The Latest Breaking News from Vertex Pharmaceuticals

The market rally had a bullish reaction to the new Target warning. China EV giant BYD will supply batteries to Tesla.

Recent IBD Stock Of The Day Vertex Pharmaceuticals briefly broke out Wednesday on promising test results in diabetes.

The Dow Jones Industrial Average sold off Tuesday, as Target dived after warning profits would drop in the current quarter.

Dow Jones futures were lower after Monday's stock market action. The 10-year Treasury yield jumped back above 3%.

Vertex Pharmaceuticals (NASDAQ:VRTX) has outperformed the market over the past 10 years by 4.83% on an annualized basis producing an average annual return of 16.83%. Currently, Vertex Pharmaceuticals has a market capitalization of $68.84 billion.

Vertex Pharmaceuticals got an upgrade Wednesday on its burgeoning non-cystic fibrosis pipeline — as VRTX stock inched higher.

Upgrades

The IBD SmartSelect Composite Rating for Vertex Pharmaceuticals increased from 94 to 96 Tuesday.

Over the past 3 months, 5 analysts have published their opinion on Vertex Pharmaceuticals (NASDAQ:VRTX) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.

Multi-decade-high inflation and aggressive Fed rate increases might push the economy into a recession. So, investors looking to mitigate a market downturn should invest in Dollar Tree (DLTR) and Vertex Pharmaceuticals (VRTX), as they could deliver stable returns because their businesses enjoy a near-inelastic demand.

Vertex will need to lean on its pipeline to prop VRTX stock, an analyst said Thursday after the company delivered a mixed report.