Analyst Downgrades: Sarepta Therapeutics Inc, Fitbit Inc, and Express Scripts Holding Company

Analysts downwardly revised their ratings and price targets on Sarepta Therapeutics Inc (NASDAQ:SRPT), Fitbit Inc (NYSE:FIT), and Express Scripts Holding Company (NASDAQ:ESRX)

Jan 19, 2016 at 10:25 AM
facebook X logo linkedin

Analysts are weighing in on biopharmaceutical firm Sarepta Therapeutics Inc (NASDAQ:SRPT), wearable device maker Fitbit Inc (NYSE:FIT), and prescription benefits specialist Express Scripts Holding Company (NASDAQ:ESRX). Here's a quick roundup of today's bearish brokerage notes on SRPT, FIT, and ESRX.

  • SRPT is 1.5% higher at $14.50, despite receiving a downgrade to "sector perform" from "outperform" and a price-target cut to $15 from $62 at RBC. SunTrust Robinson also weighed in on the stock, slashing its price target by $14 to $20. On the charts, the security has struggled against the $41 mark for much of the last year (and topped out at an annual peak of $41.97 in early October). In fact, since last hitting this mark on Dec. 30, shares of Sarepta Therapeutics Inc have shed 65% -- due in large part to last Friday's FDA-induced bear gap. Short sellers, meanwhile, have more than likely been cheering the slide, considering 26.1% of the stock's float is sold short.

  • It's been a slow start to the year for FIT, with the shares off 38%. This may be what prompted SunTrust Robinson to cut its price target on Fitbit Inc to $30 from $48. However, due to a broad-market bounce, the shares have shown little concern for this negative analyst attention, last seen up 3.3% at $18.55. On the sentiment front, option traders have been keeping the faith. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), for example, speculators have bought to open 1.69 calls for each put over the past month.

  • Leerink downgraded its outlook for ESRX to "market perform" from "outperform" overnight, while also lowering its price target to $80 from $95. Against this backdrop, the shares are 0.8% lower at $74.03 -- widening their year-to-date deficit to 15.4%. While the stock has been struggling, option traders have been upping the bearish ante. Specifically, Express Scripts Holding Company's 10-day ISE/CBOE/PHLX put/call volume ratio of 5.06 sits just 6 percentage points from a 52-week peak. In other words, speculators have bought to open puts over calls at a near-annual-high clip.
Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI