Analysts are weighing in on tech giant Apple Inc. (NASDAQ:AAPL), healthcare stock Edwards Lifesciences Corp (NYSE:EW), and social media concern Facebook Inc (NASDAQ:FB). Here's a quick roundup of today's bullish brokerage notes on AAPL, EW, and FB.

• AAPL is 0.6% higher ahead of the bell, after receiving a price-target hike to $150 from $140 at Credit Suisse, which also added the stock to its "U.S. Focus List," calling AAPL one of its "top investment ideas." Brean Capital, meanwhile, lowered its price target on Apple Inc. to $155 from $170 -- still a 41% premium to the stock's Friday closing price of $109.99, and well into record-high territory. The shares have been tracking steadily higher since hitting a year-to-date low of $93.04 in early February, and last week retook their 160-day moving average -- a level the stock hadn't topped since early November. And near-term option traders have been more call-heavy on the equity than usual, as seen in AAPL's Schaeffer's put/call open interest ratio (SOIR) of 0.68 -- higher than 87% of the past year's readings.

• EW is set to pop 12.5% at the open after announcing positive results for its SAPIEN 3 heart valves over the weekend, and earning an upgrade to "buy" at BTIG. Plus, no fewer than 10 brokerage firms raised their price targets on the stock, to a range between $98 and $117 -- all above Edwards Lifesciences Corp's Friday close of $89.92. In fact, EW hit an all-time high of $90.06 on Friday, and looks poised to overtake that record today. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have bought to open more than two EW calls for each put over the last 10 sessions -- but this ratio sits in just the 43rd annual percentile.

• FB is 1.5% lower in electronic trading despite a $5 price-target hike to $150 at Axiom, as the company reported that shipping of some of its Oculus Rift virtual reality headsets will be delayed due to a parts shortage. And while Facebook Inc has been heading higher since an early February bounce off its 120-day moving average, closing Friday at $116.06, option traders still appear to be targeting a pullback. At the ISE, CBOE, and PHLX, the stock's 50-day put/call volume ratio of 0.65 is higher than 97% of all readings in the last 12 months.

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Stocks are signaling a positive start, thanks to rising oil prices. Meanwhile, among specific stocks in focus are electric car concern Tesla Motors Inc (NASDAQ:TSLA), regional airline issue Alaska Air Group, Inc. (NYSE:ALK), and biopharmaceutical firm Zafgen Inc (NASDAQ:ZFGN).

• Pre-orders for TSLA's Model 3 jumped to 276,000 over the weekend -- more than half of CEO Elon Musk's goal of 500,000 orders by the end of the decade. Against this backdrop, shares of TSLA are up 4.1% in electronic trading, after closing at $237.59 last Friday. Should the shares extend their recent momentum -- Tesla Motors Inc is up 68.4% from its Feb. 9 two-year low of $141.05 -- another round of bullish brokerage attention could be on the horizon. More than half of analysts maintain a "hold" or worse recommendation on TSLA, while the average 12-month price target of $238.06 is in line with the stock's current price.


• Putting a lid on recent rumors, ALK has confirmed it will purchase Virgin America Inc (NASDAQ:VA) for $2.6 billion to create the fifth-largest U.S. airline. While the news has shares of VA up 40% ahead of the bell, ALK is bracing for a 4.7% drop out of the gate. Heading into today's trading, Alaska Air Group, Inc. was up 33% from its Feb. 8 year-to-date low of $61.58, but running out of steam in the $82-to-$83 region -- and settling last week at $82.01. Option traders, meanwhile, have been buying to open puts relative to calls at a faster-than-usual clip in recent months. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), ALK's 50-day put/call volume ratio of 0.66 ranks in the 87th annual percentile.


• ZFGN is set to soar 14.6% out of the gate, after the company said its treatment for Prader-Willi Syndrome -- a life-threatening genetic obesity disorder -- was successful in a late-stage trial. The stock could certainly use a boost, considering it has shed 88% since hitting an all-time high of $55.36 last March, and closed Friday at $6.70. Today's projected price move could shake some of the weaker bearish hands loose. Short interest on Zafgen Inc jumped 10% in the most recent reporting period, and now accounts for 28.5% of the stock's available float, or 5.8 times the average daily trading volume.

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Analysts are weighing in on firearms maker Smith & Wesson Holding Corp (NASDAQ:SWHC), alternative energy stock SolarCity Corp (NASDAQ:SCTY), and phone maker BlackBerry Ltd (NASDAQ:BBRY). Here's a quick roundup of today's bearish brokerage notes on SWHC, SCTY, and BBRY.

• Cowen and Company downgraded SWHC to "market perform" from "outperform" this morning, sending the shares down 14.8% to $23.64. In its note, the brokerage firm cited potentially tougher background checks for gun buyers. Smith & Wesson Holding Corp recently pulled back from a record high of $30.44, seen March 18, after moving steadily higher for more than a year on support from its 120-day moving average. But in the option pits, it appears traders are targeting further downside. At the International Securities Exchange (ISE) Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have bought to open nearly three SWHC puts for each call during the past 10 sessions, with the resulting 10-day put/call volume ratio of 2.69 landing in the 97th percentile of its annual range.

• SCTY is up 3.3% at $25.08, despite a price-target cut to $56 from $65 at Stifel. SolarCity Corp announced this morning that it closed a renewable energy certificate transaction that will provide funding of up to $40 million. Analysts have been mostly in SCTY's corner, maintaining 11 "buy" or better ratings, compared to just four "holds." Plus, option traders continue to make bullish bets. As such, an unwinding of this optimism toward the underperformer -- SCTY is down more than 50% year-to-date -- could put pressure on the shares.

• RBC began coverage on BBRY with a "sector perform" rating and set an $8 price target this morning, while Deutsche Bank cut its price-target on the stock to $6.50 from $7 -- a discount to the shares' current value of $7.21, down 3.6% from Friday's close. A drop in quarterly revenue weighed on BlackBerry Ltd at the end of the week, but while option traders are still buying BBRY calls over puts at an unusually high rate, short interest on the stock is running high. Specifically, more than 14% of BBRY's available float is tied up in these bearish bets, accounting for nearly three full weeks of trading, at the stock's average daily volume.

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Sunedison Inc (NYSE:SUNE) has lost almost half of its remaining value today to trade at $0.24, after reports over the weekend suggested the solar firm is preparing to file for bankruptcy protection -- echoing previous rumors -- and that it is being sued by its yieldco, TerraForm Power Inc (NASDAQ:TERP), for breach of contract. Also, as the heavily indebted company looks to sell its India assets, it may have a buyer in the form of Adani Group. Against this backdrop, traders both in and out of the options arena are likely cheering SUNE's downfall.

In the options pits, the stock's 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands at 1.08 -- outstripping all but 9% of readings taken in the past year. What's more, SUNE's Schaeffer's put/call open interest ratio (SOIR) registers at 1.08, just 4 percentage points from a 12-month put-skewed peak. In other words, speculative players are more put-heavy than usual.

Options traders aren't the only ones betting on SUNE's downfall. During the latest reporting period, short interest on the stock spiked over 12%, and over half its float is currently sold short. Likewise, roughly 73% of analysts rate the shares a "hold" or worse.

If you've been following Sunedison Inc's (NYSE:SUNE) performance on the charts, this skepticism is anything but surprising. Year-over-year, the stock has lost 99% of its value, and earlier touched an all-time low of $0.20.

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Analysts are weighing in on fertilizer producer Potash Corporation of Saskatchewan (USA) (NYSE:POT), oil-and-gas stock Chesapeake Energy Corporation (NYSE:CHK), and medical device maker Iradimed Corp (NASDAQ:IRMD). Here's a quick roundup of today's brokerage notes on POT, CHK, and IRMD.

• POT is 4.5% lower at $16.27, after CIBC cut its opinion on the stock to "sector performer" from "sector outperformer," and its price target to $20 from $23. Potash Corporation of Saskatchewan (USA) went from an eight-year low of $14.64 in late January to a year-to-date peak of $19.37 in early March, but has since backpedaled, and is now on pace to breach its 50-day moving average. But while analysts are less than hopeful -- two-thirds rate the equity a "hold" or worse -- option traders have been ramping up their bullish bets in recent weeks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), POT's 10-day call/put volume ratio of 8.42 sits 2 percentage points from an annual high.

• Ladenberg Thalmann raised its price target on CHK to $4 from $3, but the shares are down 3.9% at $3.68, as oil prices fall. After touching a 16-year low of $1.50 in February, Chesapeake Energy Corporation nearly quadrupled in short order, hitting $5.76 in early March. The stock has since cooled off, and is now testing a foothold atop its 80-day moving average. And while option traders appeared to be eyeing another post-Easter pop, analysts aren't so optimistic, giving CHK 17 "hold" or worse ratings, and just one "strong buy."

• IRMD is off 16.8% at $16.11, after the company reported that its FDA application for an MRI-compatible IV infusion pump was denied, and received a price-target cut to $25 from $30 at Roth Capital. Iradimed Corp has shed 43% of its value in 2016, and traders have been betting on more downside. Short interest on the stock rose by nearly 18% during the last two reporting periods and now accounts for 22% of IRMD's total available float. At the equity's typical pace of trading, it could take about three weeks to buy back all these bearish positions.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Apple Inc., Edwards Lifesciences Corp, and Facebook Inc and Analyst Downgrades: Smith & Wesson Holding Corp, SolarCity Corp, and BlackBerry Ltd.

Biotech stocks are on the move today, with the SPDR S&P Biotech ETF (XBI) up 2.3% at $54.36. Below we'll take a look at three drugmakers with notable news and price action today: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), Regeneron Pharmaceuticals Inc (NASDAQ:REGN), and Natus Medical Inc (NASDAQ:BABY).

• ACAD is 6.4% higher at $30.49 after Baker Brothers upped its stake in the company to 21.8%, according to a recent filing. ACADIA Pharmaceuticals Inc. gained 41% last week, boosted by upbeat drug data and bullish analyst attention. But the shares are still down 14.5% year-to-date. While all seven brokerage firms following the stock call it a "strong buy," short interest still represents more than one-fifth of ACAD's available float. Option traders also have yet to show optimism. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day put/call volume ratio of 1.00 sits higher than 90% of the past year's readings.

• Leerink raised its price target on REGN to $523 from $505, boosting the shares 0.7% to $408.21. Encouraging drug news helped Regeneron Pharmaceuticals Inc add about 12.4% on Friday, and sent call buyers into a frenzy. But the stock is still down about 25% in 2016, and more than half of analysts give REGN a "hold" or "strong sell" rating. Still, option traders seem to be eyeing more upside. The equity's 10-day ISE/CBOE/PHLX call/put volume ratio of 2.12 is in the top percentile of its annual range, and traders are still busy buying to open calls today. In fact, these bullish bets are trading at 1.5 times their typical intraday rate, doubling puts, with short-term speculators initiating long positions at the weekly 4/8 420-strike call.

• BABY lowered its revenue outlook for the first quarter, sending the shares reeling 20.5% to trade at $31.52 -- within striking distance of its annual low of $29.34, seen in late August. Today's drop represents the stock's worst single-day plunge in seven years, and brings Natus Medical Inc's year-to-date loss to 34.4%, which could inspire a swing in sentiment among the brokerage crowd. All three analysts providing coverage currently rate BABY a "buy" or better. Meanwhile, short interest has been on the rise -- up 37% during the most recent two-week reporting period. But as BABY is firmly on the short-sale restricted list today, traders have been taking to the options pits, where contracts are crossing at eight times the typical intraday rate. While absolute option volume is still quite low, puts more than double calls, with some buy-to-open action spotted at the April 30 put -- today's most active strike by a mile.

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Asian markets finished mostly lower amid declining crude futures. In Japan, the Nikkei plunged 2.4%, as the yen climbed to a 17-month high against the U.S. dollar. Additionally, bank stocks tumbled after Bank of Japan Governor Haruhiko Kuroda said the central bank could "undertake additional monetary easing without hesitation," if deemed appropriate. Elsewhere, Hong Kong's Hang Seng gave back 1.6%, and South Korea's Kospi dropped 0.8%. China's Shanghai Composite, meanwhile, bucked the regional bearish bias to tack on 1.5%.

European stocks are swimming in red ink at midday, as oil prices fall. Also weighing on stock markets is a global growth warning from International Monetary Fund (IMF) Managing Director Christine Lagarde, as well as disappointing manufacturing data for the eurozone and a drop in German industrial orders. At last check, the German DAX is off 2.3%, the French CAC 40 is down 2.2%, and London's FTSE 100 is 1.3% lower.

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Analysts are weighing in on networking specialist Cisco Systems, Inc. (NASDAQ:CSCO), cybersecurity stock Palo Alto Networks Inc (NYSE:PANW), and home builder PulteGroup, Inc. (NYSE:PHM). Here's a quick roundup of today's bearish brokerage notes on CSCO, PANW, and PHM.

• CSCO is trading 2.3% lower ahead of the open, after BofA-Merrill Lynch downgraded its rating to "neutral." Still, 18 of the 26 analysts that track the stock recommend buying it. Cisco Systems, Inc. gapped higher after an earnings beat in early February, and at $28.14, holds a 3.6% year-to-date lead. Options traders have been bearish, though, according to CSCO's 50-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). At 1.50, this reading represents an annual high. 

• PANW has analysts coming at it from both directions this morning, as Goldman Sachs cut its price target to $188 from $191 -- but maintained its "buy" assessment -- while Raymond James hiked its price target to $188 from $180. The shares closed Monday at $161.59 after recently taking back their 100-day moving average, and have beaten out the S&P 500 Index (SPX) by 15 percentage points in the past 40 sessions -- though the shares are pointed 3.2% lower ahead of the bell. Short sellers love the stock. Specifically, short interest on Palo Alto Networks Inc surged by 53.1% during the last two reporting periods to an all-time high of 7.1 million shares -- or 4.3 times the stock's average daily volume. 

• On Monday, PHM fell 6.6% amid a front-office shake-up. The stock is on track to lose another 1.8% this morning, after J.P. Morgan Securities lowered its outlook to "neutral" from "overweight." Most brokerages already have a skeptical stance on PulteGroup, Inc., which has dropped over 24% in the past 12 months to trade at $17.21, and hit a two-year low of $14.61 in January. It's not surprising, then, to see that nearly two PHM puts have been bought to open for each call during the past to weeks at the ISE, CBOE, and PHLX. The resultant 10-day put/call volume ratio of 1.73 ranks in the high 83rd percentile of its annual range.

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Analysts are weighing in on athletic apparel maker Under Armour Inc (NYSE:UA), fast food stock Wendy's Co (NASDAQ:WEN), and telecommunications titan AT&T Inc. (NYSE:T). Here's a quick roundup of today's bullish brokerage notes on UA, WEN, and T.

• UA is looking for yet another strong second quarter, and it appears to be on the right track early, with FBR upping its price target on the stock to $118 -- representing all-time-high territory. The shares have been notching higher lows and highs since their post-earnings bull gap in late January to trade at $82.60, and could be poised for more gains if the pessimism across Wall Street unwinds. For example, over 15% of Under Armour Inc's float is sold short, and it'd take short sellers more than two weeks to cover their positions, at average daily volumes. 

• After finding support around the $9 level in mid-February, WEN has surged higher to trade at $10.85. This price action has apparently impressed Evercore ISI, which initiated coverage with a "buy" rating -- though 69% of analysts still say the stock's a "hold" or worse. Over at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), however, speculators have been betting on a breakout. During the past 10 weeks, nearly 6,600 Wendy's Co calls have been bought to open across these exchanges, compared to just 200 puts. 

• T has been on fire in 2016, gaining 14.3% at $39.33, and hitting a seven-year high of $39.72 just last week. Macquarie has responded to this technical performance by starting coverage with an "outperform" label, which matches the general opinion on the Street. To be more specific, 14 of the 23 analysts that cover AT&T Inc. recommend buying it, while none consider it a "sell." 

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Stocks are lower at the open, as crude futures crumble. Meanwhile, among specific stocks to watch in the news are social media firm Twitter Inc (NYSE:TWTR), electric car company Tesla Motors Inc (NASDAQ:TSLA), and drugmaker Allergan plc Ordinary Shares (NYSE:AGN).

• After breaking out yesterday amid rumors of a possible high-profile partnership, shares of TWTR are up 3.4% at $17.67. Boosting the stock is buzz that Twitter Inc has won the rights to stream the NFL's Thursday night games, reportedly outbidding such heavyweights as Amazon.com, Inc. (NASDAQ:AMZN) and Yahoo! Inc. (NASDAQ:YHOO). Longer term, TWTR has struggled, shedding roughly two-thirds of its value year-over-year. Analysts remain relatively split, however, with 12 maintaining a "buy" or better rating on TWTR, and 15 deeming the stock a "hold" or worse.


• TSLA has been on a wild ride in recent weeks, as optimism over the company's new Model 3 helped lift the stock nearly 13% from its most recent low of $215, tagged on March 24. The stock is down 2.1% to $241.83 this morning, after Tesla Motors Inc explained that "severe shortages" of Model X parts were to blame for a first-quarter delivery miss. Today's price move could come as a welcome respite for short sellers, considering more than 31% of TSLA's float is sold short. It would take nearly seven sessions to cover these bearish bets, at the stock's average daily pace of trading.


• The shares of AGN dropped 14.9% dropped out of the gate to $236.29 -- and touched a new annual-low of $226.62 -- following a potential regulatory hurdle to the company's proposed merger with Pfizer Inc. (NYSE:PFE). Specifically, the U.S. Treasury Department on Monday said it plans to implement measures to stop corporate tax inversions, including putting limits on foreign firms buying domestic assets. Year-to-date, Allergan plc Ordinary Shares have given back 24%, and options traders have shown a preference for long puts over calls in recent weeks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), for instance, 1.17 puts have been bought to open for each call in the past 20 sessions.

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Shares of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) are blowing up, after the drugmaker's cirrhosis treatment received a bullish nod from the Food and Drug Administration (FDA). At last check, the stock was up 18.3% at $157.97, sending its options pits into overdrive.

Specifically, intraday options volume on ICPT is running at six times the usual level. By the numbers, almost 2,500 calls are on the tape versus 850 puts. This call-skew is unusual, given longer-term data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). Specifically, traders have bought to open 2.7 puts for every calls during the past two weeks, and resultant put/call volume ratio ranks in the 99th annual percentile.

Echoing this put bias is ICPT's Schaeffer's put/call open interest ratio (SOIR) of 1.23. Not only does this reading display an absolute preference for puts over calls among short-term options traders, it also outstrips 86% of comparable metrics taken in the past year.

Elsewhere, short sellers have been piling on ICPT. A lofty 22.3% of the stock's float is sold short, which would take nearly eight sessions to cover, at its average daily trading volumes. Meanwhile, analysts are evenly divided -- with five currently sporting "strong buy" ratings, against another five that have handed out "hold" or worse assessments.

Suffice it to say, the bears on Wall Street may be on edge, given Intercept Pharmaceuticals Inc's (NASDAQ:ICPT) intraday gains -- which has it back in the black for 2016. However, it's easy to understand the skepticism when looking at the stock's long-term underperformance. Year-over-year, ICPT has plunged more than 42%.

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Drugmaker Valeant Pharmaceuticals Intl Inc (NYSE:VRX) is on the rebound this morning, last seen up 9.8% at $28.66, after the company announced that an ad hoc committee's review of Valeant's relation with Philidor is now complete. According to the report, the committee found no items that would require restatement, and VRX will file is 10-K form before the end of April. However, some option traders are betting this is a dead cat bounce.

The stock was headed lower in early pre-market trading, on news that VRX is cutting its sales force for female sexual dysfunction drug Addyi, as well as some dermatology products. VRX has been stair-stepping lower since last August's record high, under pressure from its descending 80-day moving average, with the most recent bear gap stemming from ugly guidance. In fact, VRX has shed 87% over the past nine months, and tapped a new five-year low of $25.27 on Monday. 

 

VRX options have garnered quite a bit of attention amid the company's fundamental flubs and the stock's subsequent volatility. Put open interest hit an annual high last Friday, and call open interest is in the 99th percentile of its annual range. Open puts and calls are neck and neck, with about 651,000 puts and 684,000 calls outstanding.

Today, VRX calls are slightly outpacing puts, but the most active position is the weekly 4/8 26-strike put. It appears a healthy portion of the puts may be bought to open -- indicating a fair number of traders expect VRX to resume its journey south this week, dipping back below the $26 level by Friday's close, when the weekly option expires.

Analysts haven't changed their outlooks much lately, with 65% maintaining "hold" or worse ratings. Short interest on Valeant Pharmaceuticals Intl Inc (NYSE:VRX) fell by more than 9% during the most recent one-month reporting period, and accounts for just 3.7% of the stock's available float.

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