While some stocks have responded to the 2024 bull market better than others, an abundance of stocks have followed this rising tide. There's no predicting how long this next bull market will last, although historically speaking, these periods tend to significantly outlast bear markets in average duration.

If you're investing in top stocks for the long haul, what the market does in a few weeks, months, or even years won't deter you from building your portfolio in all market conditions. On that note, here are two fantastic growth stocks to consider putting cash into the next time you go shopping for businesses to add to your basket of investments.

1. Vertex Pharmaceuticals

Vertex Pharmaceuticals (VRTX 0.23%) has made a habit of developing successful products that address significant patient populations with needs that have historically been unmet by existing medications or treatments. Its cystic fibrosis drug franchise has remained a leader in this multi-billion-dollar segment of the rare disease drug market for years, because Vertex's products are the only ones that treat the root cause of this genetic illness.

The company is in the early days of launching Casgevy, the gene-editing therapy it developed with CRISPR Therapeutics. As a one-time potential functional cure for not one but two rare blood disorders, this therapy has significant blockbuster potential over the next several years.

Vertex is also working on stem-cell-based therapies for Type 1 diabetes, as well as treatments for rare genetic illnesses like Duchenne muscular dystrophy, alpha-1 antitrypsin deficiency, and APOL1-mediated kidney disease. The company's candidate for APOL1-mediated kidney disease, inaxaplin, just advanced to the phase 3 clinical trial stage.

While the launch of Casgevy will take time to manifest in terms of the effect on Vertex's balance sheet, the company is already coming from a position of strength with its existing portfolio. The two most likely next launches will be another cystic fibrosis therapy and a non-opioid drug candidate for acute pain.

The cystic fibrosis therapy is a new triple-combination treatment that will widen its market share in this space while catering to new cohorts of patients, as well as those who have stopped taking its medicines previously. That non-opioid drug, suzetrigine, also has serious blockbuster potential for the business. It's being studied to treat various pain ailments, including neuropathic pain.

The U.S. Food and Drug Administration (FDA) just granted Vertex's rolling submission for suzetrigine's moderate-to-severe acute pain new drug application, the first in multiple crucial stages toward getting the drug commercialized. A new drug application is used to obtain a license from the FDA to market a particular product for one or more indications.

Considering that suzetrigine could pose relief options that current pain management drugs do, but without many of the common side effects or addictive qualities associated with pain drugs, this is one significant part of Vertex's burgeoning pipeline that new and existing investors should watch closely. If approved, suzetrigine also faces a significant addressable market opportunity that includes about 80 million patients worldwide.

Vertex brought in profits of $3.6 billion on revenue of $9.9 billion in 2023. The company also closed out the year with cash and investments in the amount of about $14 billion on its balance sheet. This is a fantastic business that looks to have a long runway of growth ahead, and investors may want to take note sooner rather than later.

2. Pinterest

Pinterest (PINS -0.22%) has had a bumpy few years following its pandemic highs, but things seem to be getting back on track for the business after this period of volatility. The image-search-and-share platform has become a popular source of inspiration for users around the world.

As of the end of 2023, Pinterest had hit an all-time high for its monthly active user base of 498 million individuals globally. That figure was up 11% compared to the end of the prior year.

While Pinterest's website and app are free for users, these platforms are actually prime advertising space for brands across a wide range of sectors. The company makes money from running paid ads for businesses ranging from small merchants to large, multinational companies.

The videos and images on Pinterest's platform, known as "pins," are often actually ads that direct a user to a product or service that aligns with the theme they were searching for. Not all "pins" are shoppable at the moment, but management has made it clear they want this to be the case in the future.

Digital ad spending has been in flux in the last few years, particularly as concerns about the global economy have persisted. That trend has affected any company with exposure to ad spend, including Pinterest. Broadly speaking, when you're looking at an investment horizon of five years or more, this shouldn't be too concerning. Pinterest is not only witnessing steady user growth again, but revenue is rising and profitability is improving.

The company brought in about $3 billion in revenue in 2023, up 9% from 2022, and adjusted net income of $759 million, a 78% improvement from the year before.

While Pinterest wasn't profitable under generally accepted accounting principles (GAAP) in the full year, it did turn a GAAP profit of $201 million in the final three months of 2023. Revenue growth was back to double digits in the final quarter as well, up 12% compared to the prior-year period.

Pinterest has a lot of room to run as it caters to advertisers across industries, while it already has a loyal, expanding base of users ready to be converted from leads to customers for those advertisers. That's a compelling buying proposition for this business looking forward, and for investors too.