Guru, I don't know how much CF Foundation wants to take from drug's success, but their share cannot be much higher than royalty rates.
Guru, I have a cynical view of analysts' calls. They would never bite the feeding hands (of hedge fund bosses). As you said, Oppenheimer's call did not make any sense ... sell low and buy high? That is what he was saying.
Oppenheimer downgrades Vertex Pharma (VRTX 26.73) to Perform from Outperform, as they would be holders of shares for the longer term but would wait to add to positions until the next significant set of telaprevir clinical milestones approaches.
Above is the Oppenheimer's call. The next clinical milestone is probably CF drugs. I caught some of the conf call this morning, but I was not inspired by it. TVR is on track.