The deal values Crinetics at $85 per share in cash, representing a potential upside of about 100% from the stock’s closing price on Monday.
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The acquisition would add to Vertex’s pipeline and potentially grow its annual revenue by $5 billion with the addition of Crinetics-developed drugs Palsonify and Atumelnant, the company said.
Crinetics stock nearly doubled late Monday after Vertex Pharmaceuticals pledged $10 billion to buy the endocrinology-focused biotech company.
Investing.com -- Vertex Pharmaceuticals Incorporated announced Monday it will acquire Crinetics Pharmaceuticals, Inc. for $85.00 per share in cash, representing a total equity value of approximately $10.0 billion, or approximately $8.8 billion net of estimated cash acquired.
July 6 (Reuters) - Vertex Pharmaceuticals will buy Crinetics Pharmaceuticals for a total equity value of about $10 billion, the companies said on Monday.
The pharma stock is up around 17% this year.
One company leads in gene-editing approvals, while the other targets surging demand in metabolic treatments. Here’s how their financials and risk profiles compare.
This big biotech stock doesn't get the hype that SpaceX does. But it could be the smarter bet right now.
FDA approved expanded use of CASGEVY for children as young as two years with sickle cell disease and transfusion-dependent beta thalassemia. The approval makes CASGEVY the first gene therapy of its kind available to this pediatric group in the U.S. Vertex Pharmaceuticals estimates that roughly 5,500 additional children in the U.S. may now be eligible for this one-time genetic treatment. Vertex Pharmaceuticals, traded as NasdaqGS:VRTX, now has FDA approval to offer CASGEVY to a much younger...
According to the average brokerage recommendation (ABR), one should invest in Vertex (VRTX). It is debatable whether this highly sought-after metric is effective because Wall Street analysts' recommendations tend to be overly optimistic. Would it be worth investing in the stock?
Arcutis doubled revenue last year while Vertex delivered strong profits and cash flow. Explore how each company stacks up on growth, risk, and value.
The fresh FDA approval allows the use of the cell therapy in patients as young as two years old with sickle cell disease (SCD) who have recurrent vaso-occlusive crises or transfusion-dependent beta thalassemia (TDT).
VRTX gets FDA approval to expand Casgevy use in patients aged two and older with SCD or TDT, a first for genetic therapies in both inherited blood disorders.
Dyne pursues rare disease breakthroughs while Vertex leverages blockbuster profits for pipeline expansion, how do their risk profiles and financials compare?
Zacks.com users have recently been watching Vertex (VRTX) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Elsewhere, Otsuka’s kidney drug hit the goal of a confirmatory trial and Vertex’s CRISPR sickle cell drug secured expanded approval.
Wrapping up Q1 earnings, we look at the numbers and key takeaways for the therapeutics stocks, including Vertex Pharmaceuticals (NASDAQ:VRTX) and its peers.
From gene-editing breakthroughs to blockbuster cystic fibrosis drugs, these two industry leaders present sharply contrasting financials and risk profiles.
In the closing of the recent trading day, Vertex Pharmaceuticals (VRTX) stood at $491.34, denoting a +2.32% move from the preceding trading day.
In the most recent trading session, Vertex Pharmaceuticals (VRTX) closed at $475.12, indicating a +1.43% shift from the previous trading day.
The iShares Nasdaq Biotechnology ETF (IBB) is trading just 1.47% below its 52-week high, signaling a potential multi-year sector breakout.
If you are wondering whether Vertex Pharmaceuticals is priced fairly after its recent run, a good starting point is understanding what the current share price implies about future expectations. The stock last closed at US$466.79, with returns of 3.0% over the past week, 7.4% over the past month, 3.2% year to date, 3.7% over one year, 34.5% over three years and 137.2% over five years. This performance raises questions about how much of the story is already reflected in the price. Recent...
Vertex Pharmaceuticals recently reported Phase 3 data showing that its CRISPR-based therapy CASGEVY delivered strong clinical benefits and a consistent safety profile in children ages 5–11 with severe sickle cell disease and transfusion-dependent beta thalassemia, with all evaluable patients achieving the main trial goals. This pediatric dataset, presented at the European Hematology Association Congress and published in the New England Journal of Medicine, supports Vertex’s regulatory push...
Vertex Pharmaceuticals has been treading water for the past six months, recording a small loss of 1.6% while holding steady at $452.99. The stock also fell short of the S&P 500’s 9% gain during that period.
The stocks in this article have caught Wall Street’s attention in a big way, with price targets implying returns above 20%. But investors should take these forecasts with a grain of salt because analysts typically say nice things about companies so their firms can win business in other product lines like M&A advisory.
These companies don't typically compete directly with one another, but that might change soon.
VRTX is betting on kidney disease candidates like povetacicept and inaxaplin to drive long-term growth beyond its dominant cystic fibrosis franchise.
In the closing of the recent trading day, Vertex Pharmaceuticals (VRTX) stood at $451.63, denoting a -1.6% move from the preceding trading day.
Companies that consistently increase their sales, margins, or returns on capital are usually rewarded with the best returns, and those that can do all three for years on end are almost always the legendary stocks that return 100 times your money.
The opportunity is enormous, but uncertainty remains.