|Bid||217.50 x 900|
|Ask||217.61 x 900|
|Day's Range||216.08 - 220.54|
|52 Week Range||197.47 - 306.08|
|Beta (5Y Monthly)||0.78|
|PE Ratio (TTM)||21.35|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The stock market could hit new highs under Biden, with these companies offering especially appetizing growth prospects.
Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) shares have come under selling pressure recently, given investor concern regarding diversity in the pipeline for this cystic fibrosis-focused biopharma.The Vertex Analyst: Bernstein analyst Analyst Vincent Chen initiated coverage of Vertex with an Outperform rating and $275 price target.The Vertex Thesis: Vertex's pipeline is underappreciated and offers substantial upside optionality, Chen said in a note.The cystic fibrosis franchise could reach sales of about $10 billion by 2025, with patent exclusivity into the late 2030s and strong potential for lifecycle management. This, the analyst said, largely supports the stock's current valuation.Despite investors selling the stock after recent setbacks, the analyst is more optimistic, especially with its multiple programs in potentially high-value indications and having near term catalysts.The failure of alpha-1 antitrypsin deficiency, or AATD, drug VX-814 that was subsequently discontinued has more to do with idiosyncratic toxicity, likely specific to the molecule, Chen said, citing experts in AATD.VX-864 is a separate shot on goal, he added."We believe the odds of success are not as dismal as investors believe, we see near term catalysts that have potential to drive upside for the stock, and take a positive view on the stock," the analyst concluded.VRTX Price Action: At last check, Vertex shares were up 1% to $214.Latest Ratings for VRTX DateFirmActionFromTo Nov 2020BernsteinInitiates Coverage OnOutperform Oct 2020Credit SuisseMaintainsOutperform Oct 2020SVB LeerinkMaintainsMarket Perform View More Analyst Ratings for VRTX View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Why GSX Techedu Shares Are Sinking * Pfizer, BioNTech File First For Emergency Use Authorization Of Coronavirus Vaccine(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The Nasdaq-100 is on track to book a 40% annual return after a tumultuous first quarter, when the tech-heavy index dropped more than 30% in five weeks. Perfect timing into and out of top-tier players would have netted an 80%-plus return and a whole lot more for the red-hot momentum plays that supercharged the summer trading environment. Sadly, many index components didn't participate in the advance and are slumping near 52-week lows as we head into the last six weeks of the trading year.