Replies to post #54219 on Biotech Values

[ghmm]

My 2 cents Jason Kolbert (Susquehanna) does a pretty good job from the Conference Calls I've heard him on and especially in the Q&A when Susquehanna had their Conference earlier this year and he hosted the HCV portion. I've seen some critics of Ding Ding (Maxim Group) but have also found many of her questions insightful (though she often goes about things in a cryptic and verbose way).

I tend to judge more the analysts then the company they are with.

[DewDiligence]

VRTX Falls Hard Again

[Are the analysts cited here “second rate” too? Perhaps VRTX’s valuation simply got ahead of itself due to a combination of the company’s incessant pumping and the enormity of the unmet medical need.]

http://biz.yahoo.com/ap/071105/apfn_vertex_pharmaceuticals_out_of_the_gate.html

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Monday November 5, 11:05 am ET

Vertex Pharma Drops As Analysts Downgrade on Competition Concerns for Hepatitis C Drug

NEW YORK (AP) -- Shares of Vertex Pharmaceuticals Inc. fell to a 52-week low Monday after analysts downgraded the stock due to competitive concerns about the company's hepatitis C drug candidate telaprevir.

The stock lost $4.42, or 15.3 percent, to $24.48 in morning trading. Earlier, the shares traded as low as $22.92, after ranging from $25.61 to $45.38 over the past year.

The stock retreated 8.7 percent Friday after Vertex reported mixed results from a mid-stage clinical trial of the drug, and competitor Roche said its drug Pegasys lowered virus levels for patients who did not respond strongly to other drugs.

Leerink Swann & Co. analyst Howard Liang downgraded Vertex to "Market Perform" from "Outperform," and lowered his price target to $30 per share from a range of $43 to $45.

"We believe the competitive news could further affect the sentiment on the stock," he said.

Liang expects positive results for a potential competing hepatitis drug candidate being developed by Johnson & Johnson and Medivir. He said there are three similar drugs in early clinical testing.

Rodman & Renshaw analysts Navdeep Jaikaria and Michael King downgraded Vertex stock to "Market Perform" from "Market Outperform."

"We do not see many near term positive drivers for Vertex while competitive risks remain," they said. "Further, we are concerned that the Food and Drug Administration may take a more stringent stand and ask Vertex to complete 48 weeks of standard of care treatment for the control arm before telaprevir new drug application filing."
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