9 Best Gene Therapy Stocks to Buy Now

3. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Number of Hedge Fund Holders: 62

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), headquartered in Boston, Massachusetts, is an American biopharmaceutical firm. The company is working on the development and distribution of a wide range of treatments for people with severe illnesses.

In Q1 2024, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) recorded $2.7 billion in revenue, marking a 13% increase compared to the previous year. The company started its revenue diversification strategy by introducing CASGEVY for sickle cell disease and beta-thalassemia across various regions. In the late-stage pipeline, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is advancing programs into Phase III and toward regulatory approval.

According to analysts providing 12-month price targets for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the past three months, the average price target stands at $458, with a high forecast of $550. The stock has a consensus rating of “Strong Buy,” based on 27 analysts’ recommendations.

Here’s what Aristotle Atlantic Partners, LLC said about Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in its Q4 2023 investor letter:

“Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) develops drugs for treating cystic fibrosis, cancer, inflammatory bowel, autoimmune disease and neurological disorders. The biotechnology company has four commercial drugs used to treat cystic fibrosis. Vertex has other drugs in development, including additional cystic fibrosis treatments and medications addressing sickle cell disease, beta thalassemia, alpha-1 antitrypsin deficiency and pain.

Vertex is the global leader in treating cystic fibrosis and has additionally built a robust pipeline in several therapeutic areas. Late-stage studies in acute and neuropathic pain are expected to be another catalyst for the company. We believe Vertex’s valuation is attractive and at a discount relative to their 5-year historical average. Additionally, the company is well capitalized, with roughly $12.5 billion in net cash on its balance sheet.”