Top Stock to Buy #6 – Vertex Pharmaceuticals (VRTX)
Vertex Pharmaceuticals (NASDAQ:VRTX) is a biopharmaceutical company that concentrates on the development of drugs designed for the treatment of a wide range of diseases, led by hepatitis C and cystic fibrosis. The company is expected to earn $2.55 in 2012, up from 14 cents in 2011, and analysts estimate $2.62 in 2013. Analysts recently increased their consensus target price to $70 from $64.
This is a very volatile stock, and it declined recently when a June 28 report indicated that one of its key cystic fibrosis drugs did not live up to expectations. However, the company has been the subject of takeover discussions, and the drug in question is about to undergo Phase III trials after a revised opinion.
The Street reiterated its buy recommendation on July 2. Targets range from $67 to $100. But be careful to only buy this volatile stock at a limit price. Technically the target for VRTX is $75.