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Buy Vertex Pharma Below $25 – Analyst Blog
Zacks Market Commentaries (June 1st, 2009) Writes:
Vertex Pharmaceuticals, Inc. (VRTX) represents an attractive long-term opportunity based on the potential blockbuster sales of telaprevir and its newly established position as the market leader for new HCV treatment options with the closing of the ViroChem deal in March 2009. Also, VX-770 for cystic fibrosis also looks very interesting. The financial situation is also solid with an estimated $700 million in cash predicted to be on hand at the end of the year.That being said, dilution still remains a concern given the high burn rate and the likely need for cash ahead of the telaprevir launch. Also, Vertex stock seems to react very negatively every time Schering-Plough (SGP) releases data on its phase III candidate, boceprevir.As these issues ebb and flow, we think Vertex's stock can be an effective trading vehicle. We would be buyers below $25 based on the strength of ...
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