Vertex Pharmaceuticals Lifts Annual Guidance, Positive Growth For Its Cystic Fibrosis Franchise And Pain Management Pipeline
Portfolio Pulse from Vandana Singh
Vertex Pharmaceuticals (NASDAQ:VRTX) reported Q2 revenues of $2.65 billion, slightly below estimates, and an adjusted EPS loss of $(12.83). The company raised its 2024 product revenue guidance and highlighted strong performance in its cystic fibrosis franchise. Vertex discontinued development of two AAT correctors but sees potential in its pain management pipeline, including suzetrigine. William Blair reiterated an Outperform rating on Vertex.
August 02, 2024 | 5:48 pm
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Vertex Pharmaceuticals reported Q2 revenues of $2.65 billion, slightly below estimates, and an adjusted EPS loss of $(12.83). The company raised its 2024 product revenue guidance and highlighted strong performance in its cystic fibrosis franchise. Vertex discontinued development of two AAT correctors but sees potential in its pain management pipeline, including suzetrigine. William Blair reiterated an Outperform rating on Vertex.
Despite missing EPS estimates, Vertex raised its 2024 revenue guidance, indicating confidence in its product pipeline and market performance. The discontinuation of two AAT correctors is offset by strong growth in cystic fibrosis treatments and promising developments in pain management. Analyst support further bolsters positive sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100