Analyst Upgrades: Agios Pharma, Alibaba, Royal Gold

Analysts upwardly revised their ratings and price targets on Agios Pharmaceuticals Inc (AGIO), Alibaba Group Holding Ltd (BABA), and Royal Gold, Inc (USA) (RGLD)

Jun 13, 2016 at 10:16 AM
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Analysts are weighing in on biotech Agios Pharmaceuticals Inc (NASDAQ:AGIO), Chinese e-tailer Alibaba Group Holding Ltd (NYSE:BABA), and precious metals stock Royal Gold, Inc (USA) (NASDAQ:RGLD). Here's a quick roundup of today's bullish brokerage notes on AGIO, BABA, and RGLD.

  • AGIO is up 4.9% at $52.82, after the company revealed upbeat data on its AG-348 drug to treat PK deficiency -- which has helped the stock pare Friday's losses related to AG-519 studies. A duo of bullish brokerage ratings is also propelling AGIO higher, after Canaccord Genuity upgraded the stock to "buy" from "hold" and hiked its price target to $90 from $50, and J.P. Morgan Securities upgraded AGIO to "overweight." Although AGIO has lost half of its value year-over-year, it seems to have found a foothold atop its 50-day moving average. Short interest in the stock is elevated, with 19.9% of Agios Pharmaceuticals Inc's float sold short -- an amount that would take traders nearly two weeks of trading, and AGIO's average daily volume, to cover.
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  • BABA is down 1.1% at $75.09, ahead of today's corporate analyst meeting and amidst the latest bidding-war rumors for core Yahoo! Inc (NASDAQ: YHOO) assets. The stock is shrugging off an upbeat analyst note, after Citigroup raised its price target to $98 from $95.60. BABA has found a foothold in the $74-$75 area -- home to its 200-day moving average -- although the shares have had difficulty surmounting the $82 mark (and year-to-date breakeven) in 2016. Still, 16 of 18 analysts rank BABA a "buy" or better, without a single "sell" to be found. 

  • RGLD is down 0.2% at $65.44, despite a price-target hike to $66 from $60 by RBC. Royal Gold, Inc (USA) was just one of many gold stocks to rally last week, as June rate-hike expectations faded and global "Brexit" fears sparked "safe haven" demand. The stock is up 80% in 2016, and touched an annual high of $67.97 on Friday. As such, a short-term breather could be in the cards, as RGLD's 14-day Relative Strength Index (RSI) of 69 toes the line of "overbought" territory. Bulls have been hot on the stock of late, with RGLD's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE) and NASDAQ OMX PHLX (PHLX) sitting at a staggering 23.3, higher than 98% of all other readings from the past year. 
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