Vertex Pharmaceuticals Stock (NASDAQ: VRTX)

Vertex Pharmaceuticals Stock (NASDAQ:VRTX), Trade Ideas

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.

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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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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

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Investors can breathe a sigh of relief on Thursday as last month’s Producer Price Index (PPI) inflation turned out slightly lower than expected, albeit with some caveats across different measures within the basket. 

Stocks Bounce Back With Tech, Gold Gaining After Modest Producer Inflation Data: What&#39;s Driving Markets Thursday?

Vertex Pharmaceuticals Incorporated - Common Stock

Vertex Pharmaceuticals Inc

<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>
Image generated using artificial intelligence via Midjourney.

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

FAST

HOOD

LOVE

Wall Street Braces For Another Red Day Ahead Of More Inflation Data While Bitcoin Holds Above $70K: Analyst Sees Any Pullback As 'Phenomenal Buying Opportunity'

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.

Vertex Subsidiary To Commence Cash Tender Offer To Purchase All Outstanding Shares Of Alpine Common Stock

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

On CNBC&rsquo;s &quot;Mad Money Lightning Round,&quot; Jim Cramer said he prefers Abbott Laboratories (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abt#NYSE">ABT</a>) <a href="https://www.benzinga.com/markets/equities/24/04/38053214/fda-approves-abbotts-heart-valve-repair-device-for-patients-at-risk-of-complicationsdeath-during">over Penumbra, Inc. (NYSE: </a><a class="ticker" href="https://www.benzinga.com/stock/pen#NYSE">PEN</a>).
&quot;I still fear it after the environmental damage. I am concerned that you can&rsquo;t really put a price on it,&quot; Cramer said when asked about Hawaiian Electric Industries, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/he#NYSE">HE</a>). &quot;I think that the fires were too great, and therefore the stock could still go lower.&quot;
Sibanye Stillwater Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sbsw#NYSE">SBSW</a>) is a &quot;strange&quot; company, Cramer said, &quot;We don&rsquo;t know, really, enough about it. We know it has a yield, we know that it&rsquo;s got good properties.&quot;
The &quot;Mad Money&quot; host said Emerson Electric Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/emr#NYSE">EMR</a>) is now working. &quot;I was upset that they did a hostile takeover,&quot; Cramer said.
Recall Emerson acquired National Instruments<a href="https://www.benzinga.com/m-a/23/04/31766967/emerson-electric-is-driving-national-instruments-stock-higher-whats-going-on"> last year for $8.2 billion</a>.
&quot;They fixed the situation, and the stock&rsquo;s been a horse,&quot; Cramer added.
&quot;I think that the notion that there should be a pause in 2028 was one of the dumber things the administration&rsquo;s done, because that canceled a lot of projects that need, take like five or six years to do. And that&rsquo;s why that stock is going so low,&quot; Cramer said when asked about Excelerate Energy, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/se#NYSE">SE</a>). &quot;I&rsquo;d be willing to bet that they have to change that 2028, and that stock&rsquo;s going to fly. &quot;
Cramer said Ford Motor Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) is doing well and the company&rsquo;s stock is starting to come back. Although it has underperformed General Motors Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>), but it is still higher by 10% for the year, and &quot;I don&rsquo;t think that&rsquo;s all that bad,&quot; he added.
Vertex Pharmaceuticals Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vrtx#NASDAQ">VRTX</a>) is &quot;terrific&quot; and &quot;very, very good,&quot; Cramer said, &quot;I love it, the CF, the CF franchise is just amazing.&quot;
<h3>Price Action:</h3>
<ul>
<li>Hawaiian Electric shares gained 1.5% to settle at $11.07 on Monday.</li>
<li>Excelerate Energy shares rose 1.5% to close at $15.60 during Monday&rsquo;s session.</li>
<li>Shares of Sibanye-Stillwater gained 6.4% to close at $5.51 on Monday.</li>
<li>Penumbra shares fell 1.7% to settle at $220.07.</li>
<li>Emerson Electric shares gained 0.1% to settle at $114.67 during Monday&rsquo;s session.</li>
<li>Ford shares gained 1% to close at $13.41.</li>
<li>Vertex Pharmaceuticals shares fell 0.6% to settle at $404.22 on Monday.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/news/24/04/38148718/top-4-tech-telecom-stocks-that-may-crash-in-q2"> Top 4 Tech &amp; Telecom Stocks That May Crash In Q2 </a>
Image: Shutterstock

Long Ideas

Media

SBSW

Jim Cramer Was Upset At This Hostile Takeover, But 'They Fixed The Situation. Stock's Been A Horse'

– 45 mg once daily oral dose selected for Phase 3 –
– Results support trial expansion to lower age group and study will now include adolescents ages 10-17 years –
– If positive, pre-planned interim analysis at Week 48 may serve as the basis for accelerated approval in the U.S. –
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.vrtx.com%2F&amp;esheet=53917617&amp;newsitemid=20240401112879&amp;lan=en-US&amp;anchor=Vertex+Pharmaceuticals+Incorporated&amp;index=1&amp;md5=09bdbeeb48ddedb7ea452844c107dfd9">Vertex Pharmaceuticals Incorporated</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) today announced that inaxaplin (VX-147) has advanced into the Phase 3 portion of the global Phase 2/3 pivotal clinical trial in APOL1-mediated kidney disease (AMKD), where a 45 mg once daily oral dose will be compared to placebo, on top of standard of care. The clinical trial is designed to assess the impact of inaxaplin on kidney function and proteinuria for people living with proteinuric kidney disease mediated by two variants in the APOL1 gene, known as AMKD. In addition, the trial has been expanded to include adolescents with AMKD ages 10 to 17 years.
Previously reported Phase 2a proof-of-concept data demonstrated that inaxaplin led to a statistically significant and clinically meaningful mean reduction in the urine protein to creatinine ratio (UPCR) of 47.6% at 13 weeks of treatment compared to baseline, providing the first clinical evidence that an oral small molecule APOL1 inhibitor can decrease proteinuria in people with AMKD.
"Inaxaplin, a first-in-class molecule that addresses the underlying cause of APOL1-mediated kidney disease, has already shown impressive results in the Phase 2a proof-of-concept study," said Carmen Bozic, M.D., Executive Vice President, Global Medicines Development and Medical Affairs, and Chief Medical Officer at Vertex. "Advancing this trial into Phase 3 and broadening the trial to include younger patients is a critical step forward in bringing this potential therapy to patients who are waiting."
"AMKD is a rapidly progressing condition and often remains silent until the disease reaches an advanced stage. We have no approved disease-specific therapies for this truly devastating condition, and inaxaplin has the potential to transform the care of AMKD and significantly improve the lives of patients," noted Glenn M. Chertow, M.D., M.P.H., Professor of Medicine, Stanford University School of Medicine, and Chair of Vertex's APOL1 Program Steering Committee. "The kidney community is strongly encouraged by inaxaplin's potential, which energizes those of us caring for patients with AMKD."
An Independent Data Monitoring Committee (IDMC) reviewed blinded and unblinded Phase 2 safety and efficacy data from the Phase 2/3 pivotal trial, which evaluated two different doses of inaxaplin compared to placebo for 12 weeks of treatment in patients ages 18 to 65 years and recommended the selection of a single inaxaplin dose of 45 mg once daily in the Phase 3 portion of the Phase 2/3 study. The IDMC also recommended enrolling adolescents with AMKD ages 10 to 17 years in the Phase 3 portion of the study.
The U.S. Food and Drug Administration (FDA) has granted inaxaplin Rare Pediatric Disease Designation (RPD) and Breakthrough Therapy Designation (BTD) for APOL1-mediated focal segmental glomerulosclerosis (FSGS). The European Medicines Agency (EMA) has also granted inaxaplin Priority Medicines (PRIME) and Orphan Drug designations for AMKD.
About the Phase 2/3 AMPLITUDE Study
Inaxaplin is a potential first-in-class, investigational small molecule inhibitor of APOL1 with the goal of targeting the underlying cause of APOL1-mediated kidney disease (AMKD).
The primary efficacy endpoint for the final analysis is estimated glomerular filtration rate (eGFR) slope in patients receiving inaxaplin compared to placebo. The secondary efficacy endpoint is time to composite clinical outcome, which will also be assessed at the final analysis and is defined as a sustained decline of ≥30% from baseline in the eGFR, the onset of end-stage kidney disease or death. The final study analysis will occur when subjects have at least two years of eGFR data and when approximately 187 composite clinical outcomes have occurred.
The study is also designed to have a pre-planned interim analysis at Week 48 evaluating eGFR slope, supported by a percent change from baseline in proteinuria in the inaxaplin arm versus placebo. If positive, the interim analysis may serve as the basis for Vertex to seek accelerated approval of inaxaplin in the U.S. for patients with AMKD.
Enrollment in the study is ongoing, with more than 200 sites open in the U.S. and internationally.
About APOL1-Mediated Kidney Disease
APOL1-mediated kidney disease (AMKD) is a form of chronic kidney disease caused by variants in the APOL1 gene. Approximately 100,000 people in the U.S. and Europe have two APOL1 genetic variants and proteinuric kidney disease. People who inherit two variants in the APOL1 gene have a course of disease that is far more aggressive than in the absence of APOL1 genetic variants. Inherited APOL1 genetic variants may lead to kidney cell injury, cell death and damage to the glomeruli (which filter blood in the kidney). This leads to protein in the urine (known as "proteinuria") and decreased ability of the kidney to function, which can lead to dialysis, transplant or death.

Reported Earlier, Vertex Advances Inaxaplin Into Phase 3 Portion Of Adaptive Phase 2/3 Clinical Trial For The Treatment Of APOL1-Mediated Kidney Disease

-Exa-cel is the first CRISPR-based gene-edited therapy to be submitted for Health Canada review-
TORONTO, April 1, 2024 /CNW/ - <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4130290-1&amp;h=3041807715&amp;u=https%3A%2F%2Fwww.vrtx.ca%2F&amp;a=Vertex+Pharmaceuticals+Incorporated">Vertex Pharmaceuticals Incorporated</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) today announced its New Drug Submission (NDS) for exagamglogene autotemcel (exa-cel) has been accepted for Priority Review by Health Canada for the treatment of patients aged 12 years and older with sickle cell disease (SCD) with recurrent vaso-occlusive crises (VOCs) and for the treatment of patients aged 12 years and older with transfusion-dependent beta thalassemia (TDT).
"We are pleased that exa-cel has been accepted for Priority Review by Health Canada and look forward to bringing this therapy to eligible patients," said Michael Siauw, General Manager at Vertex Pharmaceuticals (Canada) Incorporated.
The NDS will be part of an aligned review with Health Technology Assessment (HTA) organizations, the Canadian Agency for Drugs and Technologies in Health (CADTH) and the Institut national d'excellence en santé et en services sociaux (INESSS) in Quebec.
With Priority Review, the conventional review timeline of 300 days is reduced to 180 days.
The NDS is supported by results from the ongoing Phase 3 studies, CLIMB-111 and CLIMB-121, as well as an ongoing long-term follow-up study, CLIMB-131. Data from the Phase 3 studies were most recently presented at the&nbsp;American Society of Hematology&nbsp;(ASH) Annual Meeting and Exposition in December of 2023.

Global

Vertex Announces New Drug Submission For Exagamglogene Autotemcel Has Been Accepted For Priority Review By Health Canada For The Treatment Of Sickle Cell Disease And Transfusion-Dependent Beta Thalassemia

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AKBA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$2.00</td>
<td>$31.2K</td>
<td>6.5K</td>
<td>4.4K</td>
</tr>
<tr>
<td>BMY</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$60.00</td>
<td>$26.0K</td>
<td>6.2K</td>
<td>559</td>
</tr>
<tr>
<td>EHC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$80.00</td>
<td>$48.0K</td>
<td>1.1K</td>
<td>554</td>
</tr>
<tr>
<td>UNH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/05/24</td>
<td>$500.00</td>
<td>$142.2K</td>
<td>1.4K</td>
<td>490</td>
</tr>
<tr>
<td>NVO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$160.00</td>
<td>$31.0K</td>
<td>523</td>
<td>250</td>
</tr>
<tr>
<td>VRTX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$450.00</td>
<td>$36.5K</td>
<td>0</td>
<td>159</td>
</tr>
<tr>
<td>ABBV</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/17/24</td>
<td>$175.00</td>
<td>$52.4K</td>
<td>1.2K</td>
<td>89</td>
</tr>
<tr>
<td>AVDL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$20.00</td>
<td>$27.0K</td>
<td>185</td>
<td>82</td>
</tr>
<tr>
<td>DHR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$260.00</td>
<td>$178.5K</td>
<td>92</td>
<td>79</td>
</tr>
<tr>
<td>MRNA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$125.00</td>
<td>$35.7K</td>
<td>1.4K</td>
<td>31</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For AKBA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKBA#NASDAQ">AKBA</a>), we notice a put option sweep that happens to be bearish, expiring in 22 day(s) on April 19, 2024. This event was a transfer of 1060 contract(s) at a $2.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $31.2K, with a price of $30.0 per contract. There were 6593 open contracts at this strike prior to today, and today 4467 contract(s) were bought and sold. 
• Regarding BMY (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), we observe a call option trade with neutral sentiment. It expires in 85 day(s) on June 21, 2024. Parties traded 500 contract(s) at a $60.00 strike. The total cost received by the writing party (or parties) was $26.0K, with a price of $52.0 per contract. There were 6277 open contracts at this strike prior to today, and today 559 contract(s) were bought and sold. 
• For EHC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EHC#NYSE">EHC</a>), we notice a call option sweep that happens to be bearish, expiring in 22 day(s) on April 19, 2024. This event was a transfer of 160 contract(s) at a $80.00 strike. This particular call needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $48.0K, with a price of $300.0 per contract. There were 1185 open contracts at this strike prior to today, and today 554 contract(s) were bought and sold. 
• Regarding UNH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>), we observe a call option sweep with bearish sentiment. It expires in 8 day(s) on April 5, 2024. Parties traded 400 contract(s) at a $500.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $142.2K, with a price of $355.0 per contract. There were 1496 open contracts at this strike prior to today, and today 490 contract(s) were bought and sold. 
• For NVO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>), we notice a put option sweep that happens to be bearish, expiring in 85 day(s) on June 21, 2024. This event was a transfer of 10 contract(s) at a $160.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $31.0K, with a price of $3104.0 per contract. There were 523 open contracts at this strike prior to today, and today 250 contract(s) were bought and sold. 
• For VRTX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>), we notice a call option trade that happens to be bearish, expiring in 29 day(s) on April 26, 2024. This event was a transfer of 159 contract(s) at a $450.00 strike. The total cost received by the writing party (or parties) was $36.5K, with a price of $230.0 per contract. There were 0 open contracts at this strike prior to today, and today 159 contract(s) were bought and sold. 
• Regarding ABBV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), we observe a call option trade with neutral sentiment. It expires in 50 day(s) on May 17, 2024. Parties traded 57 contract(s) at a $175.00 strike. The total cost received by the writing party (or parties) was $52.4K, with a price of $920.0 per contract. There were 1273 open contracts at this strike prior to today, and today 89 contract(s) were bought and sold. 
• Regarding AVDL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVDL#NASDAQ">AVDL</a>), we observe a put option sweep with bearish sentiment. It expires in 295 day(s) on January 17, 2025. Parties traded 52 contract(s) at a $20.00 strike. This particular put needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $27.0K, with a price of $520.0 per contract. There were 185 open contracts at this strike prior to today, and today 82 contract(s) were bought and sold. 
• For DHR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>), we notice a put option sweep that happens to be bearish, expiring in 295 day(s) on January 17, 2025. This event was a transfer of 79 contract(s) at a $260.00 strike. This particular put needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $178.5K, with a price of $2260.0 per contract. There were 92 open contracts at this strike prior to today, and today 79 contract(s) were bought and sold. 
• For MRNA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), we notice a call option trade that happens to be bearish, expiring in 295 day(s) on January 17, 2025. This event was a transfer of 24 contract(s) at a $125.00 strike. The total cost received by the writing party (or parties) was $35.7K, with a price of $1490.0 per contract. There were 1436 open contracts at this strike prior to today, and today 31 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

ABBV

AKBA

Avadel Pharmaceuticals plc - American Depositary Shares each representing one Ordinary Share

AVDL

MRNA

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
<a href="https://investorplace.com/industries/healthcare/biotech/">Biotech stocks</a> offer the possibility of groundbreaking medical advancements alongside the potential for explosive growth. While the sector carries inherent risks, a select group of biotech companies possesses the potential to deliver substantial returns in the coming years.&nbsp;



It is no surprise that investors continue to turn to this sector as advancements in technology strengthen its growth prospects. From revolutionary gene therapies to cancer research, the possibilities are endless. Furthermore, the convergence with other fields like artificial intelligence and nanotechnology amplifies the opportunities for transformative growth. That is great news for biotech enthusiasts looking to outperform the market through 2028.&nbsp;



Now, let&rsquo;s discover the top biotech stocks poised to double in the next four years!



<h2>Novo Nordisk (NVO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/nvo-stock-300x169.jpg" alt="Novo Nordisk logo on a corporate building"><div>Source: joreks / Shutterstock.com</div></div>Novo Nordisk (NYSE:<a href="https://investorplace.com/stock-quotes/nvo-stock-quote/">NVO</a>), a titan in the diabetes treatment market, isn&rsquo;t leaving any stones unturned in 2024. The company is coming off a record year, and this year&rsquo;s growth will continue to accelerate.



Novo Nordisk commands a dominant market share with its revolutionary GLP-1 therapies like Ozempic and Rybelsus. These drugs work by stimulating insulin production and have become blockbusters in the fight against type-2 diabetes. However, the drug now has a new use case in the weight loss market, which is red hot. Apart from Ozempic, Novo Nordisk has Wegovy, which has gained notable traction in the weight loss and obesity market in the 2023 fiscal year. In <a href="https://investor.novonordisk.com/q4full-presentation2023/?page=25">FY23,</a> the company&rsquo;s revenue swelled to a record $232.26 billion, with EPS up 52% to $18.62 per share. <a href="https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=167030">Wegovy was approved in the U.S. last month,</a> which will continue to be a major catalyst for the company&rsquo;s growth in the 2024 fiscal year. That makes NVO stock one of the best biotech stocks to buy for upside in 2024 and beyond.



<h2>Vertex Pharmaceuticals (VRTX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/06/vrtx-stock-1-300x169.jpg" alt="Vertex Pharmaceuticals (VRTX) logo visible on display screen"><div>Source: Pavel Kapysh / Shutterstock.com</div></div>Vertex Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/vrtx-stock-quote/">VRTX</a>) is a force to be reckoned with in the world of cystic fibrosis (<a href="https://investorplace.com/stock-quotes/cf-stock-quote/">CF</a>). The company holds a monopoly in the treatments addressing this genetic disorder and has other novel therapies in its pipeline to drive long-term growth.



Vertex Pharmaceuticals is one of the biggest sleeper biotech stocks to buy in 2024. The company&rsquo;s drug portfolio generates billions in annual revenue and boasts a rich pipeline of potential next-generation therapies. Over the last several years, Vertex saw an acceleration in revenue growth and profitability. While Trikafta, its novel therapy for CF, has been a cornerstone for the company&rsquo;s success, it is diversifying into new disease areas. That includes VRTX&rsquo;s <a href="https://investors.vrtx.com/news-releases/news-release-details/vertex-and-crispr-therapeutics-announce-us-fda-approval">exa-cel treatment</a> for sickle cell disease, recently approved by the FDA. Additionally, its VX-548 treatment for moderate to severe acute pain is in Phase 3 and ready for FDA submission. If approved later this year, it could add billions to the company&rsquo;s top line, and further accelerate its cash flow generation.&nbsp;



<h2>Health Care Select Sector SPDR Fund (XLV)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/shutterstock_1726134715-300x169.png" alt="Biochemical/biotech research scientist team working with microscope"><div>Source: Mongkolchon Akesin / Shutterstock.com</div></div>Health Care Select Sector SPDR Fund (NYSEARCA:<a href="https://investorplace.com/stock-quotes/xlv-stock-quote/">XLV</a>), while not an actual company, can be a great pathway for investors seeking broader exposure to the biotech sector. The exchange-traded fund (ETF) tracks a broad range of <a href="https://investorplace.com/industries/healthcare/">healthcare stocks,</a> including major biotech players.



XLV offers several advantages, mainly its broad diversification across the healthcare sector. It is one of the largest biotech ETFs in the entire stock market that seeks to track the performance of the healthcare sector of the S&amp;P 500. The ETF format makes it easy for investors to gain exposure to a highly specialized sector. It&rsquo;s important to note that XLV will not necessarily double in value by 2028. However, an opportunity exists for the more conservative investors to benefit in a relatively cost-effective way to participate in the upside. Before investing in biotech stocks, it&rsquo;s important to acknowledge the risks involved and take the best route that suits your investing style and long-term goals.



On the date of publication, Terel Miles did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>
<div>Terel Miles is a contributing writer at InvestorPlace.com, with more than seven years of experience investing in the financial markets.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-biotech-stocks-set-to-double-by-2028/">3 Biotech Stocks Set to Double by 2028</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Biotech Stocks Set to Double by 2028

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ACLX

AMGN

ARCT

ARGX

AZNCF

BLUE

CAPR

CPRX

CRSP

EWTX

EXAS

GILD

GPCR

ICLR

IMVT

IRTC

ISRG

LEGN

MSCLF

NEOG

NTRA

PEPG

PTCT

RCKT

RGEN

RGNX

RHHBY

SGRY

SLDB

SRPT

SWAV

TRDA

VKTX

XENE

Press Releases

Actinium Pharmaceuticals (ATNM): A Prime Buyout Candidate Amidst a Radiopharma Acquisition Wave

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