Analyst Update: Aquinox Pharma, Etsy, Cheniere Energy

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

Oct 12, 2015 at 1:29 PM
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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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