Stocks ticked slightly higher as investors awaited results from the two-day Fed policy meeting, which concludes today. Markets seem to have priced in a third consecutive 75 basis point rate hike. However, uncertainty remains over the central bank’s longer-term projections.
“Our sense is that markets could be set up for a short-lived relief rally if the Fed hikes by +75bps and Powell doesn’t ratchet up his hawkish rhetoric even further,” said Wolfe Research’s Chris Senyek. “That said, we don’t anticipate having to change our intermediate-term bearish call.”
Regardless of what’s happening elsewhere in the market, biopharma is a great place to look for stocks to pack into your portfolio because there’s always an illness that can be treated more effectively in the future than it is being treated today.
Our trade alert features an established drug maker with an excellent approval history. Their treatments have been widely trusted for years, and currently, they have multiple promising projects in the pipeline.
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Vertex Pharmaceuticals (VRTX) is the undisputed leader in cystic fibrosis therapies. The company’s portfolio of approved CF drugs will deliver at least an estimated $8.4 billion this year, made possible by intense market penetration and decades-long devotion to research and development in the space.
So far, the company has been highly accountable, proving to regulators that its products are effective and safe for broader and more comprehensive populations of patients. It has also remained strongly profitable and continued to expand revenue within the CF market at a steady pace.
If management’s plans for expanded approvals for younger age cohorts continue to come to fruition over the next few years, Vertex will eventually be treating as many as 90% of all people with CF. That means investors can look forward to a steadily increasing flow of new revenue and expanded approvals, which should significantly support the stock’s price.
Furthermore, the company is moving its pipeline beyond CF with a handful of mid-stage clinical programs for pain relief, kidney disease, and genetic hematologic disorders like sickle cell disease. In other words, even if it eventually completely corners the entire market for CF therapies, there will still be other opportunities for growth.
Of 26 analysts offering recommendations for VRTX, 18 give the stock a Buy rating, and 9 rate it a Hold. There are no Sell ratings. It seems likely that Vertex will reward patient investors as the steadily growing biopharma company seems ripe for expansion for years to come.
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