3 Reasons Vertex Is Still a Buy After Its Recent Pipeline Setback
Vertex Pharmaceuticals (NASDAQ: VRTX) reported its third-quarter results after the market closed on Thursday. Based on the stock's subsequent movement, you'd probably think the company announced a mix of good and bad news. That wasn't the case at all. Vertex actually hit a home run with its Q3 results, delivering sizzling revenue and earnings growth and easily beating Wall Street estimates.
Why weren't investors more fired up? There's still a significant level of uncertainty about Vertex's future following the recent discontinuation of a phase 2 study evaluating VX-814 as a potential treatment for alpha-1 antitrypsin deficiency (AATD).
I think that the reaction to Vertex's pipeline setback has been way overdone. Here are three really good reasons to still buy the biotech stock.
Source Fool.com
