Analyst Upgrades: Second Sight Medical Products, Inc., Vertex Pharmaceuticals Incorporated, and Harley-Davidson, Inc.

Analysts upwardly revised their ratings on Second Sight Medical Products Inc (NASDAQ:EYES), Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), and Harley-Davidson Inc (NYSE:HOG)

by Karee Venema

Published on Jul 6, 2015 at 9:41 AM

Analysts weighed in on medical device specialist Second Sight Medical Products Inc (NASDAQ:EYES), drugmaker Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), and motorcycle maven Harley-Davidson Inc (NYSE:HOG). Here's a quick roundup of today's bullish brokerage notes on EYES, VRTX, and HOG.

  • Rodman & Renshaw initiated coverage on EYES with a "buy" rating and a $21 price target -- representing expected upside of 47% to current levels. The stock was last seen 1.7% higher at $14.29. Second Sight Medical Products Inc had already put in a strong performance on the charts in 2015, up nearly 37% coming into today. Short sellers, however, have had their doubts. Short interest surged 10.1% in the latest reporting period, and now accounts for a lofty 16.9% of EYES' available float.

  • Analysts were quick to weigh in on VRTX, after the company's cystic fibrosis drug, Orkambi, received a regulatory win on Thursday. Chiming in on the stock was Baird, which boosted its price target to $160, as well as Leerink and William Blair, which raised their target prices to $158 -- with the latter expecting the treatment to pull in peak annual global sales of roughly $5.9 billion. Morgan Stanley, JMP Securities, and BTIG, however, all lowered their price targets. Heading into today, Vertex Pharmaceuticals Incorporated was up 10.5% on the year. More recently, the shares have been bouncing between $123 and $135 since late April, and were last seen 2.8% lower at $127.63. Short-term speculators have shown a preference for puts over calls, per VRTX's Schaeffer's put/call open interest ratio (SOIR) of 1.27, which rests in the 78th annual percentile.

  • Unlike the broader equities market, HOG is higher this morning, edging up 0.04% to $56.05, after a bullish write-up in Barron's over the weekend. "A return to peak motorcycle purchases could put earnings per share well over $6. Don’t count on that soon, but Wall Street predicts Harley will grind its way to over $5 in earnings by 2017. The lowest among nine estimates stands at $4.69. Using that, a 30% rise for shares over the next two years would close the stock’s discount to the S&P 500 by only about half." Generally speaking, the brokerage bunch is mixed toward a stock that's shed 15% year-to-date, and hit an annual low of $53.04 in mid-May. Eight analysts maintain a "buy" or better rating, while eight maintain a lukewarm "hold" recommendation. Meanwhile, the average 12-month price target of $65.15 stands at a 16.2% premium to current levels. 
Get the skinny on all the biggest stories of the morning… Sign up now to get Schaeffer's Midday Market Check delivered straight to your inbox!

A Schaeffer's exclusive

TOP STOCK PICKS 2020

Access your FREE insider report 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


IRA/401k: The Crash-Proof Retirement Plan
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.
Stocks Eye Notable Weekly Gains on 3-Day Surge
Stocks are eyeing big weekly gains
WW Stock Brushes Off Bull Note
Morgan Stanley upgraded the Weight Watchers parent to "overweight" from "equal weight"
IRA/401k: The Crash-Proof Retirement Plan
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.