Analyst Update: Cerecor Inc, Pioneer Energy Services Corp, and Trinity Industries Inc

Analysts are weighing in on Cerecor Inc (CERC), Pioneer Energy Services Corp (PES), and Trinity Industries Inc (TRN)

Nov 30, 2016 at 3:23 PM
facebook X logo linkedin


U.S. stocks are paring early gains, as oil continues to rally. Among specific equities in focus today are biotech Cerecor Inc (NASDAQ:CERC), drilling stock Pioneer Energy Services Corp (NYSE:PES), and rail industrial company Trinity Industries Inc (NYSE:TRN). Here's a quick roundup of today's brokerage notes on CERC, PES, and TRN.

  • CERC is currently the worst performer on the Nasdaq, trading down a whopping 57.1% at $2.03, after the company's major depressive disorder drug, CERC-301, failed to achieve its primary endpoint during a Phase 2 study.  Rodman & Renshaw cut its target price on CERC to $4 from $15 -- a 73% reduction. The stock is currently down 40.5% since the beginning of 2016, and is now within a chip-shot of record lows. A number of short sellers are probably cheering today's drop, especially with Cerecor Inc's short interest up 17.6% over the last two reporting periods, though shorted shares still only account for 2.2% of CERC's float.

  • PES is up 9.8% at $5.05, as energy stocks skyrocket, and after Goldman Sachs hiked its price target to $3.40 from $3.00, and reaffirmed its "neutral" rating. Pioneer Energy Services Corp shares notched a new annual high of $5.15 earlier today, and PES is up more than 430% since its January lows, bouncing off its 160-day moving average several times since August. Calls have been popular among near-term option players, with PES's Schaeffer's put/call open interest ratio (SOIR) of 0.05 sitting below 92% of all other readings from the past 12 months, indicating an elevated appetite for calls over puts. However, open interest on PES is light on an absolute basis.

  • TRN is trading up 3% at $27.76, enjoying sector tailwinds after upbeat comments from fellow rail concern (subscription required) CSX Corporation (NASDAQ:CSX). In addition, Stifel raised its target price on TRN to $22 from $19. Trinity Industries Inc stock now sits up 15.7% so far in 2016, and earlier notched a new annual high of $28.14. Bullish betting has ramped up in recent weeks, with TRN's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sitting at 8.57 -- higher than 83% of all other readings from the past 12 months, though TRN's option volume is relatively low on an absolute basis, with just 35 puts crossing over the last 10 days, compared to 300 calls.
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 C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI