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Analyst Update: Himax Technologies, Inc., Pacira Pharmaceuticals Inc, and RetailMeNot Inc

Analysts are weighing in on Himax Technologies, Inc. (ADR) (HIMX), Pacira Pharmaceuticals Inc (PCRX), and RetailMeNot Inc (SALE)

Sep 26, 2016 at 12:58 PM
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Analysts are weighing in on semiconductor stock Himax Technologies, Inc. (ADR) (NASDAQ:HIMX), biotech Pacira Pharmaceuticals Inc (NASDAQ:PCRX), and digital savings destination RetailMeNot Inc (NASDAQ:SALE). Here's a quick roundup of today's brokerage notes on HIMX, PCRX, and SALE.

  • HIMX has plunged 16.1% at $9 -- its worst percentage loss in four months -- after Nomura slashed its rating to "neutral" from "buy," and lowered its price target to $10.20 from $12. In a client note, the brokerage firm warned of weaker shipments of the company's major augmented reality (AR) device. Suffice it to say, Himax Technologies, Inc. has found a spot on the short-sale restricted (SSR) list, and is among the biggest decliners on the Nasdaq. Option bears should be in good shape, though. During the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), HIMX has racked up a put/call volume ratio of 1.31 -- higher than all other readings from the past year.
  • PCRX is off 3.7% at $35.51, following a $14 price-target cut to $60 at Jefferies. Year-to-date, the shares have now surrendered nearly 54% of their value. Given such terrible technicals, it would come as little surprise if Pacira Pharmaceuticals Inc was hit with additional bearish brokerage notes. After all, two-thirds of analysts rate the stock a "strong buy," with not a single "sell" opinion to be found. Plus, the consensus 12-month price target of $69.22 nearly doubles PCRX's present perch.
  • SALE is also resting on the SSR list, down 21.6% at $8.84. Pressuring the shares is a downgrade to "sell" from "hold" at Stifel. In fact, the gap lower has RetailMeNot Inc on the verge of closing its early August bull gap. Elsewhere, a bunch of former short sellers are likely kicking rocks this afternoon. During the last two reporting periods, short interest on SALE plummeted 36.6%, and just 2.2% of the stock's float is now shorted.
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