Vertex Stock Loses Around $3B in 3 Months: Buy the Dip or Steer Clear?
VERXVertex(VERX) ZACKS·2024-09-12 00:45

The stock of Vertex Pharmaceuticals Incorporated (VRTX) has declined around 1.2% in the past three months, losing almost 3billionofitsmarketvalue.Akeyreasonforthestockpricedipwasthelossrecordedbythecompanyinthesecondquarterduetocostsrelatedtothe3 billion of its market value. A key reason for the stock price dip was the loss recorded by the company in the second quarter due to costs related to the 4.9 billion acquisition of Alpine Immune Sciences, which closed in May.Vertex enjoys a dominant position in the cystic franchise (“CF”) market. Vertex’s CF sales continue to grow, driven by its triple therapy, Trikafta/Kaftrio. Vertex ...