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Upgrades & Downgrades: YHOO, BMRN, HGSI, DNDN, and TSLA

Analysts adjusted their ratings on YHOO, BMRN, HGSI, DNDN, and TSLA

by 2/22/2012 11:44 AM
Stocks quoted in this article:

Analysts are weighing in today on Internet portal Yahoo Inc. (YHOO - 14.48), biotech stocks BioMarin Pharmaceutical Inc. (BMRN - 35.66), Human Genome Sciences (HGSI - 8.43), and Dendreon Corporation (DNDN - 13.84), and electric automaker Tesla Motors, Inc. (TSLA - 33.94). Here's a quick roundup of today's upgrades and downgrades of note.

  • First up, YHOO is down 1.8% after CLSA slashed its opinion to "underperform" from "buy." The stock is deepening its year-to-date deficit of 8.6%, and YHOO is now trading just below former support in the $14.50 area. Most analysts are on the fence when it comes to the Silicon Valley underdog, with Zacks reporting just nine "buy" or better ratings, compared to 17 "holds."
  • As for BMRN, the shares have edged up 1.1% following a "buy" initiation at Citigroup. The brokerage also added BMRN to its "top picks live" list, and doled out a $45 price target. The equity has been trending steadily higher since the March 2009 broad-market bottom, and BMRN is currently hovering just a few points below its current annual high of $38.95. The shares retreated last Friday on news of a wider-than-forecast fourth-quarter loss, but BMRN is now on track to reclaim a foothold atop its 50-day moving average.
  • RBC this morning downgraded HGSI to "sector perform" from "outperform," while Piper Jaffray lowered its rating to "neutral" from "overweight." The stock is down 5.5% on the heels of these negative notes, and HGSI is now at risk of snapping a four-week winning streak above its 10-week and 20-week moving averages. Going forward, these trendlines could resume their previous role as resistance.
  • Meanwhile, DNDN is down 1.1%, despite a price-target hike to $16 from $9 at Citigroup. The new target implies expected upside of more than 14% from Tuesday's close at $13.99. Most analysts have markedly lower expectations for DNDN, with Thomson Reuters pegging the stock's average 12-month price target at just $12.82.
  • Finally, TSLA is off 1.6%, with the shares unable to capitalize on a new "buy" rating from ThinkEquity. The stock is retreating from familiar resistance in the $35 area, which has served as a staunch technical ceiling since last November. Despite this looming roadblock, TSLA has managed to rally nearly 21% so far in 2012 -- a burst of positive momentum that has definitely won over analysts. According to Zacks, seven out of 10 brokerage firms have deemed the stock worthy of a "buy" or better.

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