Outlook Weighs on Pandora Stock; Regeneron Gets Downgraded

REGN stock is accustomed to bearish analyst attention

Aug 1, 2017 at 9:57 AM
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Analysts are weighing in on streaming music provider Pandora Media Inc (NYSE:P), healthcare stock Regeneron Pharmaceuticals Inc (NASDAQ:REGN), and retailer Foot Locker, Inc. (NYSE:FL). Here's a quick roundup of today's bearish brokerage notes on shares of P, REGN, and FL.

Pandora Stock Drops After Earnings

Pandora stock is in the red today following mixed quarterly results. The company reported better-than-expected revenue and adjusted earnings, but lowered its full-year outlook. No fewer than four brokerage firms have lowered their price targets as a result, with the lowest mark coming in at $10 from RBC. 

Looking back, P stock has shed over 32% year-to-date to trade at $8.94, touching an all-time low of $6.76 on June 19 and it's starting to catch the attention of short sellers. Specifically, short interest jumped 19.3% during the last two reporting periods, and these bears now control more than two weeks' worth of buying power, based on average daily volumes. 

REGN Stock Dips on REGN Downgrade

Regeneron Pharmaceuticals stock is down 2% at $481.32, following a downgrade to "underperform" at Baird. The shares are on pace to close below their 50-day moving average for the first time since April, but remain roughly 31% higher year-to-date. Despite this, it's not unusual to see bearish analyst attention on Regeneron. Of the 19 brokerage firms covering the equity, 11 rate it just a "hold." 

Bears Line Up for Foot Locker Stock

It's been a tough year for Foot Locker stock, with the shares dropping one-third of thier value to trade at $46.56, touching a three-year low of $44.59 on July 24. As such, Credit Suisse has lowered its price target to $52 from $66.

Options traders have also been showing bearish tendencies, with FL's 10-day put/call volume ratio of 1.96 ranking in the 78th annual percentile. In other words,put buying has been more popular than normal in recent weeks, relative to call buying. 

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