Analyst Downgrades: Valeant Pharmaceuticals Intl Inc, Microsemi Corporation, and BlackRock, Inc.

Analysts downwardly revised their ratings and price targets on biotech Valeant Pharmaceuticals Intl Inc (VRX), semiconductor stock Microsemi Corporation (MSCC), and investment firm BlackRock, Inc. (BLK)

by Celeste Taylor

Published on Jan 4, 2017 at 10:25 AM
Updated on Jan 4, 2017 at 10:45 AM

Analysts are weighing in on biotech Valeant Pharmaceuticals Intl Inc (NYSE:VRX), semiconductor stock Microsemi Corporation (NASDAQ:MSCC), and investment firm BlackRock, Inc. (NYSE:BLK). Here's a quick roundup of today's bearish brokerage notes on VRX, MSCC, and BLK. 

  • VRX is down 1.8% at $14.96, after a downbeat analyst note from Piper Jaffray, which called VRX "uninvestable" and lowered its price target to $11 from $16  -- seven-year low territory. VRX has plummeted 94% since notching an all-time high of $263.70 in August 2015, and is currently looking up at resistance from its 30-day moving average. In the option pits, Valeant Pharmaceuticals Intl Inc sports a Schaeffer's put/call open interest ratio (SOIR) of 0.65, which sits lower than 82% of all other readings from the past year, indicating a larger-than-usual call-skew among near-term option players.

  • MSCC is trading down 1.6% at $53.69, after Goldman Sachs removed the stock from its "Americas Buy" list, and cut its opinion to "neutral" from "buy," though the brokerage firm also raised its target price on the semiconductor stock to $56 from $50. The shares touched an all-time high of $57.32 in early December, but since then have been churning between $53 and $57. Short sellers are likely cheering today's dip, with short interest accounting for 8.2% of MSCC's float, which would take nearly eight days to cover, at Microsemi Corporation's average daily volume.

  • BLK is down 0.3% at $385.14, following a downgrade to "neutral" from "buy" by Goldman Sachs. The shares recently notched an all-time high of $399.46 in late December, and are currently up more than 37% since BLK's January 2016 lows. Despite its trek upwards over the past year, bearish sentiment prevails in BlackRock, Inc.'s option pits, with BLK's 50-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 1.26 sitting just 6 percentage points from an annual peak. 
Find out where the Dow lands right after the closing bell. Sign up now for Schaeffer's Market Recap

A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Latest Investor's Guide to Precious Metals
Learn how to protect savings and maximize returns by investing in precious metals.
Wall Street Reclaims Two Key Trendlines This Week
U.S.-China tensions and dire economic data still weigh, though
Dell Stock Jumps on Upbeat First Quarter
DELL announced an upbeat first-quarter report
The Latest Investor's Guide to Precious Metals
Learn how to protect savings and maximize returns by investing in precious metals.