Analyst Update: Pacira Pharmaceuticals Inc, McKesson Corporation, and Newfield Exploration Co.

Analysts revised their ratings and price targets on Pacira Pharmaceuticals Inc (NASDAQ:PCRX), McKesson Corporation (NYSE:MCK), and Newfield Exploration Co. (NYSE:NFX)

Jun 29, 2016 at 1:26 PM
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Analysts are weighing in on biotech stock Pacira Pharmaceuticals Inc (NASDAQ:PCRX), healthcare supplies distributor McKesson Corporation (NYSE:MCK), and oil-and-gas stock Newfield Exploration Co. (NYSE:NFX)Here's a quick roundup of today's brokerage notes on PCRX, MCK, and NFX.

  • PCRX is trading 4.7% lower at $37.06 -- just above its 12-month low of $35.78 from October -- after BMO initiated coverage with an "underperform" opinion and $36 price target. Pacira Pharmaceuticals Inc been trending southward since topping out above $120 in early 2015, and could fall to victim to more bearish notes if these losses persist. Seven of eight covering brokerage firms call PCRX a "strong buy," with no "sell" ratings to be found. 
  • MCK is on the rise today, picking up 3.5% at $182.78, after the company raised its full-year outlook. What's more, Deutsche Bank raised its price target on the stock to $205 from $200. This represents a roughly 12% premium for the shares, which took a strong bounce from their rising 80-day moving average earlier in the week. Options traders -- and analysts -- expect McKesson Corporation to climb even higher, as more than five calls have been bought to open for each put during the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). The resultant call/put volume ratio of 5.12 ranks just 10 percentage points from an annual peak.
  • Since hitting a nearly two-year low of $20.84 in February, NFX has more than doubled in value, adding another 3.9% today at $44.50. In fact, the shares hit an annual high of $44.79 earlier, thanks to rising oil prices and bullish analyst attention. Specifically, Canaccord Genuity started coverage with a "buy" rating and a $48 price target, while Capital One Securities raised its price target -- also to $48. This bullish attention is nothing new, though, as 91% of brokerage firms say Newfield Exploration Co. is a "buy" or "strong buy" -- and not one recommends selling the stock. 

For other stocks in analysts' crosshairs, read Analyst Upgrades: Symantec Corporation, Mallinckrodt PLC, and Transocean LTD and Analyst Downgrades: Espirion Therapeutics Inc, Nike Inc, and Autoliv Inc.

 

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