5 Best Pharma Stocks To Buy Now

3. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Number of Hedge Fund Holders: 45

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is a Boston, Massachusetts-based biotech company that has paved the way for developing and commercializing treatment for cystic fibrosis (CF). Furthermore, the company is working on advanced gene therapies as well.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is working on developing non-opioid analgesics to treat chronic neuropathic pain. The market for pain medication is a significant one, but developing an effective non-opioid analgesic has been challenging for many pharmaceutical companies. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has also announced that it will file the Biologics License Application (BLA) for exagamglogene autotemcel (exa-cel) by the start of November and anticipates completing the submission by Q1 2023. This was a positive development as investors did not expect the filing to be done by Q4 2023. Exa-cel is aimed towards treating sickle cell disease. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has also been given the go-ahead from the FDA to initiate the first-in-human trial for VX-634, which is a small molecule AAT corrector.

For FY22, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has forecasted sales from CF treatments to be around $8.6 billion to $8.8 billion. Analysts expect Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to continue growing its therapy pipeline. The company has strong growth potential over the next 5-10 years, making it one of the best pharmaceutical stocks to hold in the long run.