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Biotech Stock Rises After FDA Approves Non-Opioid Painkiller
VRTXVertex(VRTX) Schaeffers Investment Research·2025-01-31 16:18

Vertex Pharmaceuticals Inc (NASDAQ:VRTX) stock is up 6% at 465.02atlastglance,aftertheU.S.FoodandDrugAdministration(FDA)approvedthebiotech′snewnon−opioidpainkiller,Journavx.Inastatementtothepress,thecompanysaiditwasthe"firstnewclassofpaintreatmentapprovedinmorethan20years."Inresponse,ScotiabankraiseditspricetargetonVRTXby465.02 at last glance, after the U.S. Food and Drug Administration (FDA) approved the biotech's new non-opioid painkiller, Journavx. In a statement to the press, the company said it was the "first new class of pain treatment approved in more than 20 years." In response, Scotiabank raised its price target on VRTX by 3 to $433. Now recovered from its mid-December bear gap, VRTX is already up 15.7% since the start of 2025. Today's pop has the stock b ...