2024-07-09 12:31:46 ET
Summary
- Vertex's stock has risen 18% since last December, matching the SPY index, bolstered by promising Phase 2 data for VX-548 in diabetic peripheral neuropathy.
- Vertex is expanding into gene therapies and other rare disease treatments, recently acquiring Alpine Immune Sciences for $4.9 billion to enhance its rare disease pipeline.
- Q1 2024 earnings exceeded expectations with a 13% revenue increase, primarily from their cystic fibrosis drug, Trikafta/Kaftrio.
- The investment recommendation supports buying Vertex stock, citing its strong position in cystic fibrosis and potential growth in other therapeutic areas.
Vertex's Investment in Innovation and Rare Disease Leadership
Since my last look in December, Vertex's ( VRTX ) stock performance has mirrored SPY , up 18%. My focus back then followed Vertex's VX-548 Phase 2 data in diabetic peripheral neuropathy (DPN), in which the oral selective inhibitor of the NaV1.8 sodium channel was on par with the popular and blockbuster neuropathy drug, Lyrica. The company's potential in DPN, among other prospects, including their existing fortress within the cystic fibrosis market, prompted a " buy " rating....
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Vertex: Strategic Diversification From Gene Therapy To Acute Pain Management