Short interest for Vertex Pharmaceuticals gives investors a sense of the degree to which investors are betting on the decline of Vertex Pharmaceuticals's stock. Short interest data is updated every two weeks.

Vertex Pharmaceuticals Stock (NASDAQ:VRTX), Short Interest Report

Vertex Pharmaceuticals

Vertex Pharmaceuticals is a global biotechnology company that discovers and develops small-molecule drugs for the treatment of serious diseases. Its key drugs are Kalydeco, Orkambi, Symdeko, and Trikafta/Kaftrio for cystic fibrosis, where Vertex therapies remain the standard of care globally. Vertex has diversified its portfolio through Casgevy, a gene-editing therapy for beta thalassemia and sickle-cell disease. Additionally, Vertex is evaluating small-molecule inhibitors targeting acute and chronic pain using nonopioid treatments, and small-molecule inhibitors of APOL1-mediated kidney diseases. Vertex is also investigating cell therapies to deliver a potential functional cure for type 1 diabetes.

VRTX

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Unlock Vertex Pharmaceuticals&#39; pioneering treatments, from the groundbreaking Trikafta for cystic fibrosis to the promising non-opioid painkillers.

$100B Vertex Pharma Working To Recreate $10B Cystic Fibrosis Success - This Time Focused On Pain Management Drugs

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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.

Tesla To $123? Here Are 10 Top Analyst Forecasts For Thursday

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VERA

Vertex Pharmaceuticals to acquire Alpine Immune Sciences for $4.9 billion, expanding into nephrology with promising APOL1-mediated kidney disease treatments. Analysts foresee significant revenue growth potential, with Alpine&#39;s lead molecule poised to add over $5 billion in sales.

Vertex&#39;s Alpine Acquisition: Unpacking Analyst Predictions on Povetacicept&#39;s Potential Impact

Vertex Pharmaceuticals Incorporated - Common Stock

Vertex Pharmaceuticals Inc

Vertex Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) has outperformed the market over the past 10 years by 9.66% on an annualized basis producing an average annual return of 19.99%. Currently, Vertex Pharmaceuticals has a market capitalization of $105.03 billion. 
Buying $100 In VRTX: If an investor had bought $100 of VRTX stock 10 years ago, it would be worth $605.57 today based on a price of $406.38 for VRTX at the time of writing.
<h3>Vertex Pharmaceuticals's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714665618_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Vertex Pharmaceuticals Stock In The Last 10 Years

Vertex Pharmaceuticals Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) blockbuster drug Trikafta for cystic fibrosis (CF) has shown remarkable efficacy, potentially extending the lives of some patients by up to 45 years.&nbsp;
Despite its high cost of&nbsp;$300,000 per patient&nbsp;annually in the U.S., sales remain robust.
Since its launch in 2019, Trikafta has amassed $26 billion in revenues and&nbsp;is expected&nbsp;to reach $10 billion in annual sales next year.&nbsp;
Additionally, Vertex anticipates regulatory approval for its fifth CF treatment, the&nbsp;vanza&nbsp;triple, this year, with projected annual sales&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/02/36957190/vertex-pharmaceuticals-triple-combo-treatment-for-lung-disorder-meets-primary-goal-in-adult-and-p" rel="noreferrer noopener">matching Trikafta&#8217;s success</a>.
The Financial Times cites a Guggenheim Securities analyst and&nbsp;<a target="_blank" href="https://www.ft.com/content/39ed9ca1-e49b-48cd-ac6d-acb4b9744432" rel="noreferrer noopener">writes</a>&nbsp;that Vertex is poised for substantial growth and will emerge as a top contender among pharmaceutical companies.
Daniel Lyons, a portfolio manager at Janus Henderson, highlights Vertex&#8217;s dominant position in CF treatment. Patent protection extends until at least 2039, providing a solid foundation for sustained profitability and continued research investments.
Now, the same research team at Vertex&#8217;s San Diego lab is nearing the culmination of another extensive project: developing non-opioid painkillers, presenting a new avenue for substantial market expansion.
Vertex&#8217;s challenge lies in replicating its success in cystic fibrosis (CF) treatment across other diseases.&nbsp;
Recently, it gained regulatory approval for a groundbreaking CRISPR gene editing-based therapy for sickle cell disease and beta-thalassemia.&nbsp;
Moreover, Vertex acquired&nbsp;Alpine Immune Sciences Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALPN#NASDAQ">ALPN</a>) for $4.9 billion, a move aimed at developing a treatment for&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38201798/vertex-pharmaceuticals-move-beyond-its-10b-cystic-fibrosis-franchise-pays-around-5b-for-kidney-di" rel="noreferrer noopener">autoimmune kidney disease</a>.&nbsp;
However, analysts highlight a new generation of non-addictive painkillers as the most promising in Vertex&#8217;s pipeline.&nbsp;
VX-548, a non-opioid painkiller, is undergoing late-stage clinical trials and shows potential for&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/01/36846814/why-is-vertex-pharmaceuticals-stock-sliding-today" rel="noreferrer noopener">FDA approval this year</a>.&nbsp;
It promises reduced pain with fewer side effects and no risk of addiction compared to traditional opioids.
The Financial Times highlights that analysts predict that Vertex&#8217;s new acute pain medication will bring in $2.3 billion&nbsp;in&nbsp;yearly sales by 2030. However, the real potential lies in their approved non-opioid painkiller, offering an alternative&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/12/36216498/vertexs-non-opioid-diabetes-associated-nerve-pain-treatment-candidate-aces-mid-stage-trial" rel="noreferrer noopener">to prescription opioids</a>.
Price Action:&nbsp;VRTX shares are up 0.08% at $398.02&nbsp;at the last check Friday.

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Vertex Announces European Commission Approval For Kalydeco To Treat Infants With Cystic Fibrosis Ages 1 Month And Older

Vertex Pharmaceuticals's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NYSE">VRTX</a>) short percent of float has fallen 3.75% since its last report. The company recently reported that it has 3.98 million shares sold short, which is 1.54% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.54 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Vertex Pharmaceuticals Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714069814_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Vertex Pharmaceuticals has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Vertex Pharmaceuticals's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Vertex Pharmaceuticals's peer group average for short interest as a percentage of float is 5.29%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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(VRTX) - Analyzing Vertex Pharmaceuticals's Short Interest

<ul>
<li>Vertex obtains an exclusive license to&nbsp;TreeFrog&#39;s C-StemTM &nbsp;manufacturing technology in type 1 diabetes&nbsp;</li>
<li>TreeFrog and Vertex to collaborate on scale-up of fully differentiated, insulin-producing pancreatic islet cells&nbsp;</li>
</ul>

Vertex Announce Licensing Agreement And Collaboration With Treefrog Therapeutics To Optimize Production Of Vertex's Cell Therapies For Type 1 Diabetes

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Morgan Stanley raised the price target for United Airlines Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ual#NASDAQ">UAL</a>) from $75 to $80. Morgan Stanley analyst Ravi Shanker maintained an Overweight rating. United Airlines shares gained 17.5% to close at $48.74 on Wednesday. <a href="https://www.benzinga.com/quote/UAL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Loop Capital slashed the price target for BJ&#39;s Wholesale Club Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bj#NYSE">BJ</a>) from $85 to $80. Loop Capital analyst Laura Champine downgraded the stock from Buy to Hold. BJ&#39;s Wholesale Club shares fell 1.3% to close at $75.28 on Wednesday. <a href="https://www.benzinga.com/quote/BJ/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wedbush increased Cinemark Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cnk#NYSE">CNK</a>) price target from $20 to $23. Wedbush analyst Michael Pachter maintained an Outperform rating. Cinemark shares closed at $18.13 on Wednesday. <a href="https://www.benzinga.com/quote/CNK/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keefe, Bruyette &amp; Woods cut the price target for U.S. Bancorp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usb#NYSE">USB</a>) from $52 to $45. Keefe, Bruyette &amp; Woods analyst David Konrad downgraded the stock from Outperform to Market Perform. U.S. Bancorp shares fell 3.6% to close at $39.52 on Wednesday. <a href="https://www.benzinga.com/quote/USB/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank slashed Tesla, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) price target from $189 to $123. Deutsche Bank analyst Emmanuel Rosner downgraded the stock from Buy to Hold. Tesla shares fell 1.1% to close at $155.45 on Wednesday. <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities cut Knight-Swift Transportation Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/knx#NYSE">KNX</a>) price target from $58 to $54. B of A Securities analyst Ken Hoexter maintained a Buy rating. Knight-Swift Transportation shares fell 4.4% to close at $48.53 on Wednesday. <a href="https://www.benzinga.com/quote/KNX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>BMO Capital lowered the price target for Crown Castle Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cci#NYSE">CCI</a>) from $110 to $105. BMO Capital analyst Ari Klein maintained a Market Perform rating. Crown Castle shares fell 1% to close at $93.05 on Wednesday. <a href="https://www.benzinga.com/quote/CCI/analyst-ratings">See how other analysts view this stock.</a></li>
<li>DA Davidson raised Barnes Group Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/b#NYSE">B</a>) price target from $35 to $45. DA Davidson analyst Matt Summerville upgraded the stock from Neutral to Buy. Barnes shares fell 1.6% to close at $33.39 on Wednesday. <a href="https://www.benzinga.com/quote/B/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird boosted Cadence Design Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdns#NASDAQ">CDNS</a>) price target from $302 to $322. Baird analyst Joe Vruwink maintained an Outperform rating. Cadence Design shares fell 2.4% to close at $293.71 on Wednesday. <a href="https://www.benzinga.com/quote/CDNS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Guggenheim raised Vertex Pharmaceuticals Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vrtx#NASDAQ">VRTX</a>) price target from $445 to $450. Guggenheim analyst Debjit Chattopadhyay maintained a Buy rating. Vertex Pharmaceuticals shares fell 0.3% to close at $393.10 on Wednesday. <a href="https://www.benzinga.com/quote/VRTX/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38307310/d-r-horton-netflix-and-3-stocks-to-watch-heading-into-thursday"> D.R. Horton, Netflix And 3 Stocks To Watch Heading Into Thursday </a>

<ul>
<li>Rolling submission for suzetrigine moderate-to-severe acute pain NDA granted by FDA; first module submitted and on track to complete filing this quarter.</li>
<li>Successful completion of end-of-phase 2 FDA meeting for pain associated with diabetic peripheral neuropathy (DPN); Phase 3 program to initiate in 2H 2024.</li>
<li>Breakthrough Therapy designation for pain associated with DPN granted by FDA.</li>
<li>Enrollment of Phase 2 study in patients with painful lumbosacral radiculopathy on track to complete by end of year.</li>
</ul>

Vertex Pharmaceuticals Announced Advancements Across Its Suzetrigine Pain Program For Acute And Neuropathic Pain

Guggenheim analyst Debjit Chattopadhyay maintains Vertex Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) with a Buy and raises the price target from $445 to $450.

Guggenheim Maintains Buy on Vertex Pharmaceuticals, Raises Price Target to $450

Vertex Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) has outperformed the market over the past 10 years by 8.81% on an annualized basis producing an average annual return of 19.19%. Currently, Vertex Pharmaceuticals has a market capitalization of $102.14 billion. 
Buying $1000 In VRTX: If an investor had bought $1000 of VRTX stock 10 years ago, it would be worth $6,036.05 today based on a price of $395.18 for VRTX at the time of writing.
<h3>Vertex Pharmaceuticals's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713283232_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 10 Years Ago, You Would Have $6,000 Today

Oppenheimer analyst Hartaj Singh maintains Vertex Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) with a Outperform and maintains $500 price target.

Oppenheimer Maintains Outperform on Vertex Pharmaceuticals, Maintains $500 Price Target

Vertex Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) underwent analysis by 16 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Vertex Pharmaceuticals, revealing an average target of $453.25, a high estimate of $559.00, and a low estimate of $371.00. This current average has increased by 7.58% from the previous average price target of $421.31. 
<img src="https://www.benzinga.com/files/images/story/2024/1712941266_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The analysis of recent analyst actions sheds light on the perception of Vertex Pharmaceuticals by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Whitney Ijem</td>
<td>Canaccord Genuity</td>
<td>Maintains</td>
<td>Sell</td>
<td>$371.00</td>
<td>$371.00</td>
</tr>
<tr>
<td>Andrew Fein</td>
<td>HC Wainwright &amp; Co.</td>
<td>Raises</td>
<td>Buy</td>
<td>$462.00</td>
<td>$457.00</td>
</tr>
<tr>
<td>Liisa Bayko</td>
<td>Evercore ISI Group</td>
<td>Announces</td>
<td>Outperform</td>
<td>$438.00</td>
<td>-</td>
</tr>
<tr>
<td>Olivia Brayer</td>
<td>Cantor Fitzgerald</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$440.00</td>
<td>-</td>
</tr>
<tr>
<td>Olivia Brayer</td>
<td>Cantor Fitzgerald</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$440.00</td>
<td>-</td>
</tr>
<tr>
<td>Jessica Fye</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$450.00</td>
<td>$438.00</td>
</tr>
<tr>
<td>Mohit Bansal</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$540.00</td>
<td>$500.00</td>
</tr>
<tr>
<td>Brian Abrahams</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$420.00</td>
<td>$397.00</td>
</tr>
<tr>
<td>Gena Wang</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$472.00</td>
<td>$446.00</td>
</tr>
<tr>
<td>Liisa Bayko</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$438.00</td>
<td>$436.00</td>
</tr>
<tr>
<td>Andrew Fein</td>
<td>HC Wainwright &amp; Co.</td>
<td>Raises</td>
<td>Buy</td>
<td>$457.00</td>
<td>$397.00</td>
</tr>
<tr>
<td>Jessica Fye</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$438.00</td>
<td>$390.00</td>
</tr>
<tr>
<td>Robyn Karnauskas</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$508.00</td>
<td>$456.00</td>
</tr>
<tr>
<td>Salveen Richter</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$559.00</td>
<td>$442.00</td>
</tr>
<tr>
<td>Olivia Brayer</td>
<td>Cantor Fitzgerald</td>
<td>Raises</td>
<td>Overweight</td>
<td>$440.00</td>
<td>$415.00</td>
</tr>
<tr>
<td>Whitney Ijem</td>
<td>Canaccord Genuity</td>
<td>Raises</td>
<td>Sell</td>
<td>$379.00</td>
<td>$332.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Vertex Pharmaceuticals. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Vertex Pharmaceuticals compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Vertex Pharmaceuticals's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Vertex Pharmaceuticals's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/VRTX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Vertex Pharmaceuticals analyst ratings.</a>
<h2>Delving into Vertex Pharmaceuticals's Background</h2>
Vertex Pharmaceuticals is a global biotechnology company that discovers and develops small-molecule drugs for the treatment of serious diseases. Its key drugs are Kalydeco, Orkambi, Symdeko, and Trikafta/Kaftrio for cystic fibrosis, where Vertex therapies remain the standard of care globally. Vertex has diversified its portfolio through Casgevy, a gene-editing therapy for beta thalassemia and sickle-cell disease. Additionally, Vertex is evaluating small-molecule inhibitors targeting acute and chronic pain using nonopioid treatments, and small-molecule inhibitors of APOL1-mediated kidney diseases. Vertex is also investigating cell therapies to deliver a potential functional cure for type 1 diabetes.
<h3>Financial Milestones: Vertex Pharmaceuticals's Journey</h3>
Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.
Revenue Growth: Vertex Pharmaceuticals's revenue growth over a period of 3 months has been noteworthy. As of 31 December, 2023, the company achieved a revenue growth rate of approximately 9.34%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Health Care sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Vertex Pharmaceuticals's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 38.48%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Vertex Pharmaceuticals's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 5.68%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Vertex Pharmaceuticals's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 4.36%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Vertex Pharmaceuticals's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.05.
<h2>Analyst Ratings: What Are They?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 16 Takes On Vertex Pharmaceuticals

Canaccord Genuity analyst Whitney Ijem maintains Vertex Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) with a Sell and maintains $371 price target.

Canaccord Genuity Maintains Sell on Vertex Pharmaceuticals, Maintains $371 Price Target

On Wednesday,&nbsp;Vertex Pharmaceuticals Incorporated&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) agreed to acquire&nbsp;Alpine Immune Sciences Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALPN#NASDAQ">ALPN</a>) for $65 per share or&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38201798/vertex-pharmaceuticals-move-beyond-its-10b-cystic-fibrosis-franchise-pays-around-5b-for-kidney-di" rel="noreferrer noopener">approximately $4.9 billion in cash</a>.&nbsp;
Evercore notes the deal as a surprise move as it is unusual for Vertex, which has often been critiqued for capital allocation, building up piles of cash amounting to $13.7 billion before the acquisition.&nbsp;
The analyst notes it as a solid acquisition and aligned with Vertex&#8217;s emerging footprint in nephrology following the advancement of inaxaplin in APOL1-mediated kidney disease and early-stage candidate VX-407 for autosomal dominant polycystic kidney disease.&nbsp;
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36964644/vertexs-next-generation-cystic-fibrosis-program-shows-efficacy-with-reduced-burden-" rel="noreferrer noopener">Vertex&#8217;s Next-Generation Cystic Fibrosis Program Shows Efficacy With Reduced Burden, Provides Growth Opportunity: Goldman Sachs</a>.
Evercore analyst sees Alpine&#8217;s lead molecule, povetacicept (ALPN-303), to be fourth to market in this class behind Otsuka&#8217;s sibeprenlimab,&nbsp;Vera Therapeutics Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERA#NASDAQ">VERA</a>) atacicept, and&nbsp;Novartis AG&#8217;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) zigakibar.
Evercore analyst writes that Povetacicept alone can add over $5 billion to the top line, and it models conservatively for indications beyond IgAN.&nbsp;
The analyst upgraded the stock from In-line to Outperform,&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/VRTX/analyst-ratings" rel="noreferrer noopener">with a price target of $438</a>.
BofA writes, &#8220;We think Vertex is putting its money to good work, particularly given its strong balance sheet where investors have been waiting for BD to create additional &#8220;encores&#8221; to its Cystic fibrosis (CF) pipeline. And while this is the first acquisition for Vertex of this size in quite some time, management stressed this was the right deal at the right time and to not make any readthroughs for future acquisitions.&#8221;
BofA maintains the Buy rating with a price target of $550 as the Alpine acquisition further bolsters Vertex&#8217;s late- and early-stage clinical pipelines.
William Blair&nbsp;suggests that Povetacicept&#8217;s potential extends beyond IgAN, potentially leading to it becoming a multibillion-dollar product. Additionally, they anticipate Vertex engaging in business development to broaden its pipeline beyond cystic fibrosis.
Price Action: VRTX shares are up 1.29% at $402.71 on the last check Thursday.
Photo via Shutterstock

Vertex's Alpine Acquisition: Unpacking Analyst Predictions on Povetacicept's Potential Impact

Investors can breathe a sigh of relief on Thursday as last month&#8217;s Producer Price Index (PPI) inflation turned out slightly lower than expected, albeit with some caveats across different <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38206965/mild-producer-price-data-follows-consumer-price-shock-yet-economists-raise-doubts">measures within the basket. </a>
Stocks rebounded by noon trading in New York, yet the surge fell short of recovering Wednesday&#8217;s losses, indicating lingering nervousness regarding the rate-path outlook. 
Traders have significantly adjusted their expectations for the Fed&#8217;s future actions in the past 24 hours, pushing the potential first-rate cut from June to September, with less than two cuts priced in by year-end.
The tech-heavy Nasdaq 100 outperformed the broader market, up 1.2%, driven by a rally in the semiconductor industry, with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surging 3.1% following a 2% increase the previous day.
Treasury yields stayed flat in the short-end, while inching higher in the long-end of the curve, triggering further declines in long-dated Treasury bonds. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) was down 0.2%, on track to the lowest close in nearly six months. 
The U.S. dollar index (DXY) held broadly steady. In Europe, the European Central Bank (ECB) hinted at a potential interest-rate cut in June, pushing back fears of delay linked to U.S. inflation and the Fed&#8217;s actions. 
Gold, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), continued to show strong resilience, rising nearly 1% on track to a new record-high close. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) softened 0.5% to $70,200. 
<h3 class="wp-block-heading">Wednesday's Performance In US Major Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,231.11</td>
<td>1.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,044.59</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,192.43</td>
<td>0.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,482.85</td>
<td>0.0%</td>
</tr>
</tbody>
</table>
</figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.7% to $517.50, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) flat at $384.83 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 1.2% to $443.69, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 1.4%, while the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) fell the most, down by 0.4%. 
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul>
<li>Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) rose 3.8% after Bank of America upgraded the retail giant from Neutral to Buy and raised the price target from $110 to $113. </li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) rallied 6.5%, marking the strongest daily performance within the S&amp;P 500, after rumors of the company mulling the sale of VidCon. </li>
<li>Globe Life Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GL#NYSE">GL</a>) plummeted by over 35% following allegations of insurance fraud and pyramid scheme behaviors made by short-seller Fuzzy Panda.</li>
<li>CarMax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) tumbled 11% after missing earning estimates last quarter. </li>
<li>Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>) fell nearly 20% after the company&#8217;s proposal for a reverse stock split. </li>
<li>Alpine Immune Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALPN#NASDAQ">ALPN</a>) skyrocketed 37% after Vertex Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) announced a $4.9 billion deal to buy Alpine Immune Sciences for $65 per share, implying a 38% premium from Wednesday&#8217;s close. </li>
</ul>
Read now: <a href="https://www.benzinga.com/tech/24/04/38206364/andy-jassy-says-amazon-has-its-hand-in-every-layer-of-the-generative-ai-stack-this-is-going-to-trans">Andy Jassy Says Amazon Has Its Hand In Every Layer Of The Generative AI Stack: &#8216;This Is Going To Transform Virtually Every Experience&#8217;</a>
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Stocks Bounce Back With Tech, Gold Gaining After Modest Producer Inflation Data: What's Driving Markets Thursday?

On Wednesday,&nbsp;Vertex Pharmaceuticals Incorporated&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) agreed to acquire&nbsp;Alpine Immune Sciences Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALPN#NASDAQ">ALPN</a>) for $65 per share or&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38190239/why-is-kidney-disease-focused-alpine-immune-sciences-stock-trading-higher-on-wednesday" rel="noreferrer noopener">approximately $4.9 billion in cash</a>.&nbsp;
Alpine&#8217;s lead molecule, povetacicept (ALPN-303), is a highly potent and effective dual antagonist of BAFF (B cell activating factor) and APRIL (a proliferation inducing ligand).&nbsp;
Through Phase 2 development, povetacicept has shown potential best-in-class efficacy in IgA nephropathy (IgAN), a type of kidney disease.
Povetacicept is on track to enter Phase 3 clinical development in the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38190992/vertex-enters-into-agreement-to-acquire-alpine-immune-sciences" rel="noreferrer noopener">second half of 2024</a>.
Vertex has built its business on genetic medicines for cystic fibrosis, which generated almost&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/02/36957190/vertex-pharmaceuticals-triple-combo-treatment-for-lung-disorder-meets-primary-goal-in-adult-and-p" rel="noreferrer noopener">$10 billion in revenues in 2023</a>.&nbsp;
The company recently added to its portfolio therapy for blood disorders sickle cell disease and transfusion-dependent&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/01/36657324/gene-therapy-for-beta-thalassemia-crispr-therapeuticsvertexs-casgevy-secures-fda-nod-ahead-of-schedu" rel="noreferrer noopener">beta-thalassemia</a>.&nbsp;
In the kidney disease category, Vertex&#8217;s&nbsp;<a target="_blank" href="https://www.vrtx.com/our-science/pipeline/" rel="noreferrer noopener">pipeline</a>&nbsp;includes Phase 3 inaxapalin for APOL1-mediated kidney disease and early-stage candidate VX-407 for autosomal dominant polycystic kidney disease.
&#8220;Alpine is a compelling strategic fit for Vertex and furthers our ambition of using scientific innovation to create transformative medicines targeting serious diseases with high unmet need in specialty markets,&#8221; said Reshma Kewalramani, CEO and President of Vertex.
&#8220;We also look forward to fully exploring povetacicept&#8217;s potential as a &#8216;pipeline-in-a-product&#8217; and adding Alpine&#8217;s protein engineering and immunotherapy capabilities to Vertex&#8217;s toolbox.&#8221;
The transaction is expected to close in the second quarter of 2024.
The deal comes as Alpine shared updated IgAN data from an open-label&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38191435/alpine-immune-sciences-shares-updated-clinical-data-from-povetacicept-in-iga-nephropathy" rel="noreferrer noopener">Phase 1b/2a RUBY study</a>.&nbsp;
According to results, in the six patients who had reached 36 weeks of treatment with the low dose (80 mg), Alpine reported a clinically meaningful 64.1% reduction in proteinuria, the protein level in the urine associated with kidney disease.&nbsp;
This reduction was associated with stable renal function as assessed by estimated glomerular filtration rate, a measure of kidney function.&nbsp;
All four patients for whom data were available at 36 weeks showed resolution of hematuria or blood in the urine.
At the high dose (240 mg), Alpine reported proteinuria and hematuria results at weeks 12 and 24, similar to results in the low-dose group.&nbsp;
Both doses were well tolerated, and no infections were reported.&nbsp;
Price Action:&nbsp;VRTX shares are down 0.49% at $395.62, and ALPN shares are up 36.2% at $64.08 during the premarket session on the last check Thursday.

Movers

Vertex Pharmaceuticals Moves Beyond $10B Cystic Fibrosis Franchise, Pays Around $5B For Kidney Disease Player Alpine Immune

HC Wainwright &amp; Co. analyst Andrew Fein maintains Vertex Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) with a Buy and raises the price target from $457 to $462.

HC Wainwright & Co. Maintains Buy on Vertex Pharmaceuticals, Raises Price Target to $462

The negative mood on Wall Street may persist as investors await the release of another inflation report, which will have significant implications for the&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38196450/larry-summers-says-june-rate-cut-could-be-dangerous-and-egregious-error-after-hotte" rel="noreferrer noopener">near-term trend</a>&nbsp;in consumer prices. Wholesale price inflation typically flows down the supply chain and manifests as higher retail prices in the coming months.
Major U.S. index futures are pointing towards a lower opening on Thursday. Traders may also be keeping an eye on a key central bank decision from Europe, the weekly U.S. jobless claims data, and a series of Fed speeches scheduled for later today.
 Futures Performance On Thursday ( as of 6:50 a.m. EDT)
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.12%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.24%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.21%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.77%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Thursday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.19% to $513.15,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) slipped 0.13% to $437.81 according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
Soaring inflation data and the subsequent Federal Reserve meeting minutes rattled investors on Wednesday. The minutes revealed a lack of strong consensus among Fed officials regarding inflation&#8217;s trajectory, fueling concerns that it may not be on a sustained downward path. This uncertainty led to a significant decline in major indexes at the open. The markets then displayed limited movement throughout the trading day, remaining at these depressed levels. 
The Dow Jones Industrial Average closed at its lowest point in nearly two months. Sectors particularly sensitive to interest rate fluctuations, such as real estate, financials, healthcare, utilities, consumer discretionary goods, and materials, experienced heavy selling pressure.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.84%</td>
<td>16,170.36</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.95%</td>
<td>5,160.64</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-1.09%</td>
<td>38,461.51</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-2.52%</td>
<td>2,028.39</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Fund manager Louis Navellier was undeterred by Wednesday&#8217;s market slide and saw it as a &#8220;phenomenal buying opportunity.&#8221;
&#8220;I think in a couple of weeks you&#8217;ll realize today [Wednesday] was probably the best buying opportunity you&#8217;re going to have,&#8221; he said. Navellier premised his view on his expectations for a strong earnings season. 
Morgan Stanley&#8217;s Lisa Shalett, meanwhile, sounded out a note of caution about a strong economy. Hot economic growth may fuel inflationary pressure and squeeze corporate profits, she said. The analyst also sees a hotter-than-expected economy to prompt the Fed to rethink its rate-cut itinerary.
&#8220;If the central bank's rate-cutting cycle is delayed or if rates come down less than anticipated, the resulting higher-for-longer rate environment could pose risks for key sectors of the economy,&#8221; she said. &#8220;It would likely weigh on spending by middle- and lower-income consumers, for instance, and put further pressure on already-vulnerable sectors like commercial real estate and regional banks.&#8221;
Upcoming Economic Data:
The Labor Department is scheduled to release its producer price inflation report for March at 8:30 a.m. EDT. The consensus estimates for the key numbers versus the previous month&#8217;s comparisons are as follows:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Consensus (March)</td>
<td>Actual (Feb.)</td>
</tr>
<tr>
<td>Producer Prices (M-o-M Change)</td>
<td>0.3%</td>
<td>0.6%</td>
</tr>
<tr>
<td>Core Producer Prices (M-o-M Change)</td>
<td>0.2%</td>
<td>0.4%</td>
</tr>
<tr>
<td>Producer Prices (Y-o-Y Change)</td>
<td>2.2%</td>
<td>1.6%</td>
</tr>
<tr>
<td>Core Producer Prices (Y-o-Y Change)</td>
<td>2.3%</td>
<td>2.8%</td>
</tr>
</tbody>
</table>
</figure>
The Labor Department will also release its jobless claims data for the recent reporting week at 8:30 a.m. EDT. The number of individuals claiming unemployment benefits may have come in at 221,000 in the week ended April 6, down from 217,000 in the previous week.
The Treasury will auction four- and eight-week bills at 11:30 a.m. EDT and 30-year bonds at 1 p.m. EDT.
Fed officials scheduled to speak include:
<ul>
<li>Fed Governor Michelle Bowman: 8:45 a.m. EDT</li>
<li>Boston Fed President Susan Collins: noon EDT</li>
<li>Chicago Fed President Austan Goolsbee: 12:45 p.m. EDT</li>
<li>Atlanta Fed President Raphael Bostic: 1:30 p.m. EDT</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) fell over 2% <a href="https://benzinga.grsm.io/lxquj26b2sag">in premarket </a>on an analyst downgrade.</li>
<li>Alpine Immune Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALPN#NASDAQ">ALPN</a>) jumped over 36% after agreeing to be acquired by Vertex Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>).</li>
<li>CarMax, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>), Constellation Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>), Lovesac Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOVE#NASDAQ">LOVE</a>) and Fastenal Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting ahead of the market open</a></li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures fell back to under the $86-a-barrel mark, giving back some of the 1%+ gains they made on Wednesday. Gold futures traded modestly higher after pulling back in the previous session on the dollar&#8217;s strength. The yield on the benchmark 10-year Treasury held below around 4.55% levels.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was firm, as it held above the $70,000 level.
Most Asian markets slid on Thursday as they reacted to the hotter-than-expected U.S. inflation data and its implication for the Fed funds rate. The Chinese market, however, ended modestly higher as data showing weak consumer price inflation and producer price deflation in the country raised hopes of governmental support.
European stocks traded water ahead of the European Central Bank&#8217;s rate decision due at 8:15 a.m. EDT. The consensus view is that the central bank would stand pat on rates.
Read Next: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38189647/fed-minutes-reveal-growing-unease-over-inflation-path-not-merely-statistical-aber">Fed Minutes Reveal Growing Unease Over Inflation Path: Not &#8216;Merely Statistical Aberrations&#8217;</a>
Image created via photos on Shutterstock

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Evercore ISI Group analyst Liisa Bayko upgrades Vertex Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) from In-Line to Outperform and announces $438 price target.

Evercore ISI Group Upgrades Vertex Pharmaceuticals to Outperform, Announces $438 Price Target

The transaction is expected to close in the&nbsp;second quarter&nbsp;of 2024.&nbsp;Alpine&#39;s lead molecule, povetacicept (ALPN-303), is a highly potent and effective dual antagonist of BAFF (B cell activating factor) and APRIL (a proliferation inducing ligand). Through Phase 2 development, povetacicept has shown potential best-in-class efficacy in IgA nephropathy (IgAN). IgAN is a serious, progressive, autoimmune disease of the kidney that can lead to end-stage-renal disease. There are no approved therapies that target the underlying cause of IgAN.&nbsp;&nbsp;Povetacicept is on track to enter Phase 3 clinical development in the second half of 2024.

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Vertex Enters Into Agreement To Acquire Alpine Immune Sciences For $65 Per Share Or Approximately $4.9B In Cash

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Press Releases

Revolutionizing Targeted Cancer Treatment and Radiotherapy Manufacturing: Actinium Pharmaceuticals (NYSE: ATNM) Trailblazing Journey

Vertex Advances Inaxaplin (VX-147) into Phase 3 Portion of Adaptive Phase 2/3 Clinical Trial for the Treatment of APOL1-Mediated Kidney Disease

Vertex Announces New Drug Submission for Exagamglogene Autotemcel (exa-cel) Has Been Accepted for Priority Review by Health Canada for the Treatment of Sickle Cell Disease and Transfusion-Dependent Beta Thalassemia

Vertex to Announce First Quarter 2024 Financial Results on May 6

Vertex Enters Into Agreement to Acquire Alpine Immune Sciences

ALPINE IMMUNE INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Alpine Immune Sciences, Inc. - ALPN

Vertex Announces Advancements of Suzetrigine (VX-548) in Acute and Neuropathic Pain

Contracts

VERTEX AND TREEFROG THERAPEUTICS ANNOUNCE LICENSING AGREEMENT AND COLLABORATION TO OPTIMIZE PRODUCTION OF VERTEX'S CELL THERAPIES FOR TYPE 1 DIABETES

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Vertex Pharmaceuticals Stock (NASDAQ:VRTX), Short Interest Report

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