Investors with significant funds have taken a bearish position in Vertex Pharmaceuticals VRTX, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in VRTX usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 8 options transactions for Vertex Pharmaceuticals. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 12% being bullish and 75% bearish. Of all the options we discovered, 7 are puts, valued at $298,503, and there was a single call, worth $28,750.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $420.0 to $450.0 for Vertex Pharmaceuticals during the past quarter.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Vertex Pharmaceuticals's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Vertex Pharmaceuticals's significant trades, within a strike price range of $420.0 to $450.0, over the past month.
Vertex Pharmaceuticals Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| VRTX | PUT | SWEEP | BEARISH | 01/17/25 | $22.8 | $19.1 | $22.64 | $450.00 | $54.2K | 102 | 287 |
| VRTX | PUT | SWEEP | BEARISH | 01/17/25 | $22.3 | $20.5 | $22.3 | $450.00 | $51.3K | 102 | 96 |
| VRTX | PUT | SWEEP | NEUTRAL | 01/17/25 | $22.3 | $22.2 | $22.38 | $450.00 | $49.1K | 102 | 144 |
| VRTX | PUT | TRADE | BULLISH | 01/17/25 | $22.8 | $21.7 | $22.1 | $450.00 | $44.2K | 102 | 262 |
| VRTX | PUT | SWEEP | BEARISH | 01/17/25 | $22.0 | $20.9 | $21.95 | $450.00 | $43.8K | 102 | 238 |
About Vertex Pharmaceuticals
Vertex Pharmaceuticals is a global biotechnology company that discovers and develops small-molecule drugs for the treatment of serious diseases. Its key drugs are Kalydeco, Orkambi, Symdeko, and Trikafta/Kaftrio for cystic fibrosis, where Vertex therapies remain the standard of care globally. Vertex has diversified its portfolio through Casgevy, a gene-editing therapy for beta thalassemia and sickle-cell disease. Additionally, Vertex is evaluating small-molecule inhibitors targeting acute and chronic pain using nonopioid treatments, and small-molecule inhibitors of APOL1-mediated kidney diseases. Vertex is also investigating cell therapies to deliver a potential functional cure for type 1 diabetes.
Having examined the options trading patterns of Vertex Pharmaceuticals, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Vertex Pharmaceuticals
- With a volume of 415,873, the price of VRTX is down -0.03% at $465.84.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 87 days.
Expert Opinions on Vertex Pharmaceuticals
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $500.0.
- An analyst from HC Wainwright & Co. persists with their Buy rating on Vertex Pharmaceuticals, maintaining a target price of $600.
- An analyst from Piper Sandler persists with their Overweight rating on Vertex Pharmaceuticals, maintaining a target price of $535.
- An analyst from Canaccord Genuity persists with their Sell rating on Vertex Pharmaceuticals, maintaining a target price of $376.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $480.
- An analyst from Barclays has revised its rating downward to Equal-Weight, adjusting the price target to $509.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Vertex Pharmaceuticals, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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