NEW YORK (TheStreet) -- Vertex Pharmaceuticals (VRTX) shares are up 2.11% to $126.70 in trading on Wednesday after the biopharmaceutical company announced that a Food and Drug Administration advisory panel backed its cystic fibrosis treatment Orkambi.
An official decision on whether to approve Orkambi is expected from the FDA by July 5 and the agency does not have to adhere to the panel's recommendation, but the vote of confidence has nonetheless raised the company's profile in trading today.
The advisory committee unanimously declared that Orkambi is safe with one board member saying that, "The risks are small, or modest, and are all manageable with appropriate monitoring."
TheStreet Ratings team rates VERTEX PHARMACEUTICALS INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate VERTEX PHARMACEUTICALS INC (VRTX) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: VRTX Ratings Report