Vertex Pharmaceuticals: Is The Recent Barclays Downgrade Justified? I'm Not Convinced

Klaus Vedfelt Investment Overview Vertex Pharmaceuticals (NASDAQ:VRTX), the Boston based Pharma giant with an almost monopolistic share of the Cystic Fibrosis treatment market, announced its Q2 2024 earnings at the beginning of August. Product revenues were $2.65bn - up 6% year-on-year. GAAP R&D and SG&A expenses were $1.3bn, and operating income was reported as $934.9m, resulting in an operating margin of ~35%. Thanks to Vertex' completion of its $4.4bn buyout of Alpine Immune Sciences, the kidney disease ...