Analyst Update: Keryx, Southwestern Energy, Signet Jewelers

Analysts adjusted their ratings and price targets on Keryx Biopharmaceuticals (KERX), Southwestern Energy Company (SWN), and Signet Jewelers Ltd. (SIG)

by Andrea Kramer

Published on Feb 29, 2016 at 1:47 PM
Updated on Jun 29, 2020 at 4:35 PM

Analysts are weighing in on drugmaker Keryx Biopharmaceuticals (NASDAQ:KERX), oil-and-gas stock Southwestern Energy Company (NYSE:SWN), and bling retailer Signet Jewelers Ltd. (NYSE:SIG). Here's a quick roundup of today's brokerage notes on KERX, SWN, and SIG.

  • KERX is 12.9% higher at $4.11 -- on pace for its best session in two years -- thanks to an upgrade to "outperform" from "market perform" at FBR. The analysts waxed optimistic on Keryx Biopharmaceuticals' drug pipeline, including Auryxia's prospects in 2016 and a drug to treat anemic pre-dialysis patients, which has the "potential to be a major driver for the stock." Although today's pop has lost some steam in the face of KERX's 80-day moving average, it could catch quite a few shorts off-guard. More than one-third of KERX's float is dedicated to short interest, representing close to 20 days' worth of pent-up buying demand, at the stock's average pace of trading.
  • SWN is 8% lower at $5.87 -- on track for a third straight loss, and still reeling from a dismal earnings showing on Friday. Pressuring the shares is a round of negative analyst attention, with Raymond James downgrading SWN to "underperform" from "market perform," and Scotia Howard Weil and RBC cutting their price targets to $7.50 and $9, respectively. Most analysts are already in Southwestern Energy Company's bearish corner, with just six out of 22 offering up "buy" or better opinions.
  • SIG is enjoying a rally after estimating fourth-quarter earnings above estimates, and approving an 18% increase to its quarterly dividend. Furthermore, Topeka subsequently lifted its price target on SIG to $169 from $160. The shares were last seen 10.2% higher at $109.26, and on pace to end atop their 30-day moving average for the first time since Jan. 22. Meanwhile, Signet Jewelers Ltd. calls are trading at 21 times the average intraday clip today, with Trade-Alert attributing most of the action to a large, bullish ratio spread at the March 115 and 120 calls.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Newfield Exploration Co., Yahoo! Inc., and Visa Inc and Analyst Downgrades: Ambarella Inc, Baidu Inc, and Valeant Pharmaceuticals Intl Inc.

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