Tailored Brands stock is sinking after earnings
Analysts are weighing in on biotech stock Juno Therapeutics (NASDAQ:JUNO), apparel retailer Tailored Brands Inc (NYSE:TLRD), and automotive supplier Lear Corporation (NYSE:LEA). Here's a quick roundup of today's bearish brokerage notes on shares of JUNO, TLRD, and LEA.
JUNO Stock Cut to "Sell"
BTIG downgraded Juno Therapeutics stock to "sell" from "neutral," sending JUNO shares down 4.8% to trade at $22.58. Still, the shares remain in their channel of higher lows from late 2016, boasting a year-to-date lead of 19%. At the same time, JUNO stock may need to pick up the pace to avoid additional price-target cuts, since its average 12-month price target stands up at $29.50. On the fundamental front, Juno Therapeutics will present at Goldman Sachs' healthcare conference on Tuesday, June 13.
TLRD Stock Dips After Earnings
Tailored Brands reported weaker-than-expected first-quarter earnings, prompting analysts at Deutsche Bank to cut their price target by 33% to $14. In addition, Jefferies trimmed its price target by $2 to $12. The shares have dropped 2.9% to trade at $10.89, as they continue to underperform, though the move pales in comparison to what TLRD options traders were expecting. Tailored Brands stock was trading near $29 back in December; interestingly, it appears a number of short sellers cashed out too soon. During the last reporting period, short interest on TLRD stock declined by 12.2%.
LEA Stock Sinks After Downgrade
Lear Corporation stock is down 2.3% at $149.41, after Morgan Stanley downgraded the shares to "underweight" from "equal weight," and slashed its price target to $134 from $149. LEA stock's uptrend is still in place, however, as it's added almost 27% in the past 12 months, hitting a record high of $153.28 on June 2. Short-term options traders are seemingly well positioned for today's pullback. This is according to Lear's Schaeffer's put/call open interest ratio (SOIR) of 1.14, which ranks in the 83rd annual percentile. This means short-term options traders are more put-skewed than normal.