Analyst Update: Calithera, Chesapeake Energy, Cyberark

Analysts adjusted their ratings on Calithera Biosciences Inc (CALA), Chesapeake Energy Corporation (CHK), and Cyberark Software Ltd (CYBR)

Jul 21, 2015 at 1:38 PM
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Analysts are weighing in today on drugmaker Calithera Biosciences Inc (NASDAQ:CALA), oil-and-gas name Chesapeake Energy Corporation (NYSE:CHK), and data defender Cyberark Software Ltd (NASDAQ:CYBR). Here's a quick roundup of today's brokerage notes on CALA, CHK, and CYBR. 

  • CALA is exploding following an upgrade to "hold" from "sell" at Zacks. At last check, the shares were up nearly 20% at $9.36 -- though they've still lost more than half of their value in 2015. Looking more closely, the stock is poised to close atop its 50-day moving average for the first time since April 20 -- a trendline that rejected several previous rally attempts. Given Calithera Biosciences Inc's long-term technical troubles, it should come as little surprise that short sellers have been piling on. During the last two reporting periods, short interest soared 60%, and now makes up over one-fifth of CALA's total float.

  • CHK riled shareholders today, announcing it will suspend dividend payments this quarter to save money, as the company struggles to cope with oil's collapse. Adding insult to injury, Global Hunter Securities slashed its price target on CHK shares to $7 from $10. Consequently, Chesapeake Energy Corporation is sitting on an afternoon deficit of 6.7% at $9.58, and earlier touched a six-year low of $9.40. Option buyers are rolling the dice on even more downside. During the last two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASAQ OMX PHLX (PHLX), CHK has racked up a put/call volume ratio of 2.49 -- just 4 percentage points from a 52-week peak. Echoing this, the stock's Schaeffer's put/call open interest ratio (SOIR) of 2.17 rests in the put-skewed 96th annual percentile.

  • CYBR has risen 4.6% to trade at $57.51, thanks to a "buy" initiation and $70 price target at Dougherty & Company. The stock is one of several outperforming cybersecurity names, rallying 45% year-to-date. If this trend continues, CYBR could garner more positive analyst attention. At present, two-thirds of covering brokerage firms rate Cyberark Software Ltd a "hold" or worse, and its consensus 12-month price target of $60.80 is just a chip-shot away from its current perch on the charts.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Facebook Inc, AlarmCom Hldg Inc, and Anacor Pharmaceuticals Inc and Analyst Downgrades: Tesla Motors Inc, International Business Machines Corp., and United Natural Foods, Inc.

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