Analyst Downgrades: GoPro Inc, Gap Inc, and Orexigen Therapeutics, Inc.

Analysts downwardly revised their ratings on GoPro Inc (GPRO), Gap Inc (GPS), and Orexigen Therapeutics, Inc. (OREX)

Dec 4, 2015 at 9:28 AM
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Analysts are weighing in on wearable camera maker GoPro Inc (NASDAQ:GPRO), retail chain Gap Inc (NYSE:GPS), and biopharmaceutical firm Orexigen Therapeutics, Inc. (NASDAQ:OREX) Here's a quick roundup of today's bearish brokerage notes on GPRO, GPS, and OREX.

  • Following a bleak forecast from supplier Ambarella Inc (NASDAQ:AMBA), GPRO was hammered with a downgrade to "neutral" from "outperform" at Baird, along with a price-target cut to $18 from $36. The stock has slumped 3.7% in pre-market action after ending Thursday at $18.93, on pace to extend its steep year-to-date deficit of more than 70%. Negative analyst attention is nothing new for underperforming GoPro Inc, with a mid-November note from Piper Jaffray calling for GPRO shares to plummet into never-before-seen territory.
  • Retail stalwart GPS is off more than 3% in electronic trading, with the stock attracting a late-Thursday price-target cut to $26 from $27 in the wake of its downbeat November same-store sales figures. Shares of Gap Inc ended at $26.11 yesterday, extending a long-term slump below resistance at their 40-day moving average. Given the stock's bleak price action, it's no surprise to find plenty of pessimism surrounding GPS. Currently, the retailer sports only 9% "buy" ratings from analysts, and over 11% of its float is sold short.
  • Wells Fargo slashed its rating on OREX to "market perform" from "outperform," sending the stock down 0.9% ahead of the bell. Shares of the drug company have spiraled to a 63.5% loss so far in 2015, ending Thursday at just $2.21 per share. Nevertheless, today's downgrade represents a very rare bearish note for Orexigen Therapeutics, Inc. Heading into the session, all five brokerage firms following OREX deemed it a "buy" or better.

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