Analyst Update: Aquinox Pharmaceuticals Inc, Etsy Inc, and Cheniere Energy, Inc.

Analysts adjusted their ratings on Aquinox Pharmaceuticals Inc (AQXP), Etsy Inc (ETSY), and Cheniere Energy, Inc. (LNG)

by Mark Fightmaster

Published on Oct 12, 2015 at 1:29 PM

Analysts are weighing in today on drugmaker Aquinox Pharmaceuticals Inc (NASDAQ:AQXP), online marketplace Etsy Inc (NASDAQ:ETSY), and natural gas concern Cheniere Energy, Inc. (NYSEMKT:LNG). Here's a quick roundup of today's brokerage notes on AQXP, ETSY, and LNG.

  • Unlike some larger pharmaceutical companies like Eli Lilly and Co (NYSE:LLY) and Merck & Co., Inc. (NYSE:MRK), AQXP is higher this afternoon -- along with Amgen, Inc. (NASDAQ:AMGN) and Regeneron Pharmaceuticals Inc (NASDAQ:REGN) --  after Cowen and Company raised the stock's price target to $24 from $14 with an "outperform" rating. The move comes in the wake of upbeat data on AXQP's experimental bladder pain drug, AQX-1125, and has helped the shares 12.4% higher to $14.50. Technically, AQXP has kicked sideways since gapping higher in the middle of August, though the stock has more than doubled on a year-over-year basis. Meanwhile, short sellers have stocked up on bearish bets against Aquinox Pharmaceuticals. Despite dropping by nearly 58% during the past two reporting periods, nearly 18% of the equity's float is sold short. Analysts check in on the other end of the sentiment spectrum, as four of the five tracking AQXP rate it a "strong buy." 

  • ETSY is 8.4% lower at $12.69, after Monness Crespi Hardt initiated coverage with a "sell" rating and a $10 price target -- which represents all-time-low territory. Shares of Etsy Inc have struggled mightily since their mid-April debut, shedding nearly two-thirds of their value since their IPO day high of $35.74. The road ahead doesn't look easy, either, as fellow online retailer Amazon.com, Inc. (NASDAQ:AMZN) recently announced that it would launch Handmade at Amazon. This announcement sent option bears flocking to ETSY, and short interest represents nearly five weeks of pent-up buying demand, at the stock's average pace of trading.
  • LNG received a price-target cut to $64 from $90 at Barclays (part of a group of moves it made on several energy names), sending the stock 3.9% lower to $50.97. Technically, shares of Cheniere Energy, Inc. have dropped roughly 28% in 2015, despite endorsements from activist investor Carl Icahn. It appears that bullish option players may have turned a blind eye to this performance, as LNG's 10-day call/put volume ratio on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits at 2.83 -- higher than 78% of the readings taken in the past year. Capitulation from this bullish bunch could put further downside pressure on the shares. 
For other stocks in analysts' crosshairs, read Analyst Upgrades: Tesla Motors Inc, Raytheon Company, and Exxon Mobil Corporation and Analyst Downgrades: FireEye Inc, Marvell Technology Group Ltd., and Merck & Co., Inc..

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