Analyst Update: Potash Corp, Conatus Pharma, Horizon Pharma

Analysts adjusted their ratings on Potash Corp./Saskatchewan (USA) (POT), Conatus Pharmaceuticals Inc (CNAT), and Horizon Pharma PLC (HZNP)

Sep 22, 2015 at 12:59 PM
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Analysts chimed in on fertilizer producer Potash Corp./Saskatchewan (USA) (NYSE:POT), as well as biotechnology concerns Conatus Pharmaceuticals Inc (NASDAQ:CNAT) and Horizon Pharma PLC (NASDAQ:HZNP).  Here's a quick roundup of today's brokerage notes on POT, CNAT, and HZNP.

  • CNAT is 9.2% higher at $4.74, bucking the broad-market trend, after H.C. Wainwright started the stock with a "buy" rating and a $15 price target -- more than three times the stock's current price. The brokerage firm attributed the upbeat opinion to the prospects for emricasan, CNAT's liver drug. On Aug. 26, shares of Conatus Pharmaceuticals Inc hit a record low of $3.44, but have bounced back, adding roughly 21% in September alone. What's more, today's rally has the stock trading above its 80-day moving average for the first time since June. 
  • Finally, HZNP is headed in the opposite direction of its sector mate CNAT, dropping 12.5% to $25.38. Horizon Pharma PLC dropped after Brean cut the equity to "hold" from "buy," citing "unsettling" developments -- including the belief that a Depomed (NASDAQ:DEPO) deal won't happen. Despite today's drop, HZNP has almost doubled in 2015, but is in danger of breaching its 200-day moving average for the first time this year. Should the stock continue to fall, there could be some pressure from downgrades, as all seven of the brokerages rating HZNP feel it worthy of a "buy" or better.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Halozyme Therapeutics, Inc., Nike Inc, and EMC Corporation and Analyst Downgrades: Red Hat Inc, Caterpillar Inc., and Mosaic Co
 

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