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 $3 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. Verte ...