Vertex Pharmaceuticals Just Hit an All-Time High. Here's Why the Biotech Stock Could Soar Even More
The drugmaker should significantly mitigate its most important risk as it develops new products.
Overview
The past couple of years have been volatile for Vertex Pharmaceuticals (NASDAQ: VRTX). Between clinical setbacks and worse-than-expected financial results, the company has sometimes disappointed investors. However, Vertex has always bounced back, and it recently hit a new all-time high, though it has since receded from that. Even so, the future is bright for the drugmaker. Here is why there is plenty more upside ahead.
Image source: The Motley Fool.
Vertex Pharmaceuticals is best known for developing medicines that treat cystic fibrosis (CF), an area where it has no meaningful competition. Some investors worry that this might change soon, as several drugmakers are looking to launch competing CF medicines. Sionna Therapeutics, a much smaller biotech company, has an entire pipeline dedicated to that. Other companies are also on this trail, including Krystal Biotech.
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Source
Originally published at www.fool.com.