Analyst Downgrades: Citrix Systems, Inc., AngioDynamics, Inc., and The Medicines Company

Analysts downwardly revised their ratings on Citrix Systems, Inc. (CTXS), AngioDynamics, Inc. (ANGO), and The Medicines Company (MDCO)

by Josh Selway

Published on Apr 10, 2015 at 9:45 AM
Updated on Apr 20, 2015 at 5:10 PM

Analysts are weighing in today on cloud computing concern Citrix Systems, Inc. (NASDAQ:CTXS), medical device issue AngioDynamics, Inc. (NASDAQ:ANGO), and pharmaceutical firm The Medicines Company (NASDAQ:MDCO). Here's a quick roundup of today's bearish brokerage notes on CTXS, ANGO, and MDCO.

  • CTXS was one of several software companies Barclays weighed in on overnight. The stock saw its price target lowered by $2 to $68 at the brokerage firm, after the company cut its first-quarter profit and sales forecasts. Likewise, William Blair downgraded the stock to "market perform" from "outperform," and Mizuho cut its price target to $70 from $75. Citrix Systems, Inc. held a slight year-to-date gain coming into today, but has given all that back, last seen 5.5% lower at $61.11. Most analysts have been skeptical of the stock. Of the 20 brokerage firms tracking the shares, 11 deem CTXS a "hold" or worse, compared to nine "buy" or better opinions.

  • Canaccord Genuity cut its price-target on ANGO to $20 from $22, after the company reported an earnings loss for the fiscal third quarter and lowered its full-year guidance. Also piling on the bearish bandwagon are Craig-Hallum and Raymond James, which reduced their respective price targets to $24 (from $26) and $20 (from $21). The shares were 9.6% lower at $16.50 at last check. Looking back, the security has underperformed the S&P 500 Index (SPX) by nearly 7 percentage points over the past three months. Short interest is elevated on AngioDynamics, Inc., with 6.7% of the stock's float sold short. It would take these bearish traders almost seven days to buy back the shares, assuming average daily volumes.

  • MDCO is looking at a similar start to the day, with shares last seen 3.9% lower at $26.73, after the company's lower-than-expected preliminary first-quarter results were met with a round of negative analyst attention. For instance, Jefferies and RBC each cut their price targets by $1, to $26 and $37, respectively, and Mizuho lowered its price target to $27.50 from $30. In the options pits, traders have been placing bearish bets over bullish by a considerable margin. During the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have bought to open 8.42 puts for every call. With today's decline, The Medicines Company is now in the red on a year-to-date basis.

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