AstraZeneca, Valeant, Mattel Downgraded

AstraZeneca, Valeant, and Mattel stocks received bearish analyst attention

Apr 21, 2017 at 9:58 AM
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Analysts are weighing in on drugmakers AstraZeneca plc (ADR) (NYSE:AZN) and Valeant Pharmaceuticals Intl Inc (NYSE:VRX), as well as toy stock Mattel, Inc. (NASDAQ:MAT). Here's a quick roundup of today's bearish brokerage notes on shares of AZN, VRX, and MAT.

AstraZeneca Stock Slips on Reduced Price Target

AZN saw its price target cut to 4,900P from 5,050P at Jefferies. Out of the gate, the stock is down 0.3% at $29.82, as its struggles since a late-March top near $32 continue. Things could get even more interesting for AstraZeneca plc next week, with the company due to report earnings early Thursday. One group that can't be happy with the shares' recent losses is options traders. During the past 50 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), AZN stock has amassed a call/put volume ratio of 12.17 -- just 7 percentage points from an annual peak.

Valeant Stock Hit With Another Bearish Note

For the second straight day, VRX stock is dealing with bearish attention from analysts. Specifically, Wells Fargo reiterated an "underperform" rating, and offered a valuation range of $7-$9 -- in line with where the shares are trading, down 0.5% at $8.84. Overall, Valeant Pharmaceuticals Intl Inc has had a horrid time on the charts, shedding three-quarters of its value year-over-year. This helps explain why nearly 46 million shares are sold short -- a lofty 15% of VRX's float. Separately, the drugmaker announced pricing information on plaque psoriasis treatment Siliq.

Mattel Earnings Pressure Stock to New Lows

MAT stock earlier sunk to an annual low of $22.72, and was last seen down 9.5% at $22.81, after a wider-than-expected first-quarter loss and gloomy full-year sales forecast. The downbeat earnings report provoked price-target cuts at no fewer than four analysts -- including SunTrust Robinson, which lowered its target to $25 from $28, explaining, "It could be at least another few quarters before we have any sense that the ship can begin to turn in 2017/2018." The sell-off is surely welcomed by short-term MAT options traders, who have favored puts over calls, relatively speaking. Mattel, Inc. sports a Schaeffer's put/call open interest ratio (SOIR) of 0.88, outstripping 88% of readings from the last 12 months.


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