TIME, SYF, and SRPT stocks are making notable moves on the charts today
The Dow is in the red this afternoon, but stocks are still set for solid weekly and monthly gains. Among specific stocks on the move are media issue Time Inc (NYSE:TIME), financial concern Synchrony Financial (NYSE:SYF), and biotech Sarepta Therapeutics Inc (NASDAQ:SRPT). Here's a quick look at what's moving shares of TIME, SYF, and SRPT.
Time Says It's Not Selling, Shares Spiral Lower
TIME stock is the biggest loser on the New York Stock Exchange today, after the company said it will not sell itself. At last check, the shares were down 18.6% at $14.90, earning a spot on the short-sale restricted (SSR) list, and on pace for their lowest close since the publisher rejected a buyout bid back in late November. Analysts may now need to re-evaluate their price targets, since the consensus 12-month mark for Time Inc stands at $20.50.
Synchrony Financial Gets Crushed After Earnings
SYF is also SSR today, down 15.6% at $27.90, following disappointing first-quarter earnings results. This puts the shares 26.7% below their all-time high of $38.06 from Jan. 4, and Synchrony Financial certainly looks vulnerable to bearish analyst attention. At the moment, 11 of 14 brokerage firms rate SYF stock a "strong buy," with no "sell" ratings on the books.
Sarepta Therapeutics Stock Sizzles After Q1 Results
SRPT stock is rallying today, up 3.3% at $35.85, after earlier topping out at $39.34, thanks to impressive first-quarter results. The company also announced that CEO Edward Kaye plans to step down later this year. Analysts were quick to weigh in, with analysts at Leerink saying, "With an upcoming switch in leadership, prospect of a sale may resonate with some investors." In addition, the brokerage firm raised its price target to $52 from $47, territory not seen since October. Conversely, RBC slashed its price target to $60 from $91. Meanwhile, call buyers should be happy with today's move from Sarepta Therapeutics Inc. The stock has a 10-day call/put volume ratio of 9.32 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks in the 92nd annual percentile.