Lam Research, Intuitive Surgical, Ultragenyx Upgraded

Lam Research, Intuitive Surgical, and Ultragenyx stocks are on analysts' bullish radar today

Apr 19, 2017 at 9:21 AM
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Analysts are weighing in on wafer fabrication firm Lam Research Corporation (NASDAQ:LRCX), da Vinci maker Intuitive Surgical, Inc. (NASDAQ:ISRG), and drug stock Ultragenyx Pharmaceutical Inc (NASDAQ:RARE). Here's a quick roundup of today's bullish brokerage notes on shares of LRCX, ISRG, and RARE.

Strong Lam Research Earnings Inspires PT Hikes

Following an earnings beat, LRCX received at least five price-target hikes. Pacific Crest set the bar highest, at $180 -- in uncharted territory for the shares. Ahead of the opening bell, Lam Research Corporation stock is 4.8% higher, after settling yesterday at $127.43 -- on a 55.3% year-over-year gain. Today's positive analyst attention is more of the same for the outperforming shares. Specifically, 13 of 14 analysts rate LRCX stock a "buy" or better, without a single "sell" opinion on the books.

Intuitive Surgical Stock Set to Surge on Earnings, Bullish Attention

ISRG is pointed nearly 4% higher in electronic trading, boosted by better-than-expected earnings and an upwardly revised 2017 procedure growth forecast. No fewer than eight analysts responded with price-target hikes, including Evercore ISI -- which raised its outlook to $785, explaining, "Procedure growth of about 18 percent was one of the strongest we have seen so far." After settling yesterday at $759.34, Intuitive Surgical, Inc. stock could open at a record high. Short-covering activity could add fuel to the shares' fire, as well. Specifically, 7.5% of ISRG's float is sold short, which would take almost two weeks to cover, at the stock's average daily trading pace.

Ultragenyx Stock Buoyed by Drug Data

RARE delivered positive data on its burosumab trial, with the drug improving serum phosphorus levels and stiffness. In response, SunTrust Robinson and Leerink raised their respective price targets to $105 and $93 -- both in annual-high territory. However, Wedbush and H.C. Wainwright reduced their ratings to "neutral," and lowered their respective price targets to $75 and $72. On the charts, Ultragenyx Pharmaceutical Inc shares ended yesterday at $60.08 -- having fallen off since their March highs north of $90 -- but are poised to pop about 10% at the opening bell. Options traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) could get burned, as they've bought to open three times as many puts as calls during the past two weeks.


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