Analyst Update: Chipotle, BioMarin Pharma, Expedia

Analysts adjusted their ratings on Chipotle Mexican Grill, Inc. (NYSE:CMG), BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), and Expedia Inc (NASDAQ:EXPE)

May 1, 2015 at 1:14 PM
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Analysts are weighing in today on fast-casual restaurant chain Chipotle Mexican Grill, Inc. (NYSE:CMG), biotech concern BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), and travel website Expedia Inc (NASDAQ:EXPE). Here's a quick look at today's brokerage notes on CMG, BMRN, and EXPE. 

  • The shares of CMG are 1.6% higher at $631.26, after BMO raised its rating on the stock to "outperform" from "market perform." Adding fuel to the fire, CNBC's Jim Cramer also waxed optimistic on CMG. After nearly grazing $700 last week, Chipotle Mexican Grill, Inc. gapped lower on an earnings miss, and touched a seven-month low just yesterday. However, near-term options traders have been more call-skewed than usual, as CMG's Schaeffer's put/call open interest ratio (SOIR) of 0.88 is lower than 96% of all equivalent readings from the past year. Elsewhere, short interest surged by 27.7% over the past two reporting periods, but accounts for just 3.6% of CMG's available float.
  • BMRN reported a slimmer-than-expected first-quarter loss, and offered well-received guidance, sending the shares 2.2% higher to $114.50. Reacting were J.P. Morgan Securities and William Blair, which raised their price targets to $125 and $126, respectively. What's more, both brokerage firms reaffirmed their "outperform" or equivalent ratings. In addition, Cramer weighed in on the biotech sector, and said BMRN is one of the stocks he likes "very much," as it has an "excellent" product portfolio. On the charts, the shares of BioMarin Pharmaceutical Inc. have retracted 14.3% from their March 27 all-time high of $133.54, and more recently dropped beneath their 40-day moving average, which has served as support since last June. Accordingly, puts have been prominent in the options pits, as BMRN's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.40 stands in the 75th percentile of its annual range. 
  • The shares of EXPE are 7.4% higher at $101.19 -- and earlier touched a record high of $102.69 -- after the company posted impressive first-quarter revenue. In response, no fewer than 10 brokerage firms upwardly revised their price targets on the security. Drilling down, the most ambitious hikes came from RBC (to $120) -- which also upgraded the stock to "outperform" -- and Ascendiant Capital (to $113). Looking back, Expedia Inc has been a long-term outperformer, with the shares up 42.5% year-over-year. However, short-term traders have been more put-heavy than usual, as Expedia Inc's SOIR of 1.21 is higher than 92% of all similar readings from the past 12 months. 
 

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