Analyst Update: Intra-Cellular Therapies, JetBlue, Expedia

Analysts adjusted their ratings on Intra-Cellular Therapies Inc (ITCI), JetBlue Airways Corporation (JBLU), and Expedia Inc (EXPE)

Sep 17, 2015 at 12:41 PM
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Analysts chimed in on biopharmaceutical firm Intra-Cellular Therapies Inc (NASDAQ:ITCI), air carrier JetBlue Airways Corporation (NASDAQ:JBLU), and online travel company Expedia Inc (NASDAQ:EXPE).  Here's a quick roundup of today's brokerage notes on ITCI, JBLU, and EXPE.

  • Yesterday, ITCI announced that its experimental lead drug met its main goaland analysts are tripping over each other to issue price-target adjustments today. No fewer than six brokerage firms upwardly revised their targets, including JMP Securities (to $63 from $53) and RBC (to $62 from $42), while Guggenheim issued the heftiest hike -- to $95 from $36. Today's ratings shifts plus yesterday's news sent the stock to a new all-time high of $56.17 earlier, with Intra-Cellular Therapies Inc last seen 13.6% higher at $55.44. The stock now boasts an impressive week-to-date lead of more than 110%.
  • JBLU is 1.8% higher at $27.14, and just notched a decade-plus high of $27.20, after Barclays made a trip through the airline sector, elevating JetBlue Airways Corporation's price target to $32 from $27. Despite the stock's ascension, JBLU put buyers remain active, as its 50-day put/call volume ratio on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 0.23 is higher than all but 13% of the readings taken in the past 52 weeks. A continued uptrend could cause the bears to jump ship -- and help push the stock higher.
  • EXPE touched a new all-time high of $130.61, and was last seen 4.4% higher at $130.10, after the company completed its purchase of Orbitz Worldwide Inc and started the integration process. In addition, Cantor Fitzgerald elevated Expedia Inc's price target to $140 from $130 and reiterated its "buy" rating, and Evercore ISI raised its target to $133 from $130. Today's jump could spook quite a few bears, as 11% of EXPE's float is sold short. It would take nearly eight days for bears to liquidate their pessimistic positions, at EXPE's average pace of trading, hinting at plenty of cash on the sidelines. Turning to options players, EXPE saw extremely heavy put activity last week, echoing its 50-day put/call volume ratio of 0.97 on the ISE/CBOE/PHLX -- higher than 74% of the readings taken in the past 52 weeks. Capitulation from this bearish bunch could add more positive momentum to the already-solid stock.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Tesla Motors Inc, NVIDIA Corporation, and Zumiez Inc. and Analyst Downgrades: Oracle Corporation, Wynn Resorts, Limited, and Halliburton Company.


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