All the recent talk and rumors about companies interested in buying Vertex indicates how highly valuable Vertex is in the eye of biotech analysts.
The price action last week suggests that the stock has been undergoing a process of being accumulated by stronger hands. We will be less likely to see fear motivated selling or much immediate term large scale profit taking. This does not mean there will be no sellers but that it will be more difficult to pry stock from investors without paying up.
Thank you thirdmeinvestor
I have been surprised many times when significant share price changing news has been released during a period when none was expected. For a long term investor, looking for short term stimuli to move the stock price is not a central investing theme. OTOH, one might also think of long term investing as buy, hold and pray!
I am expecting a muted change in price following news of Orkambi approval. I don't believe there are many speculators or investors who think the drug won't be approved. I believe the biggest fundamental factor determining the stock is the pricing issue. There lies the greatest degree of uncertainty. The price will ultimately be determined by the selling price of Orkambi. So until that is set, I don't expect any significant price change.
Increased volume and movement beyond recent trading range. The clincher: cashbar1 has probably sold his stock and given it to a major player for a song.
My opinion, probably worth what you are paying for it, is that the price of shares are going down now because there was a lot of speculation that the positive recommendation of the panel would drive the price up dramatically and a fast profit was to be had. There was much talk about a $25+ price appreciation. The failure for that to materialize resulted on a lot of new shareholders having an equity stake in a company they had no interest in really owning. They are now divesting themselves of shares. This drop in stock price actually diminishes enthusiasm for the stock over a very short-term. This accentuates the demand/supply imbalance. Once, these speculators have cleared their shares the stock will likely move up rapidly.