Jim Cramer Discusses 17 Stocks And Blasts Zero Day Options

4. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Number of Hedge Fund Holders In Q3 2024: 75

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is a pharmaceutical firm that created substantial headlines in January after its gene therapy Casgevy secured FDA approval to treat Sickle Cell disease. This is the first treatment of its kind, and Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)’s approval also generated tailwinds for the broader gene editing industry. The firm also relies on cystic fibrosis to generate 92% of its revenue. Sickle Cell and cystic fibrosis play key roles in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)’s hypothesis, and the sizable contribution of the former means that the firm has to maintain focus on developing new treatments. One such drug is a non-addictive painkiller, and here’s what Cramer said about the drug’s trial:

“Okay I want to put this in the context. Many companies, many people, everyone was hoping that Vertex had the holy grail. That they had some painkiller that was not addictive. Now Vertex will argue that the trial that came out which showed no difference with the placebo did not, it was not set up right. And frankly, you shouldn’t use it. However Barclays comes out this morning, $509 down to $418, says it was the worst case scenario. I know that Vertex management is incredibly responsible, but when you see management at odds with the street, I tend to want to believe the street.

“But what’s a shame about this is if this is true David we cannot get to the root of this opiate addiction in this country.

“And this was the hope, and the hope now seems to be. . . .

“It [THE STOCK] probably could go lower. They have a great cystic fibrosis franchise. They’re a great company. And I want to go with them to some degree that maybe things are okay. But this is hardly down for the year. I think it can go still lower.”