Analyst Update: ACADIA Pharma, Coach, Texas Instruments

Analysts are weighing in today on biotech interest ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), retailer Coach Inc (NYSE:COH), and tech concern Texas Instruments Incorporated (NASDAQ:TXN). Here's a quick roundup of today's brokerage notes on ACAD, COH, and TXN.

• ACAD is trading 4% higher at $34.82, shaking off a price-target cut to $47 from $52 at Leerink, after the company appointed Julian C. Baker to its board. It seems many investors are conjecturing that this management shake-up could mean the company will soon be sold. On the charts, ACADIA Pharmaceuticals Inc. has been up and down all year, and is now sitting on a 9.7% gain in 2015. Still, the shares have been underperforming the S&P 500 Index (SPX) by nearly 17 percentage points over the past three months, and traders have been betting on further downside for ACAD. Currently, 16.8% of the stock's available float is sold short, which means today's speculation-fueled rally could be the result of some short-covering activity.

• COH is up 4.4%, last seen trading at $32.46, after receiving a price-target hike to $38 from $35, along with an upgrade to "outperform," at Cowen and Company. Coach Inc also landed an upgrade to "overweight" at Piper Jaffray on Monday. Despite the stock's 15.7% year-to-date loss, options traders have been upbeat. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), COH has a 50-day call/put volume ratio of 2.0, which ranks higher than 93% of readings in the past year.

• TXN has popped 2.9% to trade at $57.82, after Oppenheimer raised its rating to "outperform" from "perform." Options bears have backed off of TXN since the company reported quarterly earnings that beat expectations in October. Texas Instruments Incorporated now has a Schaeffer's put/call open interest ratio (SOIR) of 1.02, which ranks higher than only 12% of readings from the past 52 weeks -- indicating that near-term traders have shown a much heavier-than-usual preference for calls lately.