Analyst Update: Acacia Communications, Inc., BioMarin Pharmaceutical Inc., and AngloGold Ashanti Limited (ADR)

Analysts are weighing in on Acacia Communications, Inc. (ACIA), BioMarin Pharmaceutical Inc. (BMRN), and AngloGold Ashanti Limited (ADR) (AU)

Nov 7, 2016 at 3:53 PM
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U.S. stocks are soaring, after the FBI announced it still has no charges to file against Hillary Clinton after the latest email server probe. Among stocks in focus are fiber optics specialist Acacia Communications, Inc. (NASDAQ:ACIA), biotech BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), and gold stock AngloGold Ashanti Limited (ADR) (NYSE:AU). Here's a quick roundup of today's brokerage notes on ACIA, BMRN, and AU.

  • ACIA is up 4.9% at $65.98, after William Blair opined that Facebook Inc's (NASDAQ:FB) "Voyager" initiative will be a "big win" for Acacia, and reiterated its "outperform" rating for the stock. Today's boost is likely a welcome change for ACIA, which is down over 48% since touching a record high of $128.73 in early September, although the shares have more than doubled since ACIA's initial public offering in May. Bulls rule in ACIA's option pits, with Acacia Communications, Inc. currently sporting a 10-day call/put volume ratio of 7.62 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX).
  • BMRN is trading 1.7% higher at $83.42, after Piper Jaffray said BMRN is an attractive acquisition target, noting that "it's a good time to sell the company." Still, the analysts downgraded the biotech to "neutral" from "overweight," and slashed its price target to $84 from $105. BMRN is on pace to tackle its 20-day moving average for the first time since early October, but remains more than 20% lower year-to-date.  A few recent option buyers are likely kicking rocks after today's bounce, with BioMarin Pharmaceutical Inc.'s 10-day ISE/CBOE/PHLX put/call volume ratio of 1.15 sitting higher than 74% of all other readings from the past 12 months.

  • AU is trading 4.9% lower at $13.48, as gold stocks get drilled on a stronger dollar and rush to riskier assets. Adding salt to AU's proverbial wounds, Renaissance Capital reiterated a "sell" rating and cut its price target to 160 rand from 210. AngloGold Ashanti Limited (ADR) has dropped 41% from its early August high of $22.91, and is facing resistance in the $14.50 area -- about a 50% Fibonacci retracement of its rally from December to August. There's likely quite a bit of cheering in AU's option pits today, with AU's 10-day ISE/CBOE/PHLX put/call volume ratio showing nearly 17.3 puts bought to open for every call over the past two weeks, a reading that sits just 1 percentage point from an annual peak.
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