Sarepta Rumors Drive Shares Up

Sarepta (Nasdaq: SRPT  ) rumors are once again swirling, and shares are up 3% as a result. The company is often talked about as a possible candidate for a buyout because of its drug Eteplirsen, which has had incredible results treating Duchenne muscular dystrophy. The 3% jump today was due to a presentation by Vertex Pharmaceuticals (Nasdaq: VRTX  ) on its cystic fibrosis drug Kalydeco, which had several slides discussing Eteplirsen. Vertex has been mentioned in passing before as a possible interested party in Sarepta. Shares currently trade around $30 per share, but a recent upgrade from Piper Jaffray pegged the stock to go to anywhere between $60 and $80 in the short term, and possibly as high as $160.

While you can certainly make huge gains in biotech and pharmaceuticals, the best investing approach is to choose great companies and stick with them for the long term. In our free report "3 Stocks That Will Help You Retire Rich," we name stocks that could help you build long-term wealth and retire well, along with some winning wealth-building strategies that every investor should be aware of. Click here now to keep reading.