Notable Downgrades: Infoblox (BLOX), GameStop (GME), Brocade Communications (BRCD), Potash Corp. (POT), Aduro BioTech (ADRO)

Infoblox Inc. (BLOX) was downgraded from ‘Hold’ to ‘Sell’ and the price target was cut to $13 from $20 at Deutsche Bank. BLOX lost 1.76 to $13.99 in mid-day trading today. Approximately 2.98M shares have already changed hands, compared to the stock’s average daily volume of 810.22K shares.
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Analysts at Oppenheimer downgraded GameStop Corp. (GME) from ‘Outperform’ to ‘Perform’ in a research report issued to clients on Tuesday. GME, currently with a median Wall Street price target of $52.00 and a high target of $60.00, rose $0.04 to $37.65 in recent trading.
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JP Morgan reported on Tuesday that they have lowered their rating for Brocade Communications Systems, Inc. (BRCD). The firm has downgraded BRCD from ‘Overweight’ to ‘Neutral’. BRCD recently traded at $9.27, a loss of $0.82 over Monday’s closing price. The name has a current market capitalization of $3.84 billion.
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Potash Corporation of Saskatchewan Inc. (POT) was reiterated a ‘Market Perform’ by Cowen analysts on Tuesday. The broker also cut its price target on the stock to $20 from $24. POT gained 0.06 to $19.76 in mid-day trading today. Approximately 3.19M shares have already changed hands, compared to the stock’s average daily volume of 7.02M shares.
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Aduro BioTech, Inc. (ADRO) rating of ‘Buy’ was reiterated today at ROTH Capital with a price target decrease of $68 from $74 (versus a $32.23 previous close). ADRO’s shares have advanced 33.51% in the last 4 weeks and 79.85% in the past three months. Over the past 5 trading sessions the stock has gained 16.65%. Shares of Aduro BioTech, Inc. are down 23.26% this year. Stock lost 4.63 to $27.60 in mid-day trading today. Approximately 2.32M shares have already changed hands, compared to the stock’s average daily volume of 275.02K shares.

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