Vertex Pharmaceuticals has had a phenomenal run over the past decade. Its price had gone from around $40 in 2010 to almost $300 in 2020. The company is among the best biotech stocks to invest in right now and has a strong focus on research and product development. Vertex Pharmaceutical is powerful in the cystic fibrosis market with drugs like Kalydeco and Orkambi. Besides cystic fibrosis, Vertex has a strong product line in areas like inflammatory disease, autoimmune disease, and other health conditions. The pharmaceutical sector has received plenty of attention during the pandemic, and there are several good names to choose from. However, Vertex Pharmaceuticals, based on its long-term performance, might be a worthy candidate for anyone looking to buy biotech stocks.
Future Prospects of Vertex Pharmaceuticals
Vertex Pharmaceuticals is working towards expanding its cystic fibrosis business further. It is working towards getting its most recently approved drug Trikafta to be used for treating younger patients. Recently, company CEO Reshma Kewalramani said that Vertex is planning to begin Phase 3 trial of a “next-gen” cystic fibrosis drug which may end up being even more effective than the company’s present drug. The Phase 2 trial data for another medicine to treat a lung and liver disorder called AATD is also expected to come out in the second quarter of 2021. A positive result would impact the stock price almost certainly as the market opportunity for AATD is quite large. CEO Kewalramani had estimated revenues of $5.5 billion from the AATD drug by the year 2030. If you are looking for top biotech stocks to invest in, then Vertex looks like a promising candidate.
Best Biotech Stocks To Invest In Right Now
Vertex Pharmaceuticals’ stock has risen from around $90 in March 2017 to $211 in March 2021. The stock had reached a peak of $294 in July 2020 before pulling back in the last few months. The stock is in the red on a 1-year and 1-month basis, with its price closing at $211.98 on 5th March 2021.
