Analyst Update: Apple Inc., LinkedIn, and XOMA

Analysts adjusted their ratings on Apple Inc. (AAPL), LinkedIn Corp (LNKD), and XOMA Corp (XOMA)

Oct 2, 2015 at 12:15 PM
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Analysts are weighing in today on Dow component Apple Inc. (NASDAQ:AAPL), professional social media network LinkedIn Corp (NYSE:LNKD), and drug developer XOMA Corp (NASDAQ:XOMA). Here's a quick roundup of today's brokerage notes on AAPL, LNKD, and XOMA.

  • Yesterday, AAPL was in the news after an unconfirmed rumor surfaced about lowered supply demands. Today, Apple Inc. is 1% lower at $108.45, even though Drexel Hamilton started coverage with a "buy" rating and a price target of $200. The brokerage noted that the stock's sharp summer correction "represents an attractive entry point." The positive analyst note is typical, as the Dow component has garnered 18 "strong buy" ratings and three "buys," compared to 11 "holds" and not a single "sell" recommendation. Given the fact the shares are in negative year-to-date territory, future downgrades are a possibility. Option bears seem to be buying into AAPL's recent weakness, as its 10-day put/call volume ratio on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) checks in at a 52-week high of 0.84.

  • LNKD is 2.3% lower at $184.93 this afternoon, after Wedbush started coverage last night with a "neutral" rating and a price target of $200. The brokerage was quite busy yesterday, in fact, chiming in on social media peers Facebook Inc (NASDAQ:FB) and Twitter Inc (NYSE:TWTR). Technically, shares of LinkedIn Corp have struggled after hitting an all-time high of $276.18 in February, dropping 33% to today's perch. Option players have taken note, as LNKD's 10-day put/call volume ratio on the ISE, CBOE, and PHLX of 1.14 is higher than 92% of the readings taken during the past 52 weeks. Analysts fall firmly on the other side of the sentiment spectrum, as the social media firm currently boasts 17 "strong buy" ratings and three "buys," versus six "holds" and not one "sell." Downgrades from this bullish bunch could lead to further downside.
  • XOMA enjoyed a rather nice day yesterday thanks to a new licensing deal with Novartis AG (ADR) (NYSE:NVS). However, the stock has reversed 3.7% lower today at $1.04, after Webush slashed its price target on XOMA Corp to $6 from $11 late on Thursday. Year-to-date, the equity's deficit is around 70%. Short sellers have bought into XOMA's technical troubles, as 29% of its float is sold short. At typical trading volumes, it would take over three weeks to cover these bearish bets.  
For other stocks in analysts' crosshairs, read Analyst Upgrades: Facebook Inc, Twitter Inc, and BioMarin Pharmaceutical Inc. and Analyst Downgrades: Dunkin Brands Group Inc, Gilead Sciences, Inc., and Progress Software Corporation.

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