Tetraphase Pharmaceuticals, Ionis Pharmaceuticals, Facebook Stocks Moving Today

Three stocks making big moves on the charts today are Tetraphase Pharmaceuticals Inc (TTPH), Ionis Pharmaceuticals Inc (IONS), and Facebook Inc (FB)

Mar 10, 2017 at 1:06 PM
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The S&P is set to snap a six-week winning streak, with traders turning their attention to next week's Fed decision after a blowout jobs report. Among specific equities in focus are biotech stocks Tetraphase Pharmaceuticals Inc (NASDAQ:TTPH) and Ionis Pharmaceuticals Inc (NASDAQ:IONS), as well as social media giant Facebook Inc (NASDAQ:FB). Here's a quick look at what's moving shares of TTPH, IONS, and FB.

TTPH Stock Touches New High on Analyst Nod

Two days after reporting quarterly earnings, TTPH stock is basking in the glow of an upgrade to "outperform" from "market perform" at BMO, which also raised its price target on the stock to $10 from $6 -- representing a level the shares haven't seen on a closing basis since late 2015. The shares are up 15.3% at $7.01 today -- and just off a new annual high of $7.44 -- making TTPH one of the top performers on the Nasdaq. Tetraphase Pharmaceuticals Inc could benefit from further bullish attention, too, as four out of five analysts currently rate the stock a lukewarm "hold." Plus, bullish brokerage notes may well be overdue, considering the shares have been booming up the charts for more than a month, adding 74% so far in 2017. 

Goldman Sachs Downgrade Sends IONS Stock Spiraling

IONS is sinking 11.8% to $40.41 -- among the leading laggards on the Nasdaq -- following a downgrade to "sell" from "neutral" at Goldman Sachs, which simultaneously slashed its price target by $3 to $25 -- a 38% discount to current levels. Perhaps most troubling for shareholders, the stock is struggling to find a foothold in the $41-$42 region, which contained pullbacks over the past few months. But Ionis Pharmaceuticals Inc is no stranger to pessimism. Not only have options traders targeted IONS puts at unusually high rates in recent months, but short interest has climbed to account for nearly 11% of the stock's total float. At average daily volumes, it would take short sellers roughly nine sessions to cover all these outstanding bearish bets.

Soccer Streaming Deal Sends FB Stock to All-Time High

Last seen up 0.3% at $138.64, FB stock tagged a new record high of $139.49 this morning, following news the social media platform signed an agreement with Major League Soccer and Univision Communications Inc., acquiring the rights to stream professional soccer games, as well a "Matchday Live" analysis program. Facebook Inc shares have been charging higher atop their 10- and 20-day moving averages for months, widening their year-to-date lead to 20.5%. But while analysts continue to cheer FB's achievements, the shares could be due for a breather -- with a 14-day Relative Strength Index (RSI) of 71.5, the stock is now in overbought territory.

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