With two pricey cystic fibrosis drugs on the market, Vertex Pharmaceuticals fetches a pretty premium from Wall Street.
Indeed, Vertex (ticker: VRTX) is one of the most expensive drug makers in the Standard & Poor’s 500 index by practically any valuation metric. At just over $93, the shares trade at an eye-popping 30.6 times 2017 earnings estimates, which seems ridiculous for a company that has just started to turn a profit.
Even so, Vertex isn’t being given its due by Wall Street for its pipeline, which could deliver new drugs to ramp up its already robust profit growth.
