Analyst Update: Mylan, Pacira Pharma, Facebook

Analysts adjusted their ratings on Mylan Inc (MYL), Pacira Pharmaceuticals Inc (PCRX), and Facebook Inc (FB)

Mar 3, 2015 at 11:22 AM
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Analysts are weighing in today on pharmaceutical firms Mylan Inc (NASDAQ:MYL) and Pacira Pharmaceuticals Inc (NASDAQ:PCRX), as well as social-media titan Facebook Inc (NASDAQ:FB). Here's a quick look at today's brokerage notes on MYL, PCRX, and FB.

  • Last night, MYL reported lackluster fourth-quarter revenue, issued full-year guidance, and revealed it could be searching for additional takeover targets, prompting J.P. Morgan Securities and RBC to raise their price targets on the equity. Specifically, J.P. Morgan Securities upped its price target to $66 from $60 while underscoring an "overweight" rating, while RBC lifted its price target to $60 from $56 while reiterating a "sector perform" opinion. At last check, the shares of Mylan Inc were down 2.9% to hit $56.19, putting the stock 0.3% in the red for 2015. Sentiment in the options pits is pessimistic, as MYL's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.30 sits in the 71st percentile of all similar readings taken over the past year.

  • Four brokerage firms slashed their price targets on PCRX, following yesterday's news that the firm's application to expand the use of one of its pain drugs was denied by the U.S. Food and Drug Administration (FDA). Drilling down, the most dramatic cut came from Canaccord Genuity, which lowered its price target to $128 from $163 while reiterating a "buy" opinion. Today, Pacira Pharmaceuticals Inc is down 2.4% to hit $90.10, adding to yesterday's 19.6% tumble. The security is still up 1.3% year-to-date, though, as it was exploring record highs just last week. Bearish sentiment is popular in the options pits, as PCRX's 50-day ISE/CBOE/PHLX put/call volume ratio of 0.47 sits in the 88th percentile of its annual range.

  • Jyske Bank initiated coverage on FB today with a $93 price target -- in uncharted territory for the shares -- and a "buy" rating. Despite the positive brokerage attention, the shares of Facebook Inc are down about 1.2% today to hit $78.82. Looking back, FB is over 14.5% higher year-over-year. However, short-term puts are more popular than usual, as FB's Schaeffer's put/call open interest ratio (SOIR) of 0.69 sits in the 67th percentile of its annual range. Simply stated, options traders have preferred near-term puts over calls by a bigger-than-usual margin.

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