Analyst Update: Radius Health, Inc., Juno Therapeutics, Inc., and Nevro Corp.

Analysts adjusted their ratings on Radius Health Inc (NASDAQ:RDUS), Juno Therapeutics Inc (NASDAQ:JUNO), and Nevro Corp (NYSE:NVRO)

by Karee Venema

Published on Jun 18, 2015 at 2:06 PM

Analysts are weighing in on biopharmaceutical firms Radius Health Inc (NASDAQ:RDUS) and Juno Therapeutics Inc (NASDAQ:JUNO), as well as chronic pain specialist Nevro Corp (NYSE:NVRO). Here's a quick roundup of today's brokerage notes on RDUS, JUNO, and NVRO.

  • RDUS, along with sector peer BMRN, is surging today in the wake of upbeat drug news -- moves CNBC's Jim Cramer says both stocks "deserve." Specifically, RDUS hit a record high of $63.52 earlier -- and was last seen up 17.2% at $60.63 -- after the company said late-stage study results of its osteoporosis drug were promising. Additionally, Cantor Fitzgerald boosted its price target on the shares to $71 from $58, saying the treatment has "meaningful" opportunity. Year-to-date, Radius Health Inc is now boasting a 56% lead, and short sellers could soon be ready to jump ship. A healthy 6% of the stock's float is sold short, which would take more than four sessions to cover, at average daily trading levels.

  • Maxim Group initiated coverage on JUNO with a "buy" rating and a $78 price target -- representing expected upside of 49.3% to the stock's current perch at $52.25, and a move into uncharted territory. The brokerage firm cited its belief that "Juno is best equipped for success against solid tumors," and could see approval for its experimental cancer treatments by 2017. The security initially jumped more than 5%, but was more recently seen up 1.5% at $52.12 -- docked just beneath its year-to-date breakeven mark. Option traders, meanwhile, have shown a preference for long calls over puts in recent months. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have bought to open 1.89 calls for every put over the past 50 sessions.

  • NVRO has rallied 6.8% to trade at $53.66, after J.P. Morgan Securities raised its price target on the shares to $67 from $54. Not only does this new target price sit nearly 25% above current trading levels, but it also represents a move to all-time highs. Since going public in early November, the security has more than doubled in value -- and hit a record peak of $58.87 on May 11. However, sentiment is mixed. For starters, each of the analysts covering Nevro Corp maintain a "buy" or better rating. Elsewhere, short interest surged 15.7% in the last reporting period, and now accounts for 8.5% of the equity's available float.

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