The stock pick today is Vertex Pharmaceuticals (VRTX), which has been hugely bullish and a leader of the S&P 500. VRTX is currently looking over sold, and it is rising above long term support. As long it can stay above $215, VRTX is likely to continue to outperform.
Vertex Pharmaceuticals is a pharma technology company that engages in developing drugs for the treatment of cystic fibrosis (CF). VTRX markets TRIKAFTA, SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with CF that have specific mutations in their CF. They are also working on and have trials on other drugs for kidney diseases, sickle cell, and other diseases.
The technicals for VRTX are bullish due to solid earnings performance, robust price/volume activity, and positive technical signals activity. The Vertex stock doe has some weak financial metrics. However, VRTX’s earnings performance is very strong and could post high earnings in the coming quarters.
Bottom-line: The markets are precarious right now. Many analysts believe that the S&P is in a correction period and likely to be rested this week. Vertex stock could be a great stock to buy if you have the stomach for risk. Once the market rebounds, it will likely turn more bullish and reach new highs.
VRTX Stock Pivots
| Pivot | Classic | Fibonacci | Camarilla | Woodie | DM |
|---|---|---|---|---|---|
| S3 | 161.09 | 195.44 | 214.58 | 172.91 | — |
| S2 | 195.44 | 208.57 | 217.73 | 194.20 | — |
| S1 | 209.74 | 216.67 | 220.88 | 207.26 | 202.59 |
| P | 229.79 | 229.79 | 229.79 | 228.55 | 226.22 |
| R1 | 244.09 | 242.92 | 227.18 | 241.61 | 236.94 |
| R2 | 264.14 | 251.02 | 230.33 | 262.90 | — |
| R3 | 298.49 | 264.14 | 233.48 | 275.96 | — |
VRTX Stock Recommendations
Mar-04-20 Initiated Barclays Overweight $271
Jan-31-20 Downgrade Robert W. Baird Outperform → Neutral $210 → $230
Nov-19-19 Upgrade Guggenheim Neutral → Buy $252
Nov-12-19 Initiated SunTrust Buy $235
Oct-17-19 Resumed BofA/Merrill Buy $220
Sep-03-19 Upgrade Goldman Neutral → Buy $226 → $254
Aug-01-19 Downgrade Needham Buy → Hold
May-23-19 Resumed Citigroup Buy $205
May-21-19 Initiated Credit Suisse Outperform $209
Apr-12-19 Initiated Evercore ISI In-line
Mar-26-19 Upgrade William Blair Mkt Perform → Outperform
Mar-19-19 Downgrade SVB Leerink Outperform → Mkt Perform
Feb-06-19 Downgrade Maxim Group Buy → Hold
Jan-02-19 Downgrade Raymond James Outperform → Mkt Perform
Oct-26-18 Upgrade H.C. Wainwright Neutral → Buy $220
Oct-01-18 Initiated Cantor Fitzgerald Overweight $217
Aug-07-18 Reiterated Stifel Buy $182 → $200
Mar-05-18 Reiterated Maxim Group Buy $195 → $200
Feb-13-18 Reiterated JMP Securities Mkt Outperform $200 → $211
Feb-01-18 Reiterated Barclays Overweight $180 → $200
Market Today
It is an ugly day in the markets and not likely to turn around anytime soon.
- Futures Trade Limit Down in the Overnight Session
- Oil Falls as Saudi Arabia Slashes Prices Over the Weekend
- Energy Has Been a Sector to Avoid For More Than a Year
- Treasury Yields Tumble Further; High Yield in Focus
- Gold Remains a Safe-Haven in Times of Fear
Oil Markets Collapse
Crude oil lost more than 20% after Saudi Arabia “declared a price war” on the oil market and announced both huge discounts on oil and also hinted to increasing production.
Analysts are saying that this is caused by Russia’s unwillingness to support a reduction under OPEC+ agreement. Recently the US and several other non-OPEC major oil producers increased production while OPEC+ tried to stabilize prices. US and Canadian Shale miners are likely to get high the hardest because their cost to produce oil is much higher.
