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
facebook X logo linkedin

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.
Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI