Analyst Update: Amarin Corporation plc, AstraZeneca PLC, and Peabody Energy Corporation

Analysts adjusted their ratings on Amarin Corporation plc (ADR) (AMRN), AstraZeneca plc (ADR) (AZN), and Peabody Energy Corporation (BTU)

by Griffin Kruse

Published on Mar 12, 2015 at 11:41 AM
Updated on Apr 20, 2015 at 5:32 PM

Analysts are weighing in today on biopharmaceutical firms Amarin Corporation plc (ADR) NASDAQ:AMRN) and AstraZeneca plc (ADR) (NYSE:AZN), as well as coal producer Peabody Energy Corporation (NYSE:BTU). Here's a quick look at today's brokerage notes on AMRN, AZN, and BTU.

  • The shares of AMRN are up 30.1% at an annual high of $2.54, after Wainwright & Co quadrupled its price target to $10, and upgraded the stock to "buy." Year-to-date, Amarin Corporation plc is up a staggering 158.2%. Accordingly, calls are popular in the options pits, as AMRN's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 39.06 sits in the 74th percentile of its annual range. Meanwhile, short interest accounts for 17% of the stock's available float, which would take over six sessions to cover, at average trading volumes.

  • AZN is also enjoying a boost this morning, with the shares up 3.9% to reach $66.98, as traders wax optimistic ahead of clinical trial results for heart drug Brilinta this weekend. Meanwhile, Leerink cut its price target on the equity to $74 from $77 while reiterating a "market perform" rating. On the charts, AstraZeneca plc has seen better days, with the equity down 4.8% year-to-date. However, call activity is prevalent in the options pits, as AZN's Schaeffer's put/call open interest ratio (SOIR) of 0.36 sits in the 9th percentile of its annual range. Simply stated, near-term traders are more call-skewed than normal.

  • BofA-Merrill Lynch cut its price target on BTU to $5 from $7, while simultaneously downgrading its rating to "underperform" from "neutral," citing decreased coal price estimates. Today, the shares of Peabody Energy Corporation are down 4.5% to hit $5.85 -- and earlier touched a decade-plus low of $5.82 -- contributing to a 24.5% year-to-date loss. However, the brokerage bunch hasn't given up hope on the struggling equity yet. Drilling down, seven out of seventeen covering analysts rate the stock a "buy" or better, with only one "strong sell" recommendation to be found. What's more, BTU's consensus 12-month price target of $9.50 sits at a 62.7% premium to current trading levels, leaving the door wide open for a round of bearish brokerage attention to pressure the shares lower.

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