Analyst Update: Keryx, Southwestern Energy, Signet Jewelers

Analysts adjusted their ratings and price targets on Keryx Biopharmaceuticals (KERX), Southwestern Energy Company (SWN), and Signet Jewelers Ltd. (SIG)

Feb 29, 2016 at 1:47 PM

Analysts are weighing in on drugmaker Keryx Biopharmaceuticals (NASDAQ:KERX), oil-and-gas stock Southwestern Energy Company (NYSE:SWN), and bling retailer Signet Jewelers Ltd. (NYSE:SIG). Here's a quick roundup of today's brokerage notes on KERX, SWN, and SIG.

KERX is 12.9% higher at $4.11 -- on pace for its best session in two years -- thanks to an upgrade to "outperform" from "market perform" at FBR. The analysts waxed optimistic on Keryx Biopharmaceuticals' drug pipeline, including Auryxia's prospects in 2016 and a drug to treat anemic pre-dialysis patients, which has the "potential to be a major driver for the stock." Although today's pop has lost some steam in the face of KERX's 80-day moving average, it could catch quite a few shorts off-guard. More than one-third of KERX's float is dedicated to short interest, representing close to 20 days' worth of pent-up buying demand, at the stock's average pace of trading.

SWN is 8% lower at $5.87 -- on track for a third straight loss, and still reeling from a dismal earnings showing on Friday. Pressuring the shares is a round of negative analyst attention, with Raymond James downgrading SWN to "underperform" from "market perform," and Scotia Howard Weil and RBC cutting their price targets to $7.50 and $9, respectively. Most analysts are already in Southwestern Energy Company's bearish corner, with just six out of 22 offering up "buy" or better opinions.

SIG is enjoying a rally after estimating fourth-quarter earnings above estimates, and approving an 18% increase to its quarterly dividend. Furthermore, Topeka subsequently lifted its price target on SIG to $169 from $160. The shares were last seen 10.2% higher at $109.26, and on pace to end atop their 30-day moving average for the first time since Jan. 22. Meanwhile, Signet Jewelers Ltd. calls are trading at 21 times the average intraday clip today, with Trade-Alert attributing most of the action to a large, bullish ratio spread at the March 115 and 120 calls.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Newfield Exploration Co., Yahoo! Inc., and Visa Inc and Analyst Downgrades: Ambarella Inc, Baidu Inc, and Valeant Pharmaceuticals Intl Inc.

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