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.

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Source Fool.com