3 Reasons to Buy Vertex Pharmaceuticals Stock Like There's No Tomorrow
Vertex Pharmaceuticals (NASDAQ: VRTX) is trading near a record high after climbing about 20% so far this year, and delivering a triple-digit gain over three years. So, you may be a bit hesitant about buying shares of or reinforcing your position in this high-flying biotech company. But just because a stock has climbed a lot, and trades around its highest level ever, doesn't mean it's overpriced or has reached its full potential.
This biotech company, in spite of its top performance, trades for only 28 times forward earnings estimates, a very reasonable level considering its current earnings growth as well as its long-term potential. And Vertex's latest news indicates its growth opportunities are expanding, so both earnings and the stock should head higher over time. Let's check out three specific reasons to buy Vertex stock like there's no tomorrow.
Image source: Getty Images.
Source Fool.com
Vertex Pharmaceuticals Inc. Stock
The stock is one of the favorites of our community with 54 Buy predictions and 2 Sell predictions.
On the other hand, the target price of 450 € is below the current price of 456.3 € for Vertex Pharmaceuticals Inc., so the potential is actually -1.38%.
