Rite Aid, Opus Bank, Teva Pharmaceutical Downgraded

Analysts are weighing in on pharmacy chain Rite Aid Corporation (NYSE:RAD), bank stock Opus Bank (NASDAQ:OPB), and generic drugmaker Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA). Here's a quick roundup of today's bearish brokerage notes on RAD, OPB, and TEVA.

Rite Aid Price Target Cut at Mizuho

RAD sold off yesterday, after Walgreens Boots Alliance Inc (NASDAQ:WBA) lowered its offer price for Rite Aid Corporation by at least $2 billion, citing regulatory hurdles. As such, the stock's 14-day Relative Strength Index (RSI) closed at 19. And despite a brief trek into the green earlier, RAD was more recently seen extending its trek into oversold territory -- down fractionally at $5.71, and fresh off a two-year low of $5.68 -- after a price-target cut from Mizuho to $6.75 from $9. Mizuho said it would "update our model and our price target for RAD post the deal close."

Opus Bank Bear Gap Draws Negative Analyst Attention

Monday's post-earnings bear gap inspired a round of negative analyst attention for OPB overnight. Specifically, the stock was downgraded to "neutral" from "overweight" at J.P. Morgan Securities, although the brokerage firm upped its price target to $22 from $18.50. KBW and Sandler O'Neill, meanwhile, each lowered their price targets, to $23 and $22, respectively. OPB entered 2017 with a swift rejection from its 120-day moving average, and is down 33% year-to-date -- including today's 1% drop that has the stock trading at $20.20. The stock could feel even more pressure, should short sellers continue to climb on board. Short interest jumped 16% in the two most recent reporting periods, but accounts for just 5% of Opus Bank's available float.

Teva Pharmaceutical Down On Copaxone Blow

TEVA is down 5.1% at $32.77, after a U.S. District Court rejected four of its five patent infringement claims for its multiple sclerosis drug, Copaxone. In addition, TEVA shares were hit with a trio of price-target cuts from Goldman Sachs, Barclays, and Leerink, to $35, $38, and $39, respectively. However, BofA-Merrill Lynch upgraded the shares to "buy" from "neutral." Today's blow is the latest for the biotech, which is down 47% year-over-year -- and not far from its Jan. 23 nine-year low of $32.11 -- with a recent rally attempt rejected by its 50-day moving average. Meanwhile, TEVA's Schaeffer's put/call open interest ratio (SOIR) of 1.14 sits just 2 percentage points from an annual peak, indicating near-term traders have rarely been more put-skewed over the last 12 months.