Buzz Stocks: Dyax, Chesapeake Energy, GoDaddy

Today's stocks to watch in the news include Dyax Corp. (DYAX), Chesapeake Energy Corporation (CHK), and Godaddy Inc (GDDY)

by Karee Venema

Published on Apr 1, 2015 at 9:18 AM
Updated on Jun 29, 2020 at 11:48 AM

U.S. benchmarks are looking to start the second quarter on a sour note, as this week's glut of jobs data begins to pour in. Among specific equities in focus are biopharmaceutical firm Dyax Corp. (NASDAQ:DYAX), oil-and-gas issue Chesapeake Energy Corporation (NYSE:CHK), and Big Board newcomer Godaddy Inc (NYSE:GDDY).

  • DYAX is up 49% in electronic trading -- and poised to hit a fresh 14-year high -- after the firm posted upbeat early stage trial results for its experimental drug, DX-2930, used to treat a rare inflammatory disease called hereditary angioedema. What's more, the news was met with a round of price-target hikes, including one from Wedbush, which nearly doubled its target price to $35 from $18. Elsewhere, Cowen and Company raised its price target to $30 from $17.50, saying it expects the drug to move right to a late-stage trial, and projected a 2018 market launch and sales of $650 million by 2021. Heading into today's session, Dyax Corp. was already sporting an impressive 19% year-to-date lead, and closed last night at $16.75. Meanwhile, in the options pits, short-term speculators are more put-heavy now than they've been at any point over the past year. Specifically, DYAX's Schaeffer's put/call open interest ratio (SOIR) of 1.09 rests at annual high.

  • CHK is trading 2% higher ahead of the bell, following reports that company Chairman Archie W. Dunham purchased 1 million shares of the stock on March 27 at $13.89 apiece, representing a 1.3% discount to Tuesday's settlement at $14.16. This news comes on the heels of last week's revelation that Carl Icahn has taken a glass-half-full approach to the equity, as well. Technically speaking, it's been a rough ride for CHK, which has surrendered nearly 43% of its value over the past 52 weeks. Against this backdrop, sentiment around the Street is skewed toward the skeptical side. Roughly 79% of analysts maintain a "hold" or worse recommendation toward Chesapeake Energy Corporation, while 17% of the security's float is sold short.

  • Coming off a slow quarter of initial public offerings, web domain provider GDDY will begin trading on the New York Stock Exchange (NYSE) this morning. The company priced its IPO at $20 per share -- raising $460 million -- more than the previously expected range of $17 to $19 per share. Meanwhile, although Godaddy Inc hasn't produced a profit in roughly six years, it is currently valued at around $3 billion.

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