Analysts upwardly revised their ratings and price targets on Apple Inc. (AAPL), Sarepta Therapeutics Inc (SRPT), and Gilead Sciences, Inc. (GILD)
Analysts are weighing in on iPhone maker
Apple Inc. (NASDAQ:AAPL), as well as biotech stocks
Sarepta Therapeutics Inc (NASDAQ:SRPT) and
Gilead Sciences, Inc. (NASDAQ:GILD). Here's a quick roundup of today's bullish brokerage notes on AAPL, SRPT, and GILD.
- More bullish attention is coming AAPL's way, as Needham started coverage with a "strong buy" recommendation, on top of a $150 price target -- all-time-high territory. This is just more of the same for AAPL, as 81% of brokerage firms already recommend buying it. After bouncing around the $92-$98 zone at the beginning of 2016, Apple Inc. has hit its stride, gaining 13.6% since the end of February to trade at $109.81. In fact, AAPL now sits near overbought territory, according to its 14-day Relative Strength Index (RSI) of 68.
- SRPT is set to pop 7.4% when the market opens, thanks to Oppenheimer's bullish note. The brokerage firm hiked its price target to $60 from $45, representing territory not explored in 14 years, and over three times the stock's Tuesday close at $19.53. Oppenheimer said it expects the Food and Drug Administration (FDA) to rule favorably on Sarepta Therapeutics Inc's drug eteplirsen late next month. Skepticism is rising in other areas, though, with short interest increasing 11.1% in the last two reporting periods, putting a stunning 35% of SRPT's float in short sellers' control.
- GILD has found new life on the charts recently, breaking out of the $87-$91 range that contained the shares for over a month. Plus, the stock's close at $95.57 on Tuesday marked its first finish above the 100-day moving average -- a strong level of resistance in late 2015 -- since late October. Jefferies has responded to this technical strength with a price-target hike to $101. Options traders also have high expectations. Specifically, Gilead Sciences, Inc.'s 50-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) comes in at 2.92 -- just 4 percentage points from an annual high.
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