Vertex Pharmaceuticals (VRTX, Financial) experienced a 0.90% stock price increase, reaching $400.22 with a trading volume of 2.1733 million shares. The company's recent financial report shows $2.775 billion in revenue, $1.045 billion in net profit, and an earnings per share of $4.05, with a gross profit of $2.382 billion.
In the biotechnology sector, where Vertex operates, the overall increase was 0.88%. Notable performers include Abpro Holdings, Psyence Biomedical, and Aptose Biosciences. Vertex, known for its cystic fibrosis treatments like Kalydeco and Trikafta, is expanding into gene editing and non-opioid pain treatments.
Oppenheimer recently downgraded Vertex's stock rating from "outperform" to "market perform" due to concerns about the robustness of suzetrigine's trial results for treating radiculopathy. Despite plans to advance to phase 3 trials, uncertainties about the treatment's benefits and commercial potential remain.
