Analyst Update: InvenSense Inc, BioCryst Pharmaceuticals, Inc., and Alibaba Group Holding Ltd

Analysts are weighing in on circuit maker InvenSense Inc (NYSE:INVN), biopharmaceutical stock BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX), and Chinese e-tailer Alibaba Group Holding Ltd (NYSE:BABA). Here's a quick roundup of today's brokerage notes on INVN, BCRX, and BABA.

• INVN is up 12.4% at $7.64, and is on track for its best day in nine months, after last night's upgrade to "overweight" by Pacific Crest. The brokerage firm cited the popularity of Pokemon Go as a "significant growth opportunity" for InvenSense Inc, especially as augmented reality games continue to gain popularity. The circuit maker is down 25% year-over-year, but after today's gains INVN is on track to close above its 32-week moving average for the first time since June 2015. In the option pits, near-term traders have been getting a bargain, with INVN's Schaeffer's Volatility Index (SVI) of 42% sitting at an annual low, implying that near-term option players are pricing in the lowest volatility expectations in 12 months.

• BCRX is up 5.8% at $5.32, after announcing yesterday that it had moved forward in its Phase 2 trials of BCX7353 for the treatment of hereditary angioedema. Piper Jaffray has since upgraded BCRX to "overweight" from "neutral," and hiked its price target to $8 from $5 -- territory not charted since well before BCRX's early February bear gap. While BCRX is still down over 54% year-over-year, today's gains have put the stock above its 200-day moving average for the first time since October 2015.  However, even before today's rally, BioCryst Pharmaceuticals, Inc. racked up a 14-day Relative Strength Index (RSI) of 87 – well into "overbought" territory, suggesting a short-term breather may be in the near future.

• BABA is up 6.4% at $97.68 – its highest perch in over 18 months – after yesterday's earnings win was met with an addition to Goldman Sachs' "Americas Conviction Buy" list. Further, BABA has scored post-earnings upgrades to "outperform" by both Raymond James and Macquerie, and no fewer than 10 price-target hikes, including a hike by JPMorgan Securities to $129 from $96. Alibaba Group Holding Ltd is currently up over 20% so far in 2016, and yesterday's post-earnings jump bumped the shares above the $85-$86 region that had served as resistance since June 2015. Short interest in the stock is up 2.5% over the last two reporting periods, now accounting for 9% of BABA's float -- which would take nearly two weeks of trading to cover, at BABA's average daily volume. If short sellers decide to abandon ship, this leaves plenty of room for a short squeeze to further boost BABA.