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Biotech / Medical : Biotech & Pharma.T.A,

BIB 83.12

-2.1%

Jan 30 4:00 PM EST

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To: sjemmeri who wrote (1374)	8/19/2005 7:15:30 PM
From: Jibacoa	of 3722

As you know, VRTX had a good upmove today after the people at JP Morgan upgraded it from neutral to outperform based on the results of its PI on VX-950 for patients with HCV. According to the company, it expects to file for a NDA in 2008 and the launch "could be in 2009 or earlier".<g> They said that they think the HCV market is "heating up" and could reach more then $8 Billions by 2010 on a "conservative basis".<g> In the mean time, the stock has been performing well in spite of its loss/shr for the 1st 6 monts of $1.06 vs. $1.00 in 2004 and persistent insiders sales especially by its president,Dr.J Borger, albeit the revenues have increased 69.16% to 60.9M from 36M in 2004. The estimated loss for 2005 is around $1.76/shr vs. $1.85/shr in 2004 and for 2006 is still around $1.75/shr. VRTX has a good amount of LTD with a D/E around 2.72 It made today a 52 wks. H It may come back to close today's upgap at the 17.20 level.( It never closed its May 10 upgap which was made on a volume of 23,061,156 ) May 10 was when it announced the results of its PIb on VX-950 its oral protease inhibitor for HCV,on 34 patients which were treated for 14 days demonstrating potent antiviral activity and that it was well tolerated. On today's move there probably was some amount of short covering since the short ratio was around 5.4 <g> bigcharts.marketwatch.com But based on its current momentum it seems possible that the stock could get to test its August 2002 H of 23.96 or even the 25 level.<g> (The analyst consensus target is around 19.55) At this point it remains highly speculative.<g> bigcharts.marketwatch.com Bernard

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