Analyst Upgrades: Priceline Group Inc, JinkoSolar Holding Co., Ltd., and ACADIA Pharmaceuticals Inc.

Analysts upwardly revised their ratings and price targets on Priceline Group Inc (NASDAQ:PCLN), JinkoSolar Holding Co., Ltd. (NYSE:JKS), and ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Josh Selway

Nov 8, 2016 at 9:14 AM

Analysts are weighing in on travel stock Priceline Group Inc (NASDAQ:PCLN), alternative energy concern JinkoSolar Holding Co., Ltd. (NYSE:JKS), and biotech ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD). Here's a quick roundup of today's bullish brokerage notes for PCLN, JKS, and ACAD.

A number of analysts have weighed in bullishly on PCLN after the company's impressive quarterly results, as the shares climb 4% ahead of the open -- into record-high territory. At least 10 price-target increases have come through since yesterday's close, including one to $1,850 from RBC. Priceline Group Inc closed Monday at $1,480.33, 16% higher year-to-date -- and could potentially see additional gains should Hillary Clinton win at the polls today. Short-term options traders have been more put-skewed than usual, though, as PCLN's Schaeffer's put/call open interest ratio (SOIR) of 1.11 ranks in the 72nd annual percentile.

JKS is up 2% in pre-market trading, after Craig-Hallum initiated coverage with a "buy" assessment and a $36 price target -- representing 140% upside from yesterday's close of $14.99. In fact, JinkoSolar Holding Co., Ltd. hasn't traded above $36 since early 2014, as the shares have been in a steady downtrend in 2016. Not surprisingly, short sellers have taken notice. Almost 16% of the stock's float is sold short, representing seven sessions' of pent-up buying power, going by average daily volumes. Looking ahead, the company will release its quarterly earnings results ahead of the open next Wednesday, Nov. 16.

ACAD is rallying 13% ahead of the open, thanks to better-than-expected quarterly results. BofA-Merrill Lynch followed this up with an upgrade to "buy" from "neutral," though Leerink reduced its price target to $29 from $34. ACADIA Pharmaceuticals Inc. has been dreadful on the charts since peaking above $42 back in June, closing Monday at $22.99. Nonetheless, option bulls have been upping the ante in recent weeks, with long calls outpacing long puts by a nearly 9-to-1 ratio during the last 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX).

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