Financial giants have made a conspicuous bearish move on Vertex Pharmaceuticals ( VRTX ). Our analysis of options history for Vertex Pharmaceuticals ( VRTX ) revealed 10 unusual trades.

Delving into the details, we found 20% of traders were bullish, while 80% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $239,159, and 7 were calls, valued at $371,543.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $400.0 and $485.0 for Vertex Pharmaceuticals ( VRTX ), spanning the last three months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Vertex Pharmaceuticals's ( VRTX ) options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Vertex Pharmaceuticals's ( VRTX ) whale trades within a strike price range from $400.0 to $485.0 in the last 30 days.

Vertex Pharmaceuticals Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Vertex Pharmaceuticals

Vertex Pharmaceuticals ( VRTX ) 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.

Following our analysis of the options activities associated with Vertex Pharmaceuticals ( VRTX ), we pivot to a closer look at the company's own performance.

Present Market Standing of Vertex Pharmaceuticals

With a volume of 1,002,194, the price of VRTX is up 1.42% at $468.23.

RSI indicators hint that the underlying stock may be overbought.

Next earnings are expected to be released in 7 days.

What Analysts Are Saying About Vertex Pharmaceuticals

5 market experts have recently issued ratings for this stock, with a consensus target price of $491.2.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.

* An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $480.

* Consistent in their evaluation, an analyst from HC Wainwright & Co. keeps a Buy rating on Vertex Pharmaceuticals ( VRTX ) with a target price of $550.

* Reflecting concerns, an analyst from Wells Fargo lowers its rating to Equal-Weight with a new price target of $460.

* Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Vertex Pharmaceuticals ( VRTX ), targeting a price of $533.

* An analyst from Scotiabank has decided to maintain their Sector Perform rating on Vertex Pharmaceuticals ( VRTX ), which currently sits at a price target of $433.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Vertex Pharmaceuticals ( VRTX ) with Benzinga Pro for real-time alerts.