Notable Upgrades: Esperion Therapeutics (ESPR), Rentrak (RENT), The Madison Square Garden Co. (MSG), Analog Devices (ADI), Valeant (VRX)

Analysts at Chardan Capital Markets are out with a report this morning upgrading shares of Esperion Therapeutics, Inc. (ESPR) with a ‘Neutral’ from ‘Sell’ rating. The firm however, lowered its price target for the company to $18 from $29.

In the past 52 weeks, shares of Ann Arbor, Michigan-based biopharmaceutical company have traded between a low of $18 and a high of $120.96 and are now at $20.55.

Shares are down 18.02% year-over-year and 54.67% year-to-date.

Analysts at Albert Fried upgraded their rating on the shares of Rentrak Corporation (RENT). In a research note published on Wednesday, the firm lifted the name with a ‘Market Perform’ from ‘Underweight’ rating.

On valuation measures, Rentrak Corp. shares are currently priced at 1,405.79x this year’s forecasted earnings, compared to the industry’s 28.35x earnings multiple. Ticker has a PEG and forward P/E ratio of 0.73 and 40.48, respectively. Price/Sales for the same period is 6.16 while EPS is $0.04. Currently there are 5 analysts that rate RENT a ‘Buy’, 2 rate it a ‘Hold’. 1 analyst rates it a ‘Sell’. Rentrak has a median Wall Street price target of $75 with a high target of $100.

The Madison Square Garden Company (MSG) was raised to ‘Buy’ from ‘Hold’ and it was given $190 price target at Stifel on Wednesday.

MSG is up $3.20 at $72.00 on heavy volume. Midway through trading Wednesday 600K shares of Madison Square Garden Co. have exchanged hands, as compared to its average daily volume of 617K shares. The stock has ranged in a price between $70.04 to $73.13 after having opened the day at $70.65 as compared to the previous trading day’s close of $68.80.

In the past 52 weeks, shares of New York-based company have traded between a low of $58.56 and a high of $87.27.

Shares are down 8.58% since the beginning of year.

Analog Devices, Inc. (ADI) was upgraded to ‘Buy’ from ‘Neutral’ by Citigroup (C) analysts on Wednesday.

ADI is currently printing a normal average trading volume with the issue trading 1.66 million shares, compared to the average volume of 3.58 million. The stock began trading this morning at $55.22 to currently trade 3.72% higher from the prior days close of $54.05. On an intraday basis it has gotten as low as $54.83 and as high as $56.29.

Analog Devices Inc. shares are priced at 25.15x this year’s forecasted earnings, compared to the industry’s 12.17x earnings multiple. The company’s current year and next year EPS growth estimates stand at 23.80% and 13.20%, compared to the industry growth rates of 7.20% and 23.70%, respectively. ADI has a t-12 price-to-sales ratio of 5.18. EPS for the same period registers at $2.23.

Analog Devices shares have declined 4.25% in the last 4 weeks and 15.13% in the past three months. Over the past 5 trading sessions the stock has lost 2.05%. The Norwood, Massachusetts-based company, which is currently valued at $17.58 billion, has a median Wall Street price target of $67.00 with a high target of $75.00.

Analog Devices Inc. is up 11.53% year-over-year, compared with a 4.47% loss in the S&P 500.

In a report published Wednesday, BofA/Merrill (BAC) analysts initiated coverage on Valeant Pharmaceuticals International, Inc. (VRX) with a ‘Buy’ rating.

VRX shares recently gained $15.49 to $173.57. Over the past year, shares of Laval, Canada-based developer of over-the-counter products, and medical devices worldwide have traded between a low of $111.41 and a high of $263.81.

Shares are up 21.36% year-over-year and 10.46% year-to-date.

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