Analyst Downgrades: Gilead Sciences, Inc., Adeptus Health Inc, and Tableau Software Inc

Analysts downwardly revised their ratings and price targets on Gilead Sciences, Inc. (NASDAQ:GILD), Adeptus Health Inc (NYSE:ADPT), and Tableau Software Inc (NYSE:DATA)

Josh Selway

Nov 2, 2016 at 9:56 AM

Analysts are weighing in on biotech stock Gilead Sciences, Inc. (NASDAQ:GILD), healthcare concern Adeptus Health Inc (NYSE:ADPT), and tech expert Tableau Software Inc (NYSE:DATA). Here's a quick roundup of today's bearish brokerage notes on GILD, ADPT, and DATA.

Analysts are trimming their expectations for GILD, after the company's disappointing quarterly results. For instance, Leerink was one of at least six brokerage firms to cut its price target, lowering its mark to $89 from $94. Of course, that's still well above GILD's current trading level of $72.97, down 1.5% today. Nevertheless, it's been an ugly year for Gilead Sciences, Inc. stock, falling 27%. Making matters worse, it would seem GILD is vulnerable to a round of downgrades, as 11 of 20 brokerage firms recommend buying the shares, and none give them a "sell" rating.

ADPT is plummeting 61.6% to $10.33 -- just off a new record low of $10.10 -- after law firms Johnson & Weaver, LLP and Glancy Prongay & Murray LLP both announced investigations into whether the company violated federal securities laws. Meanwhile, Adeptus Health Inc woefully missed Wall Street's earnings estimates, and said "we have engaged Goldman Sachs to explore various financing alternatives." As such, Jefferies slashed its price target to $13 from $77 and downgraded the stock to "hold" from "buy," while BofA-Merrill Lynch downgraded it to "underperform." Keybanc also chimed its with a price-target cut to $31 from $59. This is all fantastic news for short sellers, though, who control over half of the stock's total float, and who have watched the stock lose roughly 86% of its value since its May high above $73.

DATA is in the midst of a post-earnings slide of its own, as Wall Street punishes the stock for its quarterly revenue miss. No fewer than 18 brokerage firms have already reduced their price targets, with the lowest mark coming from Maxim, at $24. As such, Tableau Software Inc is off 11.9% at $43.61, though it had already been struggling amid overhead pressure from its 200-day moving average -- even as M&A rumors swirl. At the same time, short interest increased by almost 25% in the latest reporting period, so today's sell-off isn't bad news for everyone.

Find out where the Dow lands right after the closing bell. Sign up now for Schaeffer's Market Recap

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.