Analyst Update: SanDisk, Esperion, Jazz Pharma

Analysts adjusted their ratings on SanDisk Corporation (SNDK), Esperion Therapeutics Inc (ESPR), and Jazz Pharmaceuticals plc - Ordinary Shares (JAZZ)

Mar 27, 2015 at 11:33 AM
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Analysts are weighing in today on data solutions specialist SanDisk Corporation (NASDAQ:SNDK), as well as biopharmaceutical firms Esperion Therapeutics Inc (NASDAQ:ESPR) and Jazz Pharmaceuticals plc - Ordinary Shares (NASDAQ:JAZZ). Here's a quick look at today's brokerage notes on SNDK, ESPR, and JAZZ.

  • The fallout from yesterday's decreased revenue guidance is still affecting SNDK, as no fewer than eight brokerage firms reduced their opinion on the equity. Drilling down, the most dramatic cuts came from Wedbush and BMO -- to $56 and $61, respectively. After suffering its worst drop in five years yesterday, the shares of SanDisk Corporation are down 1.8% to hit $65.03 -- and earlier touched an annual low of $64.45 -- bringing the equity's year-to-date deficit to 33.7%. The brokerage bunch is still mostly bullish on SNDK, though, as 71% of covering analysts rate the stock a "buy" or better, with no "sell" or worse recommendations to be found. This leaves the door wide open for another round of negative analyst notes to pressure the shares even lower.

  • Citigroup started coverage on ESPR with a "buy" rating and a lofty $130 price target -- in uncharted territory -- sending the shares up 5.2% to hit $93.12. Digging deeper, the brokerage firm said ESPR's cholesterol-lowering drug is "an attractive asset for pharma to in-license or acquire." While Esperion Therapeutics Inc has dropped 21.7% from its March 19 record high of $118.95, the shares remain nearly 500% higher year-over-year. As such, the brokerage bunch is unanimously optimistic on the security, as all three covering analysts rate the stock a "buy" or better. Additionally, ESPR's average 12-month price target of $107.17 represents a 15% premium to current trading levels.

  • Citigroup also initiated JAZZ with a "buy" rating alongside a $195 price target -- in unexplored terrain. On the charts, Jazz Pharmaceuticals plc is up 2.1% at $177.09, bringing its year-to-date gain to 8.2%. In fact, JAZZ just tagged an all-time peak of $190.17 on March 19. Accordingly, sentiment in the options pits has been bullish, as JAZZ's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 2.70 stands in the 99th percentile of its annual range.
 

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