Analyst Update: 3D Systems, Gilead Sciences, Halozyme

Analysts adjusted their ratings on 3D Systems Corporation (DDD), Gilead Sciences, Inc. (GILD), and Halozyme Therapeutics, Inc. (HALO).

Jul 9, 2015 at 2:02 PM
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Analysts are weighing in today on 3-D printing pioneer 3D Systems Corporation (NYSE:DDD), as well as biotechs Gilead Sciences, Inc. (NASDAQ:GILD) and Halozyme Therapeutics, Inc. (NASDAQ:HALO).  Here's a quick look at today's brokerage notes on DDD, GILD, and HALO.

  • This morning, Piper Jaffray announced that it dropped its price target on DDD to $16 from $18 and that it issued an "underweight" rating on the firm. The analysts also stated that, while they expect the industry to bounce back in 2016, DDD "will continue to struggle given execution issues, product quality concerns, channel headwinds, and overly aggressive consensus forecasts." DDD is more than 6.8% lower at $16.41, and just off a three-year low of $16.35, bucking the broad-market rally. DDD continues to have an impressive amount of its float sold short, something that caught our eye last week. Analysts agree with this bearish sentiment, as 15 of the 18 analysts tracking 3D Systems Corporation rate it a "hold" or worse. 
  • GILD is 0.8% higher at $113.89, as biotechs rally and thanks to UBS upping its price target from $125 to $133 -- in uncharted territory. The brokerage also underscored a "buy" rating on Gilead Sciences, Inc. Technically, GILD is a solid performer, but has pulled back since hitting an all-time high in late June. This technical slide may have caught the eyes of options players last week, as puts were bought to open at a faster clip than calls. This bearish action is belied by analysts, as 14 of the 16 tracking GILD rate it a "buy" or better. 
  • HALO saw its price target lifted to $28 from $21 -- in record-high territory -- at UBS today. Thanks to today's news and a sector rally, Halozyme Therapeutics, Inc. is nearly 7% higher at $22.81. Technically speaking, HALO has more than doubled in 2015. While the biotech is sparsely covered by analysts, there is a good chance for a short-covering rally, as more than 16% of its float is sold short. Should today's news spook the shorts, it would take eight days for the bears to cover their shorted shares, at HALO's average pace of trading.
 

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