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Wall Street Says This Growth Stock Is a Buy, but Is It Overvalued?

Wall Street Says This Growth Stock Is a Buy, but Is It Overvalued?

A struggling economy and a bear market haven't been able to stop Vertex Pharmaceuticals (NASDAQ: VRTX). Vertex's forward multiple comes in at more than four times the upper bounds of this range. Also, the company's forward price-to earnings (P/E) multiple is higher than that of the biotech industry, which is currently about 15.