VRTX"A quick trade for traders based on a classic, well-known pattern: Symmetrical Triangle. Entry at $500, stop loss at $460. First target between $527.5 _ $535. Second target between $544 _ $549."
VX1 trade ideas
VRTX Vertex Pharmaceuticals Options Ahead of EarningsAnalyzing the options chain and the chart patterns of VRTX Vertex Pharmaceuticals prior to the earnings report this week,
I would consider purchasing the 472.5usd strike price Puts with
an expiration date of 2024-11-8,
for a premium of approximately $14.00.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Vertex Pharmaceuticals (VRTX) | Chart & Forecast SummaryRight Here You Can See Vertex Pharmaceuticals Incorporated (VRTX) Registered As (VRTX) On The New York Stock Exchange, Vertex Pharmaceuticals Incorporated Is An American Biopharmaceutical Company Based In Boston, Massachusetts.
The Following Chart & Forecast Summary On Vertex Pharmaceuticals Incorporated (VRTX) Has been Subject On
Key Indicators on A Trade Set Up in General Like A
1. A Push Set Up
2. A Range Set up
3. And A Break & Retest Set Up
Overall Conclusion | Like The Trade Plan Execution & Risk Management on Demand It Tells Us
"Long Bias For Now"
VRTX Bull FlagVRTX is approaching the top end of bull flag on the 4hr. A break could lead to a move back up to ATH and beyond. The flag pole on this one is pretty big so if going on that projection it could see $600 if it does get continuation above.
A bearish scenario would be a rejection here at the top end or a fakeout above that could lead to a move all the way back down to the bottom end of the flag. Looking bullish for now.
Buy Vertex PharmaceuticalsShort Term Trading Advice by Naranj Capital
Buy Vertex Pharmaceuticals
● Buy Range- 475 - 480
● Target- 500 - 505
● StopLoss- 460
● Potential Return- 5-6%
● Duration- 12-14 Trading Days
VRTX upside?Beautiful bullflag breaking on the hourly and higher time frames, Targeting previous highs
Eyes on VRTXVRTX bouncing nicely off recent lows and has broken downtrend. Final confirmation would be a daily close over 421.50. Looking to enter a starter position and will add on a retest of the daily 48.
Vertex Pharmaceuticals pioneers with non-opioid painkiller VX-54Vertex Pharmaceuticals Inc., widely recognised for its cystic fibrosis treatments, is venturing into new therapeutic areas , signalling potential growth in new markets. The company is currently advancing its development of non-opioid analgesics, specifically candidate VX-548, which has demonstrated encouraging outcomes in clinical trials. This new drug represents a significant shift in pain management, offering an alternative to opioid medications.
Vertex is preparing to seek FDA approval for VX-548 within the year. If approved, this drug could substantially impact the healthcare industry and is projected to achieve peak annual revenues of 5 billion USD – approximately half of Vertex's current annual revenue.
Exploring investment opportunities, here is a technical analysis of Vertex Pharmaceuticals Inc. (NASDAQ: VRTX):
On the Daily (D1) timeframe, the stock exhibits a 410.00 USD resistance level and support at 392.00 USD. The stock is currently trending downward. Notably, there have been three consecutive trading sessions with a gap up, suggesting that major players might be accumulating buy positions. If the downtrend persists, the next price target could be around 360.50 USD.
For traders, breaking the resistance at 410.00 USD could provide a buying opportunity, with a short-term target set at 421.00 USD. If the resistance is surpassed, holding a long position with a target of up to 436.50 USD might be considered for a medium-term strategy.
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In waiting for a retestAre you interrested in buying NASDAQ:VRTX ? I'm looking for a break confirmation of the 2-years trendline to evaluate a first entry in the 370s. Then the POC line could be a valid support to regain the trend.
VRTX Stock – the Alternative to OxyContin?In the wake of the opiod epidemic, brought on in part by the success of Oxycodone, a new exceptional drug is being developed by Vertex Pharmaceuticals (NASDAQ: VRTX). With the intention of providing relief from severe pain without the addictive properties of opioids, Vertex’s new drug could be on track to replicate the success of Oxycodone – making VRTX stock one to watch this year.
It recently aced clinical trials, and as a result, the company is setting its sights on obtaining FDA approval for this revolutionary drug. If Vertex wins approval, it could add a massive $1 billion to its revenues each year from sales.
This new drug could push Vertex to the forefront of the painkiller market and the pharmaceutical industry as a whole. But Vertex has a number of other catalysts that could propel Vertex Pharmaceuticals toward a multi-billion dollar future.
VRTX’s Experimental Painkiller
Vertex Pharmaceuticals is a biotech company specializing in developing and selling medications for treating cystic fibrosis, a life-threatening disease affecting the lungs and digestive tracts. The company’s treatments for this disease include best-selling drugs like Trikafta, which brought Vertex $6.6 billion in just the first nine months of 2023. Now, it’s making a significant move in the painkillers market and adding another game-changer to its product offerings.
Recently, the company said that its experimental painkiller, which is being tested as an alternative to addictive opioids, significantly decreased post-surgery pain in late-stage trials. This new drug works by blocking pain signals at their origin before they reach the brain. In two late-stage studies on more than 1,000 patients, it was effective in reducing the intensity of pain after 48 hours.
Thanks to this news, VRTX stock had a mini rally of 2%, and the price increased to around $435.82. Still, this was enough to outpace the flat-lining S&P 500.
Even though it had impressive results, the drug, known as VX-548, didn’t work better than an opioid. But, with the opiod epidemic raising concerns for many Americans, Vertex could capitalize on the desire for an effective, and truly non-addictive painkiller.
The Opioid Epidemic
You probably know of Oxycodone, the most infamous opioid of all time. It was developed by a company called Purdue Pharma in the 1990s. The company promoted the opioid as a non-addictive drug, and Purdue Pharma incentivized many doctors to start prescribing Oxycodone to their patients across the USA.
Sadly, many Amercians became addicted to the drug they were told was non-addictive, leading to widespread abuse of Oxycodone. As a result, Purdue Pharma made more than $31 billion from it as of 2016.
But it came at a high price, in fact, 500,000 people died from overdosing on prescription and illicit opioids from 1999 to 2020. As you’d expect, Purdue Pharma was heavily criticized for its role in the epidemic. Purdue Pharma filed for bankruptcy in 2020, but oxycodone is still on the market leaving consumers and regulators are searching for a safer alternative to Oxycodone. This is where Vertex’s new painkiller steps in.
VX-548’s Potential
By the middle of this year, Vertex plans to file for FDA approval of VX-548 for the treatment of moderate-to-severe acute pain. This could be a game-changer for the company if it wins approval, and could also be a huge catalyst for VRTX stock.
According to Wall Street analysts’ estimates, sales from VX-548 could exceed $1 billion if it gets FDA approval. Comparatively, Purdue Pharma made around $3 billion in revenue each year since 2002, mainly from sales of OxyContin.
With time, VRTX could see similar revenue from sales of VX-548. Since the drug is not physically addictive like OxyContin, sales may never match that of Purdue Pharma’s, however its worth noting the impressive size of the pain relief market. Around 80 million patients are prescribed medicine for moderate-to-severe acute pain every year in the US and the chronic pain market is valued at more than $2.5 billion. According to estimates by RBC analysts, Vertex’s drug could earn between $300 to $400 million annually from this market.
VRTX Stock Catalysts
Besides VX-548, VRTX has two other catalysts that could make VRTX stock one to watch in 2024. The first is Exa-cel.
In 2015, Vertex entered into a strategic research collaboration with CRISPR Therapeutics (NASDAQ: CRSP). Together, they developed Exa-cel, a gene-editing therapy for sickle cell disease and beta thalassemia.
Fast forward to January of 2024, the FDA gave Exa-cel early approval, making it the first-ever gene therapy developed to treat rare blood disorders. But, the general public turned against the two companies as soon as they revealed Exa-cel’s price tag. It’s not unusual for gene therapy to be expensive, as the average cost of a gene therapy is between $1 million and $2 million per dose. Exa-cel’s price, however, is above the average at $2.2 million.
Clearly, the vast majority of the people affected by sickle cell disease and beta-thalassemia won’t be able to afford this treatment. Still, Vertex was quick to defend its pricing by comparing it to the cost of a lifetime of treatment for a sickle cell disease patient.
A lifetime of treatment for a patient with severe sickle cell disease can cost $4 million, and go up to $6 billion. On the other hand, a lifetime of treatment for a beta thalassemia patient ranges from $5 million to $7 million.
This is the argument that the two companies plan to present to health insurers, hoping to persuade them to reimburse Exa-cel. But, this won’t be an easy process, since health insurers are usually skeptical of new treatments and need to confirm whether patients will be cured, or if they may have to be re-treated down the line.
Despite these issues, Exa-cel still offers a good opportunity for Vertex, as there are 100,000 patients suffering from sickle cell disease in the U.S., and around 20 million other patients worldwide. Even if Vertex and CRISPR treat just 1% of this 20 million population, they’d gain $400 billion in sales of Exa-cel. The two companies intend to market Exa-cel globally and have already secured approval for the treatment in Saudi Arabia, Bahrain, and the UK.
European Commission Approval
Exa-cel aside, there’s another catalyst that could contribute to the company’s future growth. Vertex’s best-selling drug, Trikafta, and another drug called Kalydeco recieved approval in November 2023 from the European Commission for treatment of children ages 2 to 5 with cystic fibrosis. Thanks to this approval, both drugs will now have a much wider market in Europe.
VRTX Stock Forecast
Expecting VRTX to match the success of Purdue Pharma with OxyContin is unrealistic, however VX-548 could add notable revenue growth to the company given the market for painkillers and the search for a non-addictive alternative. As is, the company plans to apply for FDA approval for its painkiller by the middle of 2024, which could be a huge catalyst if the FDA gives VX-548 the green light.
The announcement that VX-548 had passed two Phase 3 trials sent VRTX stock to its 52-week high, and FDA approval could push VRTX stock to new highs. Looking at the daily timeframe, VRTX has been in an uptrend since 2022 – increasing 104% over this period. This steady growth is another reason to be bullish on VRTX.
Other catalysts like additional revenues from Exa-cel if health insurers agree to provide coverage for it and approval for Trikafta and Kalydeco by the European Commision are other reasons to be bullish on VRTX stock even if VX-548 does not recieve FDA approval.
temporary pain for long term gainsAs price action is currently receiving short term bearishness from sellers from being near all time highs, accumulation of shares are lessening however the uptrend has been strong overall. Look for more of a pullback leading into earnings and with strong support should provide another entry long into this uptrend that price has been on since DEC 2023. A good buy range with support would be over 387.
Stock of the Month: Vertex (VRTX)Our portfolio is up by more than 15% in the month of November. We are strictly following Mark Minervini's Trading Methodology. Here is a quick summary:
Mark Minervini's trading methodology, often encapsulated in his SEPA (Specific Entry Point Analysis) system, is a comprehensive approach to trading that emphasizes the importance of timing, risk management, and stock selection. Here’s a concise summary:
Trend Template: Minervini looks for stocks in a strong uptrend, using specific criteria for moving averages and price action to determine the health of the trend.
Volatility Contraction Pattern (VCP): He identifies stocks undergoing a VCP, a series of tightening price consolidations which often precede a significant breakout.
Risk Management: He sets strict stop-loss orders to limit potential losses, often using a maximum risk threshold per trade to manage overall portfolio risk.
Buy Points: Minervini waits for a proper pivot point before entering a trade, ensuring the stock is moving on high volume out of a sound base pattern.
Leadership: Preference is given to market leaders, stocks that outperform the market with strong earnings growth, sales, return on equity, and profit margins.
Market Direction: He trades in harmony with the overall market direction, increasing exposure during bull markets and preserving capital during bear markets.
By focusing on these key principles, Minervini aims to capture significant trends, minimize losses, and compound gains efficiently. Remember, this strategy requires discipline, continuous learning, and the ability to adapt to changing market conditions.
Stock of the Month November: Vertex
Detailed Technical Analysis
Price and Moving Averages : The price of VRTX has recently experienced a bullish breakout. It is trading above all key moving averages (MA), including the 50-day, 100-day, and 200-day MAs, which are aligned in ascending order—a bullish signal known as a 'golden cross'. The 50-day MA is often used as a short-term trend indicator, and its position above the longer-term MAs suggests a strong upward trend.
Volume : There's a noticeable increase in volume accompanying the price rise, which is a positive sign as it indicates strong buying interest.
Moving Average Convergence Divergence (MACD): The MACD line is above the signal line and above zero, which is bullish. The histogram is showing increasing momentum to the upside.
Relative Strength Index (RSI): The RSI is above 70, which typically indicates overbought conditions. However, in strong trends, the RSI can remain overbought for extended periods.
IBD Ratings: The IBD (Investor's Business Daily) ratings show a high relative strength rating of 93, suggesting that the stock is outperforming 93% of all other stocks in terms of price performance.
Bollinger Bands: The price has moved towards the upper Bollinger Band, which could signal that the stock is overextended in the short term.
Support and Resistance: The chart shows previous resistance around the $360 level, which appears to have been decisively breached and may now serve as support.
Candlestick Analysis: The recent candlesticks show strong bullish bodies, which confirms the buyers' control.
Price Targets: If you're using chart patterns for price targets, the recent breakout suggests a continuation of the uptrend.
Potential Risks: The overbought RSI readings could indicate a potential pullback or consolidation in the near term. Additionally, the elevated volume on up days should be monitored to ensure it doesn't start declining, which could signal a weakening trend.
Here is a link top our updated portfolio:
www.tradingview.com
Vertex’s Stock Heads for All-Time HighVertex Pharmaceuticals Inc. shares were on track for an all-time high Wednesday after the company released new data from a trial of its investigational non-opioid pain medicine.
The stock jumped more than 10% Wednesday morning, on pace for its largest percentage gain in more than three years, and was set to cross the $100 billion market-capitalization threshold for the first time.
The company’s experimental pain medicine VX-548 produced statistically significant, clinically meaningfully reductions in pain intensity in people with diabetic peripheral neuropathy, a type of nerve damage that can affect people with diabetes, Vertex said in a release.
The pain control seen with the drug appears comparable to the “gold standard” pain medicine pregabalin, which is marketed by Viatris Inc. under the brand name Lyrica, Evercore ISI analyst Liisa Bayko wrote in a report Wednesday. Evercore analysts raised their price target on Vertex shares to $405, from $389 previously.
The new data on the pain medicine “looks at least as good as or better than investor expectations,” Jefferies analysts said in a note Wednesday.
Vertex is working to quickly advance the treatment to Phase 3 studies in diabetic peripheral neuropathy, Vertex’s chief medical officer, Dr. Carmen Bozic, said in a statement. Phase 3 results from a trial of the drug in acute pain are expected in the first quarter of next year.
Vertex shares have gained 37% in the year to date, while the S&P 500 is up 21%.
NASDAQ:VRTX is trading above the 50, 100 & 200-day Moving Averages indicating the trend might continue.
Vertex Pharmaceuticals: Riding the Bullish Wave with a Bull Put In the world of trading, there are a variety of strategies that investors can employ to maximize their returns. One such strategy that has gained popularity in recent years is the vertical spread bull put. This strategy involves buying a put option with a lower strike price and selling a put option with a higher strike price.
Understanding Vertical Spread Bull Puts
A vertical spread bull put is a type of options trading strategy that involves simultaneously buying and selling put options with different strike prices. The strategy is designed to benefit from a rise in the underlying stock price.
Benefits of Vertical Spread Bull Puts
Vertical spread bull puts offer several advantages to traders, including:
Limited risk: The maximum loss on a vertical spread bull put is limited to the difference between the strike prices minus the premium paid for both options.
Limited capital requirement: The trader only needs to invest the premium for both options, which is typically lower than the cost of purchasing a single option.
Potential for high reward: If the underlying stock price rises significantly, the trader can profit significantly.
Vertex Pharmaceuticals: A Potential Opportunity
Vertex Pharmaceuticals (VRTX) is a biotechnology company that develops innovative medicines for the treatment of serious diseases. The company's stock price has been on an upward trend in recent months, and there is potential for further growth.
Using Vertical Spread Bull Puts on VRTX
A vertical spread bull put on VRTX could be a profitable trading strategy. For example, a trader could buy a put option with a strike price of $320 and sell a put option with a strike price of $310. The options would expire on January 19, 2024.
Potential Profit
If the VRTX stock price rises above $320 by January 19, 2024, the trader will keep the premium from both options, which will be a profit.
Potential Loss
If the VRTX stock price falls below $310 by January 19, 2024, the trader will lose the premium paid for both options.
Conclusion
Vertical spread bull puts can be a profitable trading strategy for investors who believe that an underlying stock price will rise in value. With careful analysis and risk management, traders can use this strategy to maximize their returns.
DISCLAIMER
Do your research: Before entering into any options trade, it is crucial to conduct thorough research on the underlying stock and the market conditions.
Manage your risk: Set stop-loss orders to limit your potential losses.
Use technical analysis: Technical analysis can help you identify potential entry and exit points for your trade.
Practice before you trade: Demo accounts can provide a safe environment to practice your trading strategies
VRTX shortHi traders,
let's have a look at VRTX analysis on daily timeframe.
The support at 342$ has been retested many times however, this time we are expecting support to fail.
If horizontal support fails and the price breaks upslopping support (blue line), it will look more bearish and short position can be taken.
We define 3 targets which are shown on the chart. Reaching target 3 may take a lot of time, therefore patience is required.
Enter short position only if the price breaks strong support.
Do you agree?
Trading Idea: Buy Vertex Pharmaceuticals (VRTX) StockVertex Pharmaceuticals (VRTX) has experienced a decline of around 5.84% in its share price over the past month. However, based on the provided facts, it appears that Vertex Pharmaceuticals is in a strong financial position and could be a good investment opportunity.
Here is the core logic behind this trading idea:
Net Income: Vertex Pharmaceuticals currently has a net income of $1 billion, indicating a strong profitability.
Net Income Ratio: The net income ratio, calculated as revenues minus expenses, interest, and taxes, is currently at 41.69% for Vertex Pharmaceuticals. This high ratio suggests efficient cost management and profitability.
Earnings Per Share (EPS): Vertex Pharmaceuticals generates $4 per share in earnings. This indicates a strong financial performance on a per-share basis.
Diluted Earnings Per Share: The diluted earnings per share for Vertex Pharmaceuticals currently stands at $3.97. This shows that the company's earnings are not diluted significantly by additional shares.
Total Current Assets: Vertex Pharmaceuticals possesses $13.87 billion in total current assets. This indicates a strong financial position and liquidity.
Based on the provided facts, Vertex Pharmaceuticals meets the criteria for a low-risk mid-term investment strategy. The company has a high net income, a net income ratio of over 20%, earnings per share and diluted earnings per share of over 2, and total current assets in excess of 8 billion.
Considering these factors, it could be a good idea to buy Vertex Pharmaceuticals (VRTX) stock for a short investment horizon and a moderate risk tolerance.
Technical Outlook
In the current state of affairs, Vertex Pharmaceuticals (VRTX) has climbed 28.17 away from its existing support level at 341.9. The stock price is now at $349.34.
Vertex price action is receding away from a Fibonacci support level at $355.28.
The stock has experienced a 3-day downtrend, shedding $20.61 or 5.57% in today's session.
After hitting a low of 348.54 yesterday, Vertex settled at 349.34, consolidating its losses.
Despite the recent downward movement, Vertex retains a "Neutral" rating.
Here are some key facts about Vertex Pharmaceuticals:
The stock has outperformed the Nasdaq by 6.12% so far this year.
Vertex currently has a market cap of $90.16 billion.
Yesterday, the trading volume for Vertex was 3.11 million, which is 227% higher than the average.
In comparison to other themed assets, Eli Lilly and Company saw a decrease of 22.28 or 3.65% in yesterday's session, while Novo Nordisk lost 2.77 or 2.79%. On the other hand, Pfizer experienced a bullish session, soaring to 30.19 from 29.26.
VRTX: opened a new 10% positionWe have added a new position and here is a link to the updated portfolio:
www.tradingview.com
VRTX had a positive earnings surprise on Nov 6th which pushed the price up to new highs. These new highs have been followed by a natural pullback which occured under low trading volume.
The new position has been added as the price broke through yesterdays high - a classical low risk pullback entry.
VRTX shows an exceptional RS according to IBD criteria which makes this trade a high momentum play.
General Selection Criteria:
Introducing our cutting-edge trading strategy, a synergy of Cathy Wood's keen fundamental analysis and Mark Minervini's acclaimed trend template criteria.
Imagine having the foresight to identify high-potential technology stocks that are not just promising on paper but are actively demonstrating robust performance in the market. That's the core of our approach. We meticulously select stocks that Cathy Wood's methodology identifies as leaders in technological innovation, ensuring that each company has a solid foundation for growth. But we don't stop there.
We apply Mark Minervini's trend template to verify that these stocks are not only fundamentally sound but are also in a confirmed stage 2 uptrend. This dual-layered strategy ensures that you're investing in companies that are both revolutionizing their industries and are currently capturing the market's momentum.
With our trading strategy, you're not just betting on potential; you're investing in technology stocks that are set to soar, backed by the analytical prowess of two of the most respected names in the trading world. Join us, and be part of a select group of traders who demand the best of both worlds: groundbreaking innovation and proven market trends.
Vertex at its VertexThe 1-2-3-4-5 Impulse Wave (blue wave) formation on VRTX is nearly complete. We can see a rising wedge (white colour) after impulse wave 3. This is impulse wave 5, which can be in the form of a wedge. VRTX is consolidating at the top. It may make one last effort to reach the top, form a double top and then break down.
Another way to confirm formation of impulse wave 5 is to look for RSI divergence between wave 3 and wave 5. There, indeed is RSI divergence (yellow lines).
We may soon expect start of A-B-C Corrective Wave.
Will Vertex Get More Vertical?Vertex Pharmaceuticals has been quietly sitting near record highs, and now some traders may look for movement to the upside.
The first pattern on today’s chart is the tight consolidation pattern since early August. VRTX barely fell despite a steeper pullback in the broader market -- a potential sign of relative strength.
The narrow range also pushed Bollinger Bandwidth to its narrowest since early 2020. Are prices due to start moving again?
Next, the stock ended Monday at $352, its highest closing price in six weeks. That might draw fence sitters from the sidelines.
Also consider the series of higher weekly lows since the spring. It could be a sign of buyers lurking near current prices.
Finally, prices have remained near the 50- and 100-day simple moving averages (SMAs) without breaking under them. That could suggest the longer-term uptrend remains in effect.
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$VRTX with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NASDAQ:VRTX after a positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 75%.
Symmetrical TrianglePrice appears to have been in a Rectangle which is a consolidation pattern.
Rectangles are also known as Horizontal Trading Ranges and these can break up or down. This one broke to the upside.
Looks like a rising wedge formed which is bearish in the end, although price can break upward from a rising wedge. Price fell out of the wedge to the downside. Rising wedges signal too much supply inside the wedge and both trendlines slope up and narrow at the apex.
Small Symmetrical triangle has formed with the top line representing resistance and the bottom line is support. Triangles are neutral until broken with a trend in that direction. Some would wait for 2 closes in that direction, but this can vary. We are all different (o:
Targets calculated using the width of the wide end of the triangle and Fib levels were applied.
No recommendation.
VRTX Entry, Volume, Target, StopEntry: with price above 354.47
Volume: with volume greater than 2M
Target: 391 area
Stop: Depending on your risk tolerance; 342.3 gets you 3/1 Reward to Risk Ratio.
This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
