Amgen, Corvus, Exelon Downgraded

Amgen, Corvus, and Exelon stock received bearish analyst attention

Apr 5, 2017 at 9:40 AM
facebook X logo linkedin


Analysts are weighing in on drugmakers Amgen, Inc. (NASDAQ:AMGN) and Corvus Pharmaceuticals Inc (NASDAQ:CRVS), as well as utilities stock Exelon Corporation (NYSE:EXC). Here's a quick roundup of today's bearish brokerage notes on shares of AMGN, CRVS, and EXC.

Downgrade Follows Amgen Stock Struggles

AMGN is off 0.6% at $163.37 this morning, after Jefferies downgraded its rating to "hold" from "buy," and lowered its target price to $180 from $194. The stock has struggled since topping out on March 15 at $184.21 -- in no small part due to concerns over cholesterol drug Repatha. Yet, options traders are holding out hope for Amgen, Inc. shares. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), AMGN's 10-day call/put volume ratio of 1.69 sits in the top quartile of its annual range.

Corvus Met With Skepticism After Panning Record Low

Following yesterday's drug data-induced plunge to a record low of $8.27, CRVS was hit with negative analyst attention. Specifically, Credit Suisse slashed its price target to $17 from $26. Additional bearish notes could be just around the corner for Corvus Pharmaceuticals Inc. After all, all five analysts tracking the stock rate it a "buy" or better, while the consensus 12-month price target of $23 is double CRVS' current perch. At last check, the shares were up 10% at $11.40. 

Exelon Hit With Rare Downgrade

Wells Fargo downgraded EXC to "market perform" from "outperform." Technically speaking, the stock rallied sharply off its November lows south of $30, but has since been consolidating in the $35-$36.50 range, last seen 0.9% lower at $35.83. Wall Street remains bullishly aligned toward Exelon Corporation, today notwithstanding. In fact, 70% of tracking analysts have dished out a "strong buy" rating, while not a single one considers EXC stock a "sell."

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!

 

 
 
 


 
 

Rainmaker Ads CGI