Analyst Update: Bio Blast Pharma Ltd, Centene Corporation, and Goldcorp Inc.

Analysts adjusted their ratings on Bio Blast Pharma Ltd (NASDAQ:ORPN), Centene Corp (NYSE:CNC), and Goldcorp Inc. (USA) (NYSE:GG)

by Karee Venema

Published on Jun 15, 2015 at 12:23 PM

Analysts are weighing in today on biopharmaceutical firm Bio Blast Pharma Ltd (NASDAQ:ORPN), healthcare concern Centene Corp (NYSE:CNC), and gold producer Goldcorp Inc. (USA) (NYSE:GG). Here's a quick roundup of today's brokerage notes on ORPN, CNC, and GG.

  • Drugmakers are in the bullish crosshairs of brokerage firms today. For ORPN, this meant a price-target hike to $25 from $18 at Roth Capital, which expressed confidence the company's Phase III trial of its experimental muscular dystrophy drug -- which began today -- will wrap up sooner rather than later. The new price target, which resides in never-before-seen territory, has shares of ORPN up 27% at $7.31 -- and back in the black on a year-to-date basis. Widening the scope reveals today's optimistic outlook just echoes the withstanding sentiment. Roughly 0.1% of Bio Blast Pharma Ltd's float is sold short, and both analysts covering the shares maintain a "strong buy" recommendation.

  • CNC has received a number of bullish brokerage notes since the firm boosted its full-year forecast last Thursday morning. In fact, over the weekend, no fewer than six analysts upwardly revised their price targets. Included in the bunch was Barclays, which raised its target price to $88 from $84, as well as Cantor and Leerink, which both boosted their respective price targets to $85. Against this backdrop, CNC is up 3.7% today at $78.18, and fresh off an all-time peak of $78.27. Additional upbeat analyst attention could have the shares adding to their 50% year-to-date gain. More than half of those covering Centene Corp maintain a lukewarm "hold" recommendation, while the average 12-month price target of $78.20 is in line with current trading levels.

  • RBC cut its outlook on GG to "sector perform" from "outperform" and its price target to $21 from $24 -- sending the shares to a new six-year low of $16.59 out of the gate. At last check, the stock was down 0.9% at $16.70, bringing its 2015 deficit to 9.8%. Option traders have been rolling the dice on a rebound, though, by buying to open calls over puts at an accelerated clip in recent weeks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Goldcorp Inc.'s 10-day call/put volume ratio of 9.05 sits just 7 percentage points from an annual high.

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