Vertex Pharmaceuticals (VRTX)
NASDAQHealth CareBiotechnologySnapshot 2026-09-04
$546.12-2.12%
Close 2026-09-04 · 1-day change
NASDAQHealth CareBiotechnologySnapshot 2026-09-04
QuarterlyIQ Insights · VRTX
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within health care on a research-validated quality screen. As of 2026-09-04.
The screen ranks VRTX against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 3 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated strong grew net income 53% of the time over the next year (vs 41% for the rest of the cohort, n=9986).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Continue growth and global expansion of CF therapies including ALYFTREK and TRIKAFTA, targeting younger patients and new geographies.
Stated as a priority in 7 of last 7 quarters. Revenue grew from $2.96B in 2025-Q2 to $3.33B in 2026-Q2 (+12%), driven by CF therapies including ALYFTREK and TRIKAFTA. ALYFTREK reimbursement expanded to 25 countries by 2026-Q2, with ongoing regulatory submissions for younger patients. Management is delivering consistent growth and geographic expansion in CF.
“Vertex delivered excellent second quarter results, expanding our leadership in cystic fibrosis; continued growth in CF therapies including ALYFTREK and TRIKAFTA.”
“Continued progress across broad clinical-stage pipeline, including label expansion of eligible U.S. patient populations for ALYFTREK and TRIKAFTA.”
“ALYFTREK reimbursed for eligible patients in multiple countries; positive Phase 3 data in children 2 to 5 years; submissions planned in first half 2026.”
“The U.S. launch of ALYFTREK is progressing well; approvals in EU, Canada, New Zealand, Switzerland; reimbursement agreements expanding.”
“Vertex secured European Commission approval of ALYFTREK; regulatory reviews underway in Switzerland, Australia, New Zealand.”
“ALYFTREK approved in U.S. and U.K.; EMA positive opinion expected second half 2025; regulatory reviews underway in Canada, Switzerland, Australia, New Zealand.”
Commercialize and expand access to JOURNAVX, a non-opioid treatment for moderate-to-severe acute pain, with increasing prescriptions and payer coverage.
Stated as a priority in 6 of last 6 quarters. JOURNAVX revenue increased from $29M in 2026-Q1 to $50M in 2026-Q2 (+71%), with approximately 900,000 prescriptions filled in first half 2026. Coverage expanded to Medicare Part D and Medicaid, reaching about 260 million individuals. Management is delivering strong commercial growth and expanding access.
Expand patient access and reimbursement for CASGEVY, a CRISPR/Cas9 gene-edited therapy for sickle cell disease and beta thalassemia.
Stated as a priority in 7 of last 7 quarters. CASGEVY revenue increased from $30M in 2025-Q2 to $76M in 2026-Q2 (+151% YoY). FDA approved use in children 2 years and older; reimbursement secured in Germany and other countries. Patient access and treatment volumes are growing steadily, indicating delivery on commercial expansion.
Progress multiple mid- and late-stage clinical programs including povetacicept for IgA nephropathy, and other pipeline assets in nephrology, diabetes, and pain.
Stated as a priority in 7 of last 7 quarters. Povetacicept advanced with BLA submission accepted and PDUFA date set for November 30, 2026. Phase 3 trials in IgAN and pMN ongoing, with Phase 2 study in gMG progressing. Management consistently reports pipeline progress aligned with clinical milestones, indicating delivery on development goals.
“Povetacicept PDUFA date November 30, 2026; Phase 3 RAINIER trial interim analysis positive; Phase 2/3 pMN and Phase 2 gMG studies ongoing.”
Provide consistent financial guidance including revenue growth targets and controlled R&D, SG&A, and tax rate expectations.
Stated as a priority in 7 of last 7 quarters. Management raised full year 2026 revenue guidance from $12.95-$13.1B to $13.1-$13.2B, while maintaining combined GAAP R&D, AIPR&D and SG&A expenses guidance at $6.3-$6.45B and non-GAAP tax rate guidance at 19.5%-20.5%. This reflects consistent financial discipline and delivery on prior guidance.
“Vertex raised full year 2026 revenue guidance to $13.1-$13.2 billion; reiterated combined GAAP R&D, AIPR&D and SG&A expenses guidance of $6.3-$6.45 billion.”
Over the trailing year it converted 1.01x of net income into operating cash flow. Historically, Health Care names rated neutral grew net income 54% of the time over the next year (vs 43% for the rest of the cohort, n=3313).
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity (low R² over the window).
8 material management or governance events in the past 24 months, led by executive changes. Historically, Health Care names rated stable grew net income 46% of the time over the next year (vs 53% for the rest of the cohort, n=3872).
Not investment advice. As of 2026-09-04.
“Vertex increased estimates for CF patients; ALYFTREK approved in U.S.; regulatory reviews underway in U.K., EU, Canada, Switzerland, Australia, New Zealand.”
“JOURNAVX revenue of $50 million, 71% quarter-over-quarter growth; approximately 900,000 prescriptions filled in first six months of 2026.”
“Growth in prescriptions and revenue from second year of JOURNAVX launch; Medicare Part D coverage expanded.”
“More than 550,000 prescriptions for JOURNAVX filled through year-end 2025; coverage with three national PBMs and 21 state Medicaid plans.”
“More than 300,000 prescriptions filled; FDA PDUFA date January 30, 2025; Priority Review granted.”
“JOURNAVX available at pharmacies since March 2025; over 110,000 prescriptions filled by mid-July 2025; coverage expanding.”
“FDA approved JOURNAVX January 30, 2025; available at pharmacies; 20,000 prescriptions filled by April 18, 2025.”
“CASGEVY revenue of $76 million, 151% growth compared to Q2 2025; FDA approved use in children 2 years and older.”
“CASGEVY revenue of $43 million; secured pricing agreement in Germany; FDA pediatric submission accepted.”
“Fourth quarter 2025 CASGEVY revenue of $54 million; 64 patients infused in 2025; reimbursement agreements expanding.”
“147 patients had first cell collection; 39 patients infused; reimbursement agreement in Italy.”
“115 patients had first cell collection; 29 patients infused; reimbursement agreements in 10 countries.”
“More than 65 authorized treatment centers activated; approximately 90 patients had first cell collection.”
“More than 50 authorized treatment centers activated; more than 50 patients initiated cell collection.”
“Completed rolling BLA submission for povetacicept in IgAN; initiated Phase 3 portion of pMN study and Phase 2 proof-of-concept in gMG.”
“Initiated rolling BLA filing for povetacicept in IgAN; FDA granted Breakthrough Therapy Designation; Phase 2/3 pMN study initiated.”
“Completed enrollment in Phase 3 RAINIER trial interim cohort; on track to submit first BLA module by end 2025; Phase 2/3 pMN trial planned.”
“Global Phase 3 RAINIER trial enrolling; interim analysis cohort enrollment complete; Phase 2/3 pMN trial on track to start.”
“Povetacicept Phase 3 RAINIER trial interim cohort fully enrolled; pivotal study of pMN to start this year.”
“Initiated RAINIER Phase 3 trial; multiple programs advancing to Phase 3 including povetacicept in IgAN.”
“Reiterated full year 2026 financial guidance including revenue of $12.95-$13.1 billion and combined GAAP R&D, AIPR&D and SG&A expenses of $6.3-$6.45 billion.”
“Provided full year 2026 financial guidance with revenue $12.95-$13.1 billion and combined GAAP R&D, AIPR&D and SG&A expenses $6.3-$6.45 billion.”
“Refined full year 2025 revenue guidance to $11.9-$12.0 billion; combined GAAP R&D, AIPR&D and SG&A expenses guidance $5.65-$5.8 billion.”
“Reiterated full year 2025 financial guidance including revenue $11.85-$12.0 billion and combined GAAP R&D, AIPR&D and SG&A expenses $5.55-$5.7 billion.”
“Raised low end of 2025 revenue guidance to $11.85-$12.0 billion; reiterated combined GAAP R&D, AIPR&D and SG&A expenses guidance.”
“Provided full year 2025 financial guidance with revenue $11.75-$12.0 billion and combined GAAP R&D and SG&A expenses $5.55-$5.7 billion.”