Analyst Update: T2 Biosystems Inc, La Jolla Pharmaceutical Company, and Illumina, Inc.

Analysts revised their ratings and price targets on T2 Biosystems Inc (TTOO), La Jolla Pharmaceutical Company (LJPC), and Illumina, Inc. (ILMN)

Kirra Fedyszyn
Jun 22, 2016 at 3:16 PM
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Analysts are weighing in on diagnostic specialist T2 Biosystems Inc (NASDAQ:TTOO), biotech stock La Jolla Pharmaceutical Company (NASDAQ:LJPC), and genetic analysis firm Illumina, Inc. (NASDAQ:ILMN)Here's a quick roundup of today's brokerage notes on TTOO, LJPC, and ILMN.

  • WBB Securities raised its rating on TTOO to "buy" from "speculative buy" after T2 Biosystems Inc presented upbeat data on its T2Candida Panel for diagnosing sepsis. The stock is 3.8% higher at $8.80 today, but has been on a long-term downtrend, stuck below its 200-day moving average and giving up more than half of its value over the past 52 weeks. While the majority of analysts providing coverage rate the shares at least a "buy," traders have taken a gloomier view. Short interest on TTOO rose 6.4% in the two most recent reporting periods, and now accounts for 6.2% of the stock's total float, or 17.2 times TTOO's average daily pace of trading.
  • LJPC is up 5.1% at $17.66, after SunTrust Robinson initiated coverage on the stock with a "buy" rating and a lofty $30 price target. This is just more of the same for La Jolla Pharmaceutical Company, which going into today's session, already boasted "strong buy" ratings from all five following analysts. Plus, the stock's average 12-month price target of $40 stands at a 127% premium over current trading levels -- and in territory not charted since last September. All this optimism among analysts is particularly interesting considering LJPC has shed 35% year-to-date. Short sellers, meanwhile, have been cashing in their winning bets recently. While short interest still represents a hefty 15.7% of LJPC's total float, it  fell by more than 15% during the two most recent reporting periods.
  • CL King began coverage on ILMN with a "buy" rating and $165 price target, helping the shares advance 1.4% to $141.04. The stock is sitting on a painful 36% year-over-year loss, and the brokerage bunch has taken a mostly downbeat view, with 69% giving out a tepid "hold" recommendation. While the stock's options volume has been somewhat light on an absolute basis, ILMN options traders haven't been shy about making bullish bets in recent months. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Illumina, Inc. holds a 50-day call/put volume ratio of 2.83 -- higher than 96% of all readings in the past year.

For other stocks in analysts' crosshairs, read Analyst Upgrades: ConAgra Foods Inc, KB Home, and Adobe Systems Incorporated and Analyst Downgrades: McDonald's Corporation, ACADIA Pharmaceuticals Inc., and Tesla Motors Inc.


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