Analyst Downgrades: Baidu Inc (ADR), Revance Therapeutics Inc, and Chesapeake Energy Corporation

Analysts downwardly revised their ratings and price targets on Baidu Inc (ADR) (BIDU), Revance Therapeutics Inc (RVNC), and Chesapeake Energy Corporation (CHK)

by Celeste Taylor

Published on Jun 14, 2016 at 9:38 AM

Analysts are weighing in on Chinese internet stock Baidu Inc (ADR) (NASDAQ:BIDU), biotech Revance Therapeutics Inc (NASDAQ:RVNC), and oil-and-gas-stock Chesapeake Energy Corporation (NYSE:CHK). Here's a quick roundup of today's bearish brokerage notes on BIDU, RVNC, and CHK.

  • RVNC is down 27% at $13.39 -- and just hit a record low of $13.21-- after announcing it would halt development on its REALISE 1 topical gel, intended to treat 'crow's feet,' after the treatment missed its Phase 3 trial goals. Following this announcement, Brean downgraded Revance Therapeutics Inc to "hold" from "buy," Suntrust Robinson more than halved the stock's price target to $22 from $46, and William Blair issued a price-target cut to $41 from $50. RVNC has lost nearly 61% of its value since the beginning of the year, and this latest drop puts the stock below former support in the $15-$16 region. There are plenty of options bulls likely kicking rocks, with RVNC's 50-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE) and NASDAQ OMX PHLX (PHLX) of 15.4 sitting higher than 90% of all other readings from the past year.
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