"In October 2007, we downgraded Vertex shares to 'Neutral' based on our loss of conviction that telaprevir would retain its best-in-class profile following interim data for Schering-Plough's boceprevir," she wrote in a note to clients. But McMinn now feels that new boceprevir data to be presented in April is likely to give Vertex investors more comfort in telaprevir's competitive profile.
Thats great isnt it, we were in the high 30's until that, then get hammered into the teens and now she changes her mind, but I bet we dont recover back into the 30's
I read McMinn's upgrade yesterday and did not think about it much. But as i was driving to work today I started recalling that McMinn was one of the analysts who started questioning TVR because of SGP's competition. Then I thought wait a minute, there has not been any news about either one of these compounds since these analysts lambasted TVR so why the change of opinion all of a sudden without any new data?
Well Rafta answered that question in the last post, or maybe it is because these analysts are incompetent!
If she had carefully analyzed SGP's preliminary data released last October, she could have seen a higher risk for side effects because of longer treatment SGP had to choose (24 wks against 12 wks of TVR). Who would choose a drug that gives a less chance of a cure after 6 months' PI treatment!
Welcome to the Biosphere of Biotech... they make $$$ going UP and $$$ going DOWN. This baby has been hammered and we will see a major correction on the upside and very likely due to a buyout.IMHO I haven't posted in some time and very glad I sold some LT holdings at 38 and bought some puts to hedge my other ST shares.