Tesla Motors, Inc. (TSLA) is one of today’s notable movers, up as much as 12 points, or 4.85 percent, at $242.13. The name is rallying despite a report published Thursday by analysts at Bank of America (BAC). The firm warns the high-end electric car maker shares strength in aftermarket trading is unsustainable and reiterates its ‘Underperform’ rating and $75 price target. BofA also noted in its report, among other things, the fact that Tesla’s Q3 deliveries and revenues were below forecasts, and that cash flow burn has no end in sight. Separately, JPMorgan (JPM) also came out with a report this morning, saying the “multiple operational difficulties” in Tesla’s Q3 results highlight the company’s “underappreciated execution risk.” JPM is keeping a ‘Neutral’ rating on the name with a $190 price target.
Tesla shares are trading at unusually high volume Thursday with 12.2M shares changing hands. It is currently at 2X its average daily volume.
The stock is up more than 30.63% year-over-year, and has gained roughly 53.54% year-to-date. In the past 12 months, shares of Palo Alto, California-based company have traded between a low of $116.10 and a high of $291.42. Ticker is off about 17% from its Sept. 4, $291.42 all-time high.
Tesla Motors, which closed Wednesday at $230.97, has a total market cap of $30.15B.
In afternoon trading on Thursday, Aegerion Pharmaceuticals, Inc. (AEGR) shares are changing hands at $22.47 a share. The name jumped more than 10% to $22.46 in early trading after the company announced that it has entered into a definitive agreement with AstraZeneca (AZN) to acquire Myalept, an orphan product that is indicated to treat complications of leptin deficiency in patients with generalized lipodystrophy. Under the terms of the agreement, Aegerion will pay AstraZeneca $325 million upfront to acquire the global rights to develop, manufacture and commercialize Myalept.
Myalept is the first and only product approved in the US for the treatment of generalized lipodystrophy.
On valuation-measures, shares of Aegerion Pharmaceuticals have a forward P/E of 68.15. P/E to growth ratio is (0.02), while t-12 profit margin is (34.40%). EPS registers at ($1.54). The company has a market cap of $651.00M and a median Wall Street price target of $25.50.
AEGR currently prints a one year loss of about 75.45%, and a year-to-date loss of around 71.36%. In the past 52 weeks, shares of Cambridge, Massachusetts-based biopharmaceutical company have traded between a low of $19.10 and a high of $83.93 with the 50-day MA and 200-day MA located at $31.36 and $32.63 levels, respectively.
AAC Holdings, Inc. (AAC) is a big mover this session, as its shares are up nearly 11%. The surge came after the company said Q3 revenues increased 29% year-over-year to $36.6M, beating consensus of $30.4M. EPS came in at $0.08 compared to $0.03 in prior year.
Michael Cartwright, Chairman and CEO of AAC Holdings, noted, “This strong performance in our first quarter as a public company is a direct result of a commitment throughout the company to clinical excellence and a passion for treating clients and their families dealing with addiction, as well as continued execution of our de novo growth strategy…”
AAC Holdings, Inc is a Brentwood, Tennessee-based substance abuse treatment services provider. Its stock has a median consensus analyst price target of $27.50 with a high target of $28.00, and a 52-week trading range of $17.60 to $26.40.
AAC has market cap of $585.37M.
Rada Electronic Industries Ltd. (RADA) has been a solid gainer in mid-day trading, up more than 13% to $2.83 from Wednesday’s close of $2.50. Not seeing any news to account for the move.
Rada’s shares have declined 2.72% in the last 4 weeks however, the name has advanced 68.92% in the past three months, and 14.68% over the past 5 trading sessions. Shares of RADA are up 64% this year, and 85.52% year-to-date.
RADA Electronic Industries is a defense electronics contractor. The company was founded in 1970 and is headquartered in Netanya, Israel.