Every time Vertex Pharmaceuticals (VTKX) becomes as technically oversold as it is now, it bounces back strong. In fact, if you pull up a one-year chart of VRTX, with RSI, MACD, and Williams’ %R, you’ll see that when these indicators all drop into oversold territory, the stock bounced in May 2025, in December 2024, and in April 2024.

Now, after dipping on news that its promising pain drug VX-993 performed poorly in a Phase 2 trial and wouldn’t advance to the next stage of trials, it’s oversold again – and slowly starting to bounce back. Helping, a day after VRTX’s bad news, CEO Reshma Kewalramani bought 10,000 shares of about $3.9 million, paying around $390 a share.

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With a good deal of negativity now priced into the stock, and a CEO putting her money where her mouth is, we expect the stock to come back strong.From its last traded price of $ 392.79, we’d like to see it initially retest $410. Longer-term, we’d like to see VRTX refill its bearish gap at around $460 a share.

Sincerely,

Ian Cooper