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)

by Elizabeth Harrow

Published on Dec 4, 2015 at 9:28 AM
Updated on Dec 4, 2015 at 9:41 AM

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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