Analyst Update: GoPro, Keurig, Rockwell Medical Inc

Analysts adjusted their ratings on GoPro Inc (GPRO), Keurig Green Mountain Inc (GMCR), and Rockwell Medical Inc (RMTI)

Aug 13, 2015 at 1:06 PM
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Analysts are weighing in today on wearable camera pioneer GoPro Inc (NASDAQ:GPRO), coffeemaker Keurig Green Mountain Inc (NASDAQ:GMCR), and biopharmaceutical company Rockwell Medical Inc (NASDAQ:RMTI). Here's a quick roundup of today's brokerage notes on GPRO, GMCR, and RMTI.

  • GPRO is more than 5% higher at $59.94, after Cowen and Company initiated coverage on the camera company at "outperform" with a $76 price target. The brokerage stated, "We believe GoPro is a category creator, now expanding from a core of action cam/sports enthusiasts to a larger consumer lifestyle capture market," adding that, "Rapid growth and operating margin expansion should support near-term stock performance." As noted yesterday, GoPro Inc has seen some bearish short-term sentiment in the options pits, but has put in a strong showing on the charts longer term. With more than 15% of GPRO's float sold short, a capitulation from some of the weaker bearish hands could usher the shares higher.
  • GMCR is more than 5% lower this afternoon, trading at $50.09 -- and is fresh off an annual low of $49.13 -- after Roth cut its price target on the coffeemaker to $58 with a "neutral" rating. In fact, Keurig Green Mountain Inc is the top loser thus far on the Nasdaq-100 Index (NDX), continuing what has been a rather rough week for the company. While the stock continues on the descending pattern started back in November, options players have been bullishly aligned toward GMCR. Specifically, shares of the specialty coffee company have shed 68.5% since hitting an record high of $158.87 on Nov. 18, but the firm's Schaeffer's put/call open interest ratio (SOIR) of 0.76 is lower than 81% of similar readings taken in the past year. The danger for GMCR is that this bullish sentiment could unwind and amplify the stock's rough stretch.

  • RMTI is 7.9% lower at $12.65, after Morgan Stanley initiated coverage of the biopharmaceutical company at "underweight" with a price target of $7. The brokerage stated that Rockwell Medical Inc's iron drug, Triferic, is likely to have an "anemic" launch, and sees a need for dialysis clinics to hold a 12-18 month test period of the treatment. Technically, the drugmaker has fallen back to support from its 10-month moving average. This trendline has provided support for most of 2015, and looks like it should do the same this time. Nevertheless, the equity's technical performance has been uninspiring of late, off 33% from its July 17 all-time high of $18.90. Against this backdrop, short sellers have been cashing in their chips, with short interest down 10.4% in the most recent reporting period. However, there's still a lofty 20% of RMTI's float sold short, or 11.1 times the average daily trading volume.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Microsoft Corporation, Solaredge Technologies, and Cisco Systems, Inc. and Analyst Downgrades: Alibaba Holding Group Ltd, Keryx Biopharmaceuticals, and Transocean Ltd.

 

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