Notable Downgrades: Verastem (VSTM), TD Ameritrade (AMTD), SanDisk (SNDK), Micron (MU), BlackBerry (BBRY)

Analysts at ROTH Capital downgraded Verastem, Inc. (VSTM) from ‘Buy’ to ‘Neutral’ in a research report issued to clients on Monday.

The target price for VSTM is lowered from $23 to $2. The 91% cut came after the biopharmaceutical company halted the study of its experimental cancer therapy after studies showed that the treatment was not effective enough to warrant further studies.

Shares of the $57.93 million market cap company are down 36.00% year-over-year and 37.96% year-to-date.

Verastem Inc., currently with a median Wall Street price target of $19.50 and a high target of $23.00, dropped $4.11 to $1.56 in recent trading.

TD Ameritrade Holding Corporation (AMTD) was downgraded from ‘Outperform’ to ‘Market Perform’ at Wells Fargo (WFC).

Shares have traded today between $30.75 and $32.02 with the price of the stock fluctuating between $28.34 to $39.05 over the last 52 weeks.

TD Ameritrade Holding Corp. shares are currently changing hands at 20.93x this year’s forecasted earnings, compared to the industry’s 0.45x earnings multiple. Ticker has a t-12 price/sales ratio of 5.55. EPS for the same period registers at $1.47.

Shares of AMTD have lost $1.68 to $30.76 in mid-day trading on Monday, giving it a market cap of $16.71 billion. The stock traded as high as $39.05 in June 5, 2015.

SanDisk Corp. (SNDK) was reiterated a ‘Market Perform’ by Cowen analysts on Monday. The broker also cut its price target on the stock to $58 from $70.

SNDK shares recently lost $2.28 to $48.58. The stock is down more than 46% year-over-year and has lost roughly 47% year-to-date. In the past 52 weeks, shares of Milpitas, Calif.-based company have traded between a low of $44.28 and a high of $106.64.

SanDisk Corp. closed Friday at $50.86.The name has a current market cap of $9.93 billion.

Micron Technology, Inc. (MU) was reiterated as ‘Market Perform’ with a $25 from $28 price target on Monday by Cowen.

MU shares recently lost $0.90 to $14.01. Over the past year, shares of Boise, Idaho-based semiconductor solutions provider have traded between a low of $13.50 and a high of $36.59.

Shares are down 57.41% since the beginning of the year.

BlackBerry Limited (BBRY) rating of ‘Neutral’ was reiterated today at UBS with a price target decrease of $7.50 from $10 (versus a $6.49 previous close).

BlackBerry Limited, currently valued at $3.25 billion, has a median Wall Street price target of $9.00 with a high target of $14.00. Approximately 8.12 million shares have already changed hands, compared to the stock’s average daily volume of 7.37 million.

In the past 52 weeks, shares of the smartphone maker have traded between a low of $6.14 and a high of $12.63 with the 50-day MA and 200-day MA located at $7.36 and $8.73 levels, respectively. Additionally, shares of BBRY trade at a P/E ratio of 3.70 and have a Relative Strength Index (RSI) and MACD indicator of 24.23 and -0.66, respectively.

BBRY currently prints a one year loss of about 34% and a year-to-date loss of around 41%.

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.