Analyst Upgrades: GameStop, Heron Therapeutics, Infoblox

Analysts upwardly revised their ratings and price targets on GameStop Corp. (NYSE:GME), Heron Therapeutics Inc (NASDAQ:HRTX), and Infoblox Inc (NYSE:BLOX)

May 29, 2015 at 9:16 AM
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Analysts are weighing in today on video game retailer GameStop Corp. (NYSE:GME), biotech firm Heron Therapeutics Inc (NASDAQ:HRTX), and network services provider Infoblox Inc (NYSE:BLOX). Here's a quick roundup of today's bullish brokerage notes on GME, HRTX, and BLOX.

  • The company's first-quarter earnings beat and promising current-quarter forecast have GME gaining ahead of the open. The shares are pointed 6.8% higher, poised to add to their 21.1% year-to-date lead, after settling at $40.92 yesterday. On the Street, Wedbush and Ascendiant Capital each raised their price targets this morning, to $52 and $46, respectively. Most analysts are already bullishly aligned, with 11 of 15 calling GameStop Corp. a "buy" or better. Many traders have the opposite view. A stunning 44.8% of GME's float is sold short, which would take over two months to repurchase, at its average daily volumes.

  • HRTX is exploding in pre-market trading, set to add 38% -- and hit four-year highs -- after the company announced its nausea drug achieved positive top-line results in its Phase 3 study. JMP Securities has since weighed in, raising its price target to $25 from $23. The Street is already behind the stock, as all four covering brokerage firms rate it a "strong buy." Additionally, Heron Therapeutics Inc's average 12-month price target of $25.80 is more than double that of the stock's close yesterday at $12.35. The shares have earned the bullish feedback, though. HRTX has added almost 23% in 2015.

  • Strong fiscal third-quarter numbers have BLOX moving higher in electronic trading, last seen up 4%. The equity finished at $26.32 yesterday -- after hitting an annual high of $26.48 -- and has been stair-stepping higher for since mid-2014, adding over 28% year-over-year. Even with these gains, near-term option traders are more put-focused than normal. Infoblox Inc's Schaeffer's put/call open interest ratio (SOIR) stands at 0.53, only 2 percentage points from an annual high. 
 

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