Markets closed lower once again on Wednesday, with the S&P finishing the day off .65% and is now down 6 of the past 7 sessions. Asia markets closed mostly lower overnight while Europe stocks are in the red this morning. U.S. futures are pointing to a slightly lower open, the Dollar and Oil are higher while Yields and Gold are lower.
YEXT reported earnings after the close that bested estimates but issued a mixed bag when it came to guidance. The reaction seemed somewhat positive and the stock held its ground in the after hour session. Think this could be the trough in the earnings and things will start to accelerate in the coming weeks and months putting the stock into the mid to high $20s. The APril calls will likely open flat or in the red. I will likely hold my calls through today at least.
ROKU soared passed $70 yesterday on two upgrades. I locked some of my April calls in to cover costs and take some risk off. The stock will continue to be volatile and did not want to see profits disappear. Will likely hold my calls for the foreseeable future or unless the stock breaks $65 or so:
I will be out most of the day today and SSYS earnings are not out as I write this, but hoping for a strong report.
| Ascendis Pharma price target raised to $217 from $81 at Wedbush | |
| Wedbush analyst Liana Moussatos raised her price target for Ascendis Pharma to $217 from $81 to her acquisition price following "impressive" topline results from the pivotal Phase 3 heiGHt trial testing TransCon hGH for treatment of pediatric growth hormone deficiency. The analyst believes the results not only validates Ascendis proprietary TransCon technology and its ability to create best-in-class clinical profiles but may also lead to Ascendis' acquisition if fliGHt results in Q2 achieve at least non-inferiority. Moussatos reiterates an Outperform rating on the shares | |
| Allergan price target lowered to $200 from $245 at JPMorgan | |
| JPMorgan analyst Chris Schott lowered his price target for Allergan to $200 after the company announced that rapastinel, its Phase 3 adjunctive depression treatment, did not meet its primary and secondary endpoints across all studies. The miss is "highly disappointing," although not altogether surprising post the 13% selloff following the Q4 results, Schott tells investors in a research note partially titled " Have We Found A Bottom Yet?" Rapastinel represented Allergan's most important and visible pipeline asset, says the analyst, who had forecast ~$1B in risk-adjusted peak sales. Schott, however, continues to see Allergan as "highly inexpensive." The analyst admits there are few near-term product catalysts for the story, but believes Allergan's valuation does not reflect its core portfolio of "durable, cash-pay aesthetics assets." As such, he keeps an Overweight rating on the name | |
| Green Dot offering 'real buying opportunity', says Loop Capital | |
| Loop Capital analyst Joseph Vafi kept his Buy rating and $100 price target on Green Dot, saying the "material price decline" of the stock since reporting Q4 results in unwarranted. The analyst sees the company's tax business, which is "off to a slow start" this year, as a "cash cow" rather than a "growth driver". Vafi further notes that if investors' concern about the "tough P&L comps" after material acceleration in earnings last year is the "worst thing going on", than the stock may be offering a "real buying opportunity for the first time in a year | |
| Logitech operating margin outlook raise earlier than expected, says Loop Capital | |
| Loop Capital analyst Ananda Baruah kept his Buy rating and $53 price target on Logitech after its "very attractive update" during the company's Analyst Day. The analyst notes that the management typically guides conservatively, but sees its operating income growth forecast implying EPS approaching $2.50-$3.00 in FY21, which exceeds consensus of $2.24. Baruah adds Logitech has raised its long term operating margin target range to 11%-14% from 10%-12% in spite of prioritizing revenue growth, suggesting that the margin expansion is occurring as its growth strategy tracks ahead of schedul | |
Keeping things small this week but still looking for opprotunities to play calls in SMAR, TITN, and IRBT(especially with yesterdays pullback).
Lets' have a Great Day!
-JB