Vertex (VRTX $67) Contrarian Trade Working
Vertex is one of the worse performing large cap biotechs over 6 mos. is getting boosted on a $152M royalty deal.
“Risk-On “Mode in Biotech Stocks
Biotech stocks continue to find buyers with the IBB ($211.70) approaching its 52 week all-time high of $213.
Today we recommend taking profits in our best pick Regeneron (REGN $279) and buying some Vertex (VRTX $62.84), a large cap laggard. This balances out our Portfolio in a year with huge gains.
It is very difficult to find new picks better than our current portfolio or ETFs or FBIOX unless you want to speculate in small caps.
We still recommend avoiding mid-cap high fliers with low P/S or no Sales.