Partnering with Crisper Therapeutics, Vertex Pharmaceuticals aims to achieve a biotechnology breakthrough — the market's first-ever gene-editing treatment using CRISPR technology. Already on the IBD Breakout Stocks Index, IBD 50 and IBD Big Cap 20 lists, VRTX stock is now looking to launch a new breakout on the news.
The latest developments continue to deepen the Vertex-Crisper relationship that began in 2015. That alliance focuses on the use of CRISPR/Cas9 to discover and develop new treatments targeting the underlying genetic causes of human disease.
Earlier this week, Vertex announced it will submit its biologics licensing application for exa-cel for rolling review, beginning in November 2022. Vertex expects to complete the submission by the end of Q1 2023.
See Who Joins Vertex On The IBD Breakout Stocks Index
Vertex Generates 2,018% Q2 EPS Growth
With headquarters in Boston and London, Vertex is a global biotechnology company. It has multiple approved medicines used in the treatment of cystic fibrosis (CF), a rare and life-threatening genetic disease.
Beyond CF, Vertex has a strong pipeline of investigational small molecule, cell and genetic therapies in other serious diseases. These stem from the biotech leader's deep insight into causal human biology, including sickle cell disease, beta thalassemia, Type 1 diabetes and more.
Boosted by explosive 2,018% earnings growth last quarter, Vertex sports the highest-possible 99 Composite Rating. Over the last three years, the company has posted average annual EPS growth of 36%.
Analysts expect Vertex to deliver 41% annual earnings growth for the current year.
In Stock Checkup, Vertex earns an "A" SMR Rating, which tracks sales growth, profit margins and return on equity.
VRTX stock ties Catalyst Pharma for top billing in the Medical-Biomed/Biotech industry group, which ranks No. 5 among the 197 groups IBD tracks.
VRTX Stock Eyes Breakout With Rising Relative Strength
With its relative strength line already hitting a new high, VRTX stock is closing in on a 306.05 buy point in an early stage flat base.
Vertex shares rose nearly 3% Wednesday on rising and above-average volume. The rally lifted the stock above its 50-day moving average for the first time since Sept. 16.
Market risk is high during the correct correction but VRTX stock could break out in strong trade as major benchmarks try to establish a bottom and new uptrend.
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