Analyst Upgrades: Box, Inc., PlasmaTech Biopharmaceuticals, Inc., and Rite Aid Corporation

Analysts upwardly revised their ratings and price targets on Box Inc (NYSE:BOX), Plasmatech Biopharmaceuticals Inc (NASDAQ:PTBI), and Rite Aid Corporation (NYSE:RAD)

by Josh Selway

Published on Jun 11, 2015 at 9:23 AM

Analysts are weighing in today on cloud concern Box Inc (NYSE:BOX), drugmaker Plasmatech Biopharmaceuticals Inc (NASDAQ:PTBI), and pharmacy chain Rite Aid Corporation (NYSE:RAD). Here's a quick roundup of today's bullish brokerage notes on BOX, PTBI, and RAD.

  • BOX is exploding ahead of the open, as the company reported stronger-than-expected first-quarter numbers and raised its full-year forecast, after adding 2,000-plus subscribers during the quarter. Canaccord Genuity has since raised its price target to $21 from $20, and the shares are 12.9% higher in pre-market action. After settling at $17.79 yesterday, Box Inc is now set to open above $20 -- reaching its highest level since late March -- and short sellers are likely sweating. Nearly 10% of the stock's float is sold short, representing close to 12 days of buying power, at its normal trading pace. Analysts, too, have skeptical outlooks. Every single brokerage firm with coverage on BOX says it's a "hold."

  • PTBI is positioned 12.3% higher in electronic trading, thanks to Roth Capital, which started the stock with a "buy" rating and $16 price target. The shares are accustomed to huge jumps, as they've more than doubled since early May. Plasmatech Biopharmaceuticals Inc was last seen at $7.07, and even with these recent gains, it's still far removed from its annual high of $17.50, touched exactly one year ago. Roth Capital expects a return to double-digit levels -- and it's not the only one. PTBI's average 12-month price target comes in at $15.

  • During the past few months, RAD has been coming on strong, nearly doubling since its annual low of $4.42 in mid-October to close at $8.64 yesterday. The shares aren't slowing down yet. They're set to open 2.8% higher, after Credit Suisse reinstated coverage with an "outperform" rating. More bullish analyst attention may be on the way for Rite Aid Corporation, as it's nearing its multi-year high of $9.07 from early April. Interestingly, more and more traders have been shorting the stock, with short interest increasing over 12% during the most recent two-week reporting period. If RAD continues to rally and these bears make a quick exit, it could provide more fuel for its fire.

A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Legendary Stock-Picker Calls Top Stock of 2020
Matt McCall's picks were met with disbelief... Until five soared over 1,000%. Get his latest 2020 pick.
Patent Lawsuit Loss Sends AMRN Stock Spiraling
Amarin just lost a major U.S. patent lawsuit for its heart drug Vascepa
RH Stock Sinks Despite Earnings Beat
J.P. Morgan Securities and Cowen and Company cut their price targets
The Latest Investor's Guide to Precious Metals
Learn how to protect savings and maximize returns by investing in precious metals.