Vertex: Strong Sales, Stronger Pipeline
Here's our initial take on Vertex Pharmaceuticals' (NASDAQ: VRTX) fourth-quarter financial report.
Vertex reported solid fourth-quarter numbers throughout its business. While the company's earnings per share came in slightly shy of expectations, top-line revenue growth was a significant beat. In fact, Vertex's 16% year-over-year revenue growth rate was an acceleration over the 12% rate it reported for the previous quarter. As expected, the bulk of Vertex's revenue came from its flagship cystic fibrosis (CF) treatment, Trikafta/Kaftrio.
However, the "other product revenue" category could start to become more of a factor. Both the Alyftrek CF treatment and Jornavx pain relief drug recently received FDA approval, and there are several other products in late-stage development. Its Casgevy sickle-cell disease treatment continues to launch worldwide, and there are several late-stage candidates with applications in pain relief, CF, kidney disease, type 1 diabetes, and more.
Source Fool.com
Vertex Pharmaceuticals Inc. Stock
With 43 Buy predictions and not a single Sell prediction Vertex Pharmaceuticals Inc. is an absolute favorite of our community.
As a result the target price of 493 € shows a positive potential of 23.42% compared to the current price of 399.45 € for Vertex Pharmaceuticals Inc..
