Analyst Upgrades: GoPro, Akamai Technologies, Biodel

Analysts upwardly revised their ratings on GoPro Inc (GPRO), Akamai Technologies, Inc. (AKAM), and Biodel Inc (BIOD)

May 18, 2015 at 9:06 AM
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Analysts are weighing in today on wearable camera maker GoPro Inc (NASDAQ:GPRO), cloud concern Akamai Technologies, Inc. (NASDAQ:AKAM), and pharmaceutical issue Biodel Inc (NASDAQ:BIOD). Here's a quick roundup of today's bullish brokerage notes on GPRO, AKAM, and BIOD.

  • GPRO is sitting slightly higher in electronic trading, after Oppenheimer boosted its rating on the stock to "perform" from "underperform." The shares have been trending higher in recent weeks -- assisted by an earnings beat and support from their 20-day moving average -- rallying 35% since hitting an early March low of $37.13, to settle at $50.09 on Friday. Should this trend continue, GoPro Inc could benefit from short-covering activity, as 39% of the stock's float is sold short.

  • AKAM saw its price target raised to $53 from $51 at Goldman Sachs. Although the new target still represents a discount to AKAM's current price of $77.96, the boost is well-deserved, considering the equity has advanced more than 46% year-over-year and notched a 14-year high of $78.44 on Thursday. On the options front, short-term speculators have never been as call-focused during the past year as they are now. Akamai Technologies, Inc. sports a Schaeffer's put/call open interest ratio (SOIR) of 0.46, which ranks lower than any other comparable reading taken in the last 12 months.

  • Roth initiated coverage on BIOD with a "buy" rating and $5 price target -- more than four times the stock's current perch at $1.13. As such, the shares are up more than 10% ahead of the bell. Longer term, however, Biodel Inc is down 15% in 2015. With the shares sitting in low single digits, BIOD's SOIR sits at an annual low of 0.02, indicating call open interest outweighs put open interest by an extreme margin, looking back at the last 12 months' of data.

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