Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) rose 2.7% after comments from NY Federal Reserve President John Williams hinted at a possible interest rate cut. The probability of a rate cut in December increased to over 73%. The stock closed at $426.85, up 1.1%. Despite today’s positive movement, the company faced setbacks with the failure of its pain drug VX-993 in a mid-stage trial. The stock is up 5.3% YTD but still below its 52-week high. Investors who bought 5 years ago would see a return of almost 100%. Vertex Pharmaceuticals continues to face regulatory hurdles with its pain medicine Journavx.

Read more at Stockstory.org would be categorized as an independent media company.: Vertex Pharmaceuticals (VRTX) Stock Trades Up, Here Is Why