Analyst Downgrades: Eli Lilly and Co, Juno Therapeutics Inc, and New York Times Co

Analysts downwardly revised their ratings and price targets on Eli Lilly and Co (NYSE:LLY), Juno Therapeutics Inc (NASDAQ:JUNO), and New York Times Co (NYSE:NYT)

Nov 25, 2016 at 9:50 AM
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Analysts are weighing in on drugmakers Eli Lilly and Co (NYSE:LLY) and Juno Therapeutics Inc (NASDAQ:JUNO), as well as media stock New York Times Co (NYSE:NYT). Here's a quick roundup of today's bearish brokerage notes on LLY, JUNO, and NYT.

  • Analysts continue to cut their expectations on LLY, following the company's disappointing drug news from Wednesday. Atlantic Equities downgraded the stock to "neutral" from "overweight," while BMO lowered its rating to "neutral," and was one of at least four brokerages to slash its their price target. Regardless, the shares are up 0.1% this morning at $68.05, while sitting on a year-to-date loss of 19.2%. Eli Lilly and Co could be in danger of additional bear notes, too, considering 11 of 15 brokerage firms still rate it a "strong buy." 

  • JUNO is sliding on bearish analyst attention, dropping 2.1% to trade at $22.09, after SunTrust Robinson lowered its rating to "hold" from "buy," and cut its price target nearly in half, to $25 from $48. The shares have given back 60.8% in the past 12 months, hitting an all-time low of $19.41 on Wednesday. Still, call buying has remained extremely popular at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). Juno Therapeutics Inc's 10-day call/put volume ratio across these exchanges is 6.41, which sits near the top quartile of its annual range.  

  • NYT is up 0.4% at $12.90, even after Barclays on Wednesday cut its price target to $14 from $15. While the stock is still lower on a year-to-date basis, it's followed the broader market higher this month, gaining 21.7% since its Nov. 3 low of $10.60. Unfortunately, short-term New York Times Co options traders are decidedly put-skewed. This is according to the stock's Schaeffer's put/call open interest ratio (SOIR) of 1.41 -- a reading that sits above 77% of all others from the past year. 
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