Schaeffer's Trading Floor Blog

Analyst Downgrades: Lions Gate Entertainment Corp. (USA), MannKind Corporation, and Urban Outfitters, Inc.

Analysts downwardly revised their ratings on LGF, MNKD, and URBN

by 3/31/2014 9:39 AM
Stocks quoted in this article:

Analysts are weighing in today on entertainment company Lions Gate Entertainment Corp. (USA) (NYSE:LGF), biopharmaceutical firm MannKind Corporation (NASDAQ:MNKD), and specialty retailer Urban Outfitters, Inc. (NASDAQ:URBN). Here's a quick roundup of today's bearish brokerage notes.

  • LGF -- which has shed 14.6% over the past month to trade at $25.77 -- received a price-target cut to $28 from $36 at Cowen and Company today. Meanwhile, in the options pits, short-term speculators are more call-heavy than usual toward Lions Gate Entertainment Corp. (USA) right now. In fact, the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.41 ranks in the bottom 23% of its 12-month range. Perhaps some of this call activity can be attributed to short sellers picking up options-related insurance against potential near-term upside, as 12.2% of LGF's available float is sold short.

  • Piper Jaffray downgraded MNKD to "underweight" from "neutral" and slashed its price target to $1.50 from $5, in the wake of FDA questions regarding MNKD's inhaled diabetes drug Afrezza. Elsewhere, short sellers have made their presence known on MannKind Corporation. Short interest makes up a lofty 28.7% of the equity's float, which is equivalent to two weeks' worth of pent-up buying demand, at LGF's average daily volume. After plunging 17.7% last week, MNKD is down 6.6% this morning to trade at $4.51.

  • URBN -- which is down a mere 2.4% on a year-to-date basis to trade at $36.22 -- saw its price target decreased to $44 from $45 at Wedbush earlier today. Elsewhere, the brokerage crew appears more bullish toward Urban Outfitters, Inc., with 17 of the 24 covering analysts dishing out "buy" or better endorsements. However, the average 12-month price target of $43.87 represents significant expected upside of more than 21% from the shares' current perch.

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