Analyst Update: PTC Therapeutics, Zeltiq, First Solar

Analysts adjusted their ratings and price targets on PTC Therapeutics, Inc. (NASDAQ:PTCT), Zeltiq Aesthetics Inc (NASDAQ:ZLTQ), and First Solar, Inc. (NASDAQ:FSLR)

Mar 1, 2016 at 3:05 PM
facebook twitter linkedin

Analysts are weighing in on drugmaker PTC Therapeutics, Inc. (NASDAQ:PTCT), weight-loss stock Zeltiq Aesthetics Inc (NASDAQ:ZLTQ), and solar energy stock First Solar, Inc. (NASDAQ:FSLR). Here's a quick roundup of today's brokerage notes on PTCT, ZLTQ, and FSLR.

  • PTCT continues to fall, earlier hitting at an all-time low of $5.29. At last check, the shares were off 30.3% at $5.67, as analysts slash their expectations after the company reported a larger-than-forecast fourth-quarter loss. Included in the brokerage bunch were Cowen, BofA-Merrill Lynch, and Wedbush, which all reduced their outlooks on PTC Therapeutics, Inc. to the equivalent of "neutral," with the latter lowering its price target to $11 from $27. The shares have lost almost 83% in 2016, due mostly to devastating news pertaining to the company's muscle disorder treatment, translarna, and short sellers have taken notice. Specifically, at average daily volumes, it'd take a remarkable 17 sessions for bears to buy back their shares, with over one-third of PTCT's float sold short. 
  • ZLTQ has fallen 10.3% to $20.65, after the company's fourth-quarter earnings missed expectations. Maxim responded with a $10 price-target reduction to $40, while Leerink raised its price target to $40 from $37. If the shares don't turn things around, they could revisit their annual low of $18.41 from mid-February. Specifically, seven of the eight brokerage firms that cover Zeltiq Aesthetics Inc say it's a "strong buy," and none rate it a "sell," even though the stock's 46% below its Aug. 6 record high of $38.49. In other words, further losses could be exacerbated by additional bearish brokerage notes.
  • FSLR's post-earnings rally has stalled today, following a downgrade to "neutral" from "overweight" at J.P. Morgan Securities. The shares were last seen 3.6% lower at $69.29, though they're still roughly 21% above their Jan. 20 year-to-date low of $57.20. In today's trading, call volume is outpacing put volume, which is unusual for First Solar, Inc. For instance, the stock's 10-day put/call volume ratio of 1.48 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) arrives in the 93rd percentile of its annual range. Should the shares resume their longer-term uptrend, an unwinding of these bearish bets could help fuel the fire.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Barrick Gold Corporation, Transocean LTD, and Schlumberger Limited and Analyst Downgrades: Bank of America Corp, Valeant Pharmaceuticals Intl Inc, and Workday Inc.

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!



Special Offers from Schaeffer's Trading Partners