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Top analyst: This biotech set to rally 30%

A Kalydeco pill, which is a medication for Cystic Fibrosis is made by Vertex Pharmaceuticals.
Yoon S. Byun | The Boston Globe | Getty Images
A Kalydeco pill, which is a medication for Cystic Fibrosis is made by Vertex Pharmaceuticals.

Editor's note: TipRanks is a tech company that ranks analysts and financial bloggers based on their picks performance. The goal of this piece is to highlight an analyst that you likely have never heard of who has a great track record.

The market pullback in the biotech sector is tumultuous for investors, but it may offer a great long-term investment entry point, according to a top analyst on Wall Street.

Brian Abrahams of Jefferies upgraded Vertex Pharmaceuticals from "Hold" to "Buy." He did, however, lower his price target from $142 to $120 given the recent decline. That new target still represents a rally of about 30 percent from Friday's close.

Abrahams is a top analyst in the biotech sector. His stock picks average a 19.4 percent one-year return with a 60 percent success rate. He is ranked in the top 4 percent of all Wall Street analysts according to TipRanks.

Here is why the analyst is bullish on Vertex.

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