I listened to the analyst conference calls and posted my notes at OpenIcon for the following biotechnology companies that reported earlier this week (follow links for details):
Illumina
Biogen Idec
Vertex
Celgene
Alexion
Of these stocks, I already own Biogen Idec (BIIB) and Celgene (CELG). Illumina and Alexion are doing very well, but I am put off by their prices.
Vertex (VRTX) is not doing well at all, and is overpriced. It's Hepatitis C therapy is being wiped out of the market by newer drugs. It has a pipeline of potential candidates, but is priced as if they were guaranteed approval by the FDA. As is often the case, this is a good company, but with Wall Street firms supporting the price and pushing it to investors, it is way overpriced. I don't short stocks, but if I did Vertex would be on my short list.
Keep diversified!
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