We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Shares of Vertex Pharmaceuticals Incorporated (VRTX - Free Report) soared 24% in morning trading on Wednesday after the company released positive results for its cystic fibrosis treatments.
The pharmaceutical company said yesterday after hours that its cystic fibrosis treatments improved lung function by 9.6% or more in patients with the condition, which surpassed expectations.
The results came from three trials, each consisting of different triple drug combinations in order to determine the best strategy for treating cystic fibrosis. The combinations included VX-440, VX-152, and VX-659.
Because all three trials were successful, Vertex will have a bigger market opportunity. About 75,000 people in the world have the genetic disease cystic fibrosis, which causes an accumulation of mucus in the lungs and other organs. Vertex has now developed medicine that targets 30,000 of these people.
If the company’s rally holds, the price stock gain could add about $8 billion to Vertex’s market capitalization.
VRTX remains a Zacks Rank #1 (Strong Buy). Our consensus estimates show that the company will have extremely strong year-over-year earnings growth for the current year. Vertex is expected to report its next quarterly earnings on July 26 after market close.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report predicting the 7 stocks that will soar highest in the coming month.
Image: Bigstock
Here's Why Vertex Pharmaceuticals (VRTX) Soared Today
Shares of Vertex Pharmaceuticals Incorporated (VRTX - Free Report) soared 24% in morning trading on Wednesday after the company released positive results for its cystic fibrosis treatments.
The pharmaceutical company said yesterday after hours that its cystic fibrosis treatments improved lung function by 9.6% or more in patients with the condition, which surpassed expectations.
The results came from three trials, each consisting of different triple drug combinations in order to determine the best strategy for treating cystic fibrosis. The combinations included VX-440, VX-152, and VX-659.
Because all three trials were successful, Vertex will have a bigger market opportunity. About 75,000 people in the world have the genetic disease cystic fibrosis, which causes an accumulation of mucus in the lungs and other organs. Vertex has now developed medicine that targets 30,000 of these people.
If the company’s rally holds, the price stock gain could add about $8 billion to Vertex’s market capitalization.
VRTX remains a Zacks Rank #1 (Strong Buy). Our consensus estimates show that the company will have extremely strong year-over-year earnings growth for the current year. Vertex is expected to report its next quarterly earnings on July 26 after market close.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>