Vertex Pharmaceuticals Target Price $300

Vertex has an interesting pipeline. It is working on a CRISPR-based, possibly curative treatment for sickle cell disease and beta-thalassemia in partnership with CRISPR Therapeutics. Data on two clinical trials were presented in December and Kewalramani also offered a brief update at the JP Morgan conference, saying “over 20 patients” had been dosed in the studies with enrollment likely to be completed this year.

The company has also submitted an Investigational New Drug (IND) application to the FDA for the first human trial of a cell therapy for Type 1 diabetes that employs a cell therapy designed to produce insulin-manufacturing pancreatic islet cells. The FDA hasn’t made a decision yet, but Kewalramani said they expect it to get the greenlight this year. The company’s diabetes focus is built on a $1 billion acquisition of Semma Therapeutics in 2019.

Vertex Pharmaceuticals closed up 0.285 at 229.665. Volume was 83% below average (consolidating) and Bollinger Bands were 66% narrower than normal.

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

Vertex Pharmaceuticals is currently 10.8% below its 200-period moving average and is in an upward trend.

Our volume indicators reflect volume flowing into and out of Vertex Pharmaceuticals at a relatively equal pace (neutral).

Our trend forecasting oscillators are currently bullish on Vertex Pharmaceuticals and have had this outlook for the last 33 periods.

Overall, the bias in prices is: Downwards.

A black body occurred (because prices closed lower than they opened).

During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles.

During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.

A spinning top occurred (a spinning top is a candle with a small real body).

Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close).

During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Three black candles occurred in the last three days.

Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.