Jim Lebenthal Vertex Pharmaceuticals Inc. VRTX-Q BUY May 31, 2024

Likes it for its CF franchise.

It's doing well, hitting new highs today. It's further along in its life cycle. Has a fine cystic fibrosis franchise. Shares are strong momentum, so he's staying in.

Even at this all time high don't sell. They're working on non-addictive painkillers

Negative free cash flow to enter 2024, but it's turning positive. Shares are up 21% this year.

Their anti-pain drug is not addictive and it works. He's a believer.

He likes it for developing non-addictive painkillers with potential FDA approvals ahead. They reported a great quarter a day before the election, but has since pulled back hard that baffles him. Looks like profit-taking in a stock that's jumped 113% since end-2021.

They got disappointing news on their wonder drug. Disappointing. Doesn't see upside for the company.

She trimmed it because it's up 20% this year because of the launch of their pain medicine. Tonight's earnings will be fine and their pipeline makes it a good stock long term.

A strong performer in this market, not pulling back. Everybody is excited over their pain drug, and other drugs in the pipeline as well.