Analyst Update: Facebook, BioDelivery, TrueCar

Analysts adjusted their ratings on Facebook Inc (FB), BioDelivery Sciences International, Inc. (BDSI), and TrueCar Inc (TRUE)

Apr 2, 2015 at 11:28 AM
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    Analysts are weighing in today on social media titan Facebook Inc (NASDAQ:FB), pharmaceutical firm BioDelivery Sciences International, Inc. (NASDAQ:BDSI), and online analytics platform TrueCar Inc (NASDAQ:TRUE). Here's a quick look at today's brokerage notes on FB, BDSI, and TRUE.

    • Citigroup raised its price target on FB by $6 to $97 -- in uncharted territory -- while reiterating its "buy" rating, sending the shares 0.6% higher today to hit $82.16. Looking back, Facebook Inc has been a long-term technical outperformer, with the shares up 38.1% year-over-year. What's more, the equity notched a fresh all-time high of $86.07 on March 24. Accordingly, call activity has been prominent in the options pits, as FB's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 2.43 ranks in the 64th percentile of its annual range. The bullish bandwagon isn't completely crowded yet, though, as short interest on FB rose by 15% in the most recent reporting period.

    • BDSI is 2.3% higher today, after FBR initiated coverage on the equity with an "outperform" rating and a $19 price target -- representing a lofty 83.8% premium to the shares' current perch at $10.34. The shares of BioDelivery Sciences International, Inc. have taken a dive recently, down 44% from their Sept. 12 all-time high of $18.48 -- most of which came from a data-related bear gap on March 30. Despite this downward action, sentiment in the options pits has been bullish, as BDSI's 10-day ISE/CBOE/PHLX call/put volume ratio of 22.60 ranks higher than 90% of all equivalent readings of the past year. Meanwhile, over 13% of the stock's available float is sold short, which would take about two weeks to cover, at average trading volumes.

    • B. Riley initiated coverage on TRUE with a "sell" opinion and a $10 price target, sending the shares down 6.1% to hit $15.96. The dismal outlook comes as little surprise, considering the shares of TrueCar Inc are down 30.3% year-to-date. However, calls are still popular in the options pits -- over the past 10 days at the ISE/CBOE/PHLX, 9.82 calls have been bought to open for every put. Looking elsewhere, the brokerage bunch is optimistic on the stock as well, as four out of five covering analysts rate the stock a "buy" or better.

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