Endo International, Mallinckrodt, Celgene Stocks Moving Today

Three stocks making big moves on the charts today are Endo International plc (ENDP), Mallinckrodt PLC (MNK), and Celgene Corporation (CELG)

Mar 7, 2017 at 3:14 PM
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After briefly touching positive territory, the Dow is looking at its first back-to-back loss since January. Among specific equities in focus are drug stocks Endo International plc - Ordinary Shares (NASDAQ:ENDP)Mallinckrodt PLC (NYSE:MNK), and Celgene Corporation (NASDAQ:CELG). Here's a quick look at what's moving shares of ENDP, MNK, and CELG.

Price-Target Cut Sends Endo International to New Lows

ENDP is off 4.8% at $10.85, after earlier touching a roughly 14-year low of $10.39. Weighing on the shares is a price-target cut to $18 from $20 at Deutsche Bank, which cited a drop in generic drug sales. The stock -- which was recently booted from the S&P 500 Index (SPX) -- has surrendered nearly 76% year-over-year, and was rejected last week at its declining 50-day moving average. Further bearish brokerage notes could spell even more trouble. At present, eight out of 18 covering analysts rate Endo International plc a "buy" or better, while not one calls it a "sell." Plus, the average 12-month price target of $17.68 sits at a 63% premium over current trading levels. 

Trump Tweet Weighs on Mallinckrodt Shares

This morning's comments from President Donald Trump regarding drug pricing are weighing heavily on MNK, which was last spotted 2.7% lower at $49.89. The shares are trying to find a foothold at the year-to-date breakeven level, though. While the stock is down 23% year-over-year, 13 out of 14 analysts rate MNK a "buy" or better, compared to a single "hold." But short sellers are less convinced. Short interest on Mallinckrodt PLC grew by 24.1% during the two most recent reporting periods, and now represents 12.8% of the stock's available float -- or 5.5 times the security's average daily pace of trading.

Celgene Options Traders See More Upside Ahead

Trump talk is also causing CELG to take a tumble, with the shares down 1.1% at $122.17. The stock has bounced 10% off its late-January lows, though this rally recently came up short in the $124 region. Like analysts -- 88% maintain a "strong buy" rating -- options traders are firmly in the equity's bullish corner. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), call buying has tripled put buying over the last 10 weeks. Moreover, Celgene Corporation's resulting call/put volume ratio of 3.31 ranks higher than 90% of all readings from the past year.

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