Analyst Downgrades: Weight Watchers International, Inc., Oracle Corporation, and Agios Pharmaceuticals Inc

Analysts downwardly revised their ratings and price targets on Weight Watchers International, Inc. (WTW), Oracle Corporation (ORCL), and Agios Pharmaceuticals Inc (AGIO)

Dec 16, 2016 at 10:00 AM
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Analysts are weighing in on weight loss specialist Weight Watchers International, Inc. (NYSE:WTW), software stock Oracle Corporation (NYSE:ORCL), and biotech issue Agios Pharmaceuticals Inc (NASDAQ:AGIO). Here's a quick roundup of today's bearish brokerage notes on WTW, ORCL, and AGIO.

  • WTW has dropped 6.5% to $10.14, after Morgan Stanley downgraded the stock to "underweight" from "equal weight," and cut its price target to $8 from $12 -- representing annual-low territory for the shares. Weight Watchers International, Inc. has been slumping through most of 2016, most recently running into trouble in the $10.50-$11 region, home to its 10- and 20-week moving averages. Some traders certainly seem to be betting on more losses ahead, too -- more than 50% of WTW's available float is currently sold short, representing almost five weeks' worth of buying power, at the stock's average daily volume. 

  • ORCL is off 4.3% at $39.12 -- paring its year-to-date lead to 7.1% -- after the company's quarterly revenue fell short of expectations. The stock has seen a mixed bag of analyst attention as a result -- Stifel and BMO cut their price targets on the stock to $44 and $45, respectively, while Wedbush and UBS increased their respective targets to $42 and $45. Still, more than half of the analysts following Oracle Corporation maintain a "buy" or better rating. Plus, the shares are so far holding on to a familiar foothold above the 50-day moving average.

  • AGIO has given back 20.3% to trade at $44.56, after the company halted development on its troubled anemia treatment, AG-519, prompting Credit Suisse to cut its price target to $66 from $72 and Janney to slash its price target to $44 from $51. The shares have already surrendered nearly 31% of their value year-to-date, and could be in for more trouble after giving up their perch above the $46 level. Bearish options traders could be cheering this latest development, though. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Agios Pharmaceuticals Inc's 10-day put/call volume ratio of 0.37 is higher than 71% of all readings from the past 12 months, indicating a healthier-than-usual appetite for long puts over calls of late.
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