Apple, Incyte, Sangamo Therapeutics Upgraded

Apple, Incyte, and Sangamo Therapeutics are in brokerages' bullish limelight today

May 16, 2017 at 9:33 AM
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Analysts are weighing in on iPhone maker Apple Inc. (NASDAQ:AAPL), as well as biotechs Incyte Corporation (NASDAQ:INCY) and Sangamo Therapeutics Inc (NASDAQ:SGMO). Here's a quick roundup of today's bullish brokerage notes on shares of AAPL, INCY, and SGMO.

Canaccord Genuity Sees New Highs for AAPL Stock

After hitting a record high of $156.65 yesterday and closing at $155.70, AAPL stock is signaling a positive start today -- up 0.2% in electronic trading. Boosting Apple shares is a price-target hike to $180 from $165 at Canaccord Genuity, a nearly 16% premium to current trading levels. Apple stock's been a standout in 2017, up more than 34%. AAPL options traders have been eyeing more gains, too. The stock's May 157.50 call was most active on Monday, and it looks like new positions were purchased. In other words, the call buyers expect AAPL to rally north of the strike by week's end, when the front-month options expire. 

BMO Sees Upside for INCY Stock After Cancer Treatment Updates

Incyte is slated to unveil abstracts on its epacadostat and Keytruda cancer treatments at the BofA-Merill Lynch Healthcare Conference Wednesday, which BMO Capital thinks will be a "positive catalyst." Specifically, the brokerage firm reiterated its "outperform" rating and $146 price target. The stock has struggled since hitting a record high of $153.15 on March 15, down 23% at $117.35. Most analysts remain upbeat toward Incyte shares, though. Of the 16 providing coverage, 13 maintain a "buy" or better rating, with not a single "sell" to be found.

SGMO Stock Higher After FDA Nod

Since its May 10 close at $4.35, SGMO stock has surged more than 93%. After closing last night at $8.40, Sangamo Therapeutics shares are up 1.2% in electronic trading --poised to hit a fresh annual high out of the gate. Today, the stock is reacting to news the Food and Drug Administration (FDA) has given Sangamo's SB-525 investigational hemophilia A gene therapy treatment fast-track status. Additionally, Wedbush raised its price target on SGMO shares to $6 from $4. SGMO options traders have been climbing on board for the ride. Open interest on SGMO is docked at the top of its annual range, with 24,821 calls and 8,942 puts currently open.

 

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