Analyst Update: Celldex, EP Energy, Boston Beer Co

Analysts adjusted their ratings and price targets on Celldex Therapeutics, Inc. (CLDX), EP Energy Corp (EPE), and Boston Beer Co Inc (SAM)

Mar 8, 2016 at 2:19 PM
facebook twitter linkedin

Analysts are weighing in on biotech Celldex Therapeutics, Inc. (NASDAQ:CLDX), oil-and-gas stock EP Energy Corp (NYSE:EPE), and Sam Adams parent Boston Beer Co Inc (NYSE:SAM). Here's a quick roundup of today's brokerage notes on CLDX, EPE, and SAM.

  • A day after plummeting on the termination of a brain cancer vaccine study, CLDX is off another 0.3% at $3.78 and earlier touched a roughly four-year low of $3.57. Considering all of the bearish brokerage attention it's received, though, the stock is holding up relatively well. Specifically, Jefferies lowered its rating on Celldex Therapeutics, Inc. to "hold" from "buy," and slashed its price target to $4 from $31. Price-target cuts also came from Cowen (to $12 fro $28) and H.C. Wainwright (to $6 from $25). Meanwhile, short sellers are crossing their fingers in the hopes of more downside for the technical underperformer. During the last two reporting periods, short interest on CLDX climbed 25.8%, and now accounts for over one-quarter of its total float.
  • EPE has given back a portion of yesterday's colossal gains, after Credit Suisse reduced its rating to "neutral" from "outperform," citing "risks to the company's balance sheet once its hedges roll off in 2017." Most recently, the shares were seen 19.4% lower at $5.52, but they're still up 40.4% week-to-date. Of course, EP Energy Corp's losses may have been in the cards regardless of the downgrade, considering its 14-Day Relative Strength Index (RSI) of 81 sits in overbought territory. Taking a step back, Credit Suisse isn't the only brokerage firm skeptical of the stock. In fact, 12 of 13 analysts following EPE have handed out a "hold" or worse opinion.
  • SAM is down 12% at $175.56 -- on track for its biggest single-day percentage loss in more than four months -- following a downgrade to "underperform" from "outperform" at CLSA. What's more, the brokerage cut its 2016 earnings outlook for Boston Beer Co Inc, citing "ongoing weakness in its flagship brews." Today's loss represents quite the setback for a stock that had been steadily gaining ground since hitting a two-year low of $160.84 in late January. If traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) get their wish, SAM will slide even further. The stock's 50-day put/call volume ratio of 1.07 across those exchanges is just 1 percentage point from an annual peak.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Chesapeake Energy Corporation, Urban Outfitters, Inc., and Panera Bread Co and Analyst Downgrades: Shake Shack Inc, Pfizer Inc., and Valeant Pharmaceuticals Intl Inc.

Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!