Benzinga's Top Ratings Upgrades, Downgrades For August 8, 2023
Upgrades
JP Morgan upgraded the previous rating for Telephone and Data Systems Inc (NYSE:TDS) from Neutral to Overweight. For the second quarter, Telephone and Data had an EPS of $0.17, compared to year-ago quarter EPS of $0.15. The stock has a 52-week-high of $17.41 and a 52-week-low of $6.43. At the end of the last trading period, Telephone and Data closed at $13.20.
JP Morgan upgraded the previous rating for United States Cellular Corp (NYSE:USM) from Neutral to Overweight. United States Cellular earned $0.05 in the second quarter, compared to $0.25 in the year-ago quarter. At the moment, the stock has a 52-week-high of $35.00 and a 52-week-low of $13.79. United States Cellular closed at $31.26 at the end of the last trading period.
Truist Securities upgraded the previous rating for DraftKings Inc (NASDAQ:DKNG) from Hold to Buy. DraftKings earned $0.14 in the second quarter, compared to $0.29 in the year-ago quarter. The stock has a 52-week-high of $34.49 and a 52-week-low of $10.70. At the end of the last trading period, DraftKings closed at $31.63.
B of A Securities upgraded the previous rating for Axsome Therapeutics Inc (NASDAQ:AXSM) from Underperform to Neutral. In the second quarter, Axsome Therapeutics showed an EPS of $1.54, compared to $1.06 from the year-ago quarter. The stock has a 52-week-high of $91.29 and a 52-week-low of $38.39. At the end of the last trading period, Axsome Therapeutics closed at $71.09.
CLSA upgraded the previous rating for XPeng Inc (NYSE:XPEV) from Outperform to Buy. XPeng earned $0.37 in the first quarter, compared to $0.28 in the year-ago quarter. The current stock performance of XPeng shows a 52-week-high of $25.90 and a 52-week-low of $6.18. Moreover, at the end of the last trading period, the closing price was at $18.70.
For Vericel Corp (NASDAQ:VCEL), BTIG upgraded the previous rating of Neutral to Buy. For the second quarter, Vericel had an EPS of $0.11, compared to year-ago quarter EPS of $0.19. The stock has a 52-week-high of $39.90 and a 52-week-low of $17.32. At the end of the last trading period, Vericel closed at $31.90.
Credit Suisse upgraded the previous rating for Tronox Holdings PLC (NYSE:TROX) from Underperform to Neutral. In the second quarter, Tronox Holdings showed an EPS of $0.16, compared to $0.84 from the year-ago quarter. The stock has a 52-week-high of $17.61 and a 52-week-low of $10.58. At the end of the last trading period, Tronox Holdings closed at $12.99.
According to Piper Sandler, the prior rating for NovoCure Ltd (NASDAQ:NVCR) was changed from Neutral to Overweight. NovoCure earned $0.54 in the second quarter, compared to $0.23 in the year-ago quarter. The current stock performance of NovoCure shows a 52-week-high of $120.03 and a 52-week-low of $26.68. Moreover, at the end of the last trading period, the closing price was at $26.92.
According to Goldman Sachs, the prior rating for Paymentus Holdings Inc (NYSE:PAY) was changed from Sell to Neutral. Paymentus Holdings earned $0.08 in the second quarter, compared to $0.00 in the year-ago quarter. The current stock performance of Paymentus Holdings shows a 52-week-high of $13.16 and a 52-week-low of $6.85. Moreover, at the end of the last trading period, the closing price was at $10.70.
According to Piper Sandler, the prior rating for Axsome Therapeutics Inc (NASDAQ:AXSM) was changed from Neutral to Overweight. In the second quarter, Axsome Therapeutics showed an EPS of $1.54, compared to $1.06 from the year-ago quarter. At the moment, the stock has a 52-week-high of $91.29 and a 52-week-low of $38.39. Axsome Therapeutics closed at $71.09 at the end of the last trading period.
See all analyst ratings upgrades.
Downgrades
According to Craig-Hallum, the prior rating for RingCentral Inc (NYSE:RNG) was changed from Buy to Hold. For the second quarter, RingCentral had an EPS of $0.83, compared to year-ago quarter EPS of $0.45. At the moment, the stock has a 52-week-high of $54.75 and a 52-week-low of $25.32. RingCentral closed at $38.98 at the end of the last trading period.
Goldman Sachs downgraded the previous rating for Sage Therapeutics Inc (NASDAQ:SAGE) from Buy to Neutral. In the second quarter, Sage Therapeutics showed an EPS of $2.68, compared to $2.13 from the year-ago quarter. The stock has a 52-week-high of $59.99 and a 52-week-low of $16.52. At the end of the last trading period, Sage Therapeutics closed at $16.75.
Stephens & Co. downgraded the previous rating for Sovos Brands Inc (NASDAQ:SOVO) from Overweight to Equal-Weight. Sovos Brands earned $0.18 in the first quarter, compared to $0.14 in the year-ago quarter. The stock has a 52-week-high of $22.63 and a 52-week-low of $12.74. At the end of the last trading period, Sovos Brands closed at $22.56.
According to B of A Securities, the prior rating for Kilroy Realty Corp (NYSE:KRC) was changed from Buy to Neutral. In the second quarter, Kilroy Realty showed an EPS of $1.19, compared to $1.17 from the year-ago quarter. The current stock performance of Kilroy Realty shows a 52-week-high of $54.30 and a 52-week-low of $25.99. Moreover, at the end of the last trading period, the closing price was at $38.09.
B of A Securities downgraded the previous rating for Douglas Emmett Inc (NYSE:DEI) from Neutral to Underperform. In the second quarter, Douglas Emmett showed an EPS of $0.48, compared to $0.51 from the year-ago quarter. The stock has a 52-week-high of $22.98 and a 52-week-low of $10.09. At the end of the last trading period, Douglas Emmett closed at $14.63.
For FibroGen Inc (NASDAQ:FGEN), B of A Securities downgraded the previous rating of Neutral to Underperform. For the second quarter, FibroGen had an EPS of $0.90, compared to year-ago quarter EPS of $0.78. At the moment, the stock has a 52-week-high of $25.69 and a 52-week-low of $1.75. FibroGen closed at $1.77 at the end of the last trading period.
Loop Capital downgraded the previous rating for Alteryx Inc (NYSE:AYX) from Buy to Hold. For the second quarter, Alteryx had an EPS of $0.37, compared to year-ago quarter EPS of $0.46. The current stock performance of Alteryx shows a 52-week-high of $70.63 and a 52-week-low of $34.70. Moreover, at the end of the last trading period, the closing price was at $37.62.
According to Wedbush, the prior rating for Chinook Therapeutics Inc (NASDAQ:KDNY) was changed from Outperform to Neutral. Chinook Therapeutics earned $0.85 in the first quarter, compared to $0.54 in the year-ago quarter. The stock has a 52-week-high of $40.47 and a 52-week-low of $18.34. At the end of the last trading period, Chinook Therapeutics closed at $40.35.
According to BTIG, the prior rating for Proterra Inc (NASDAQ:PTRA) was changed from Buy to Neutral. Proterra earned $0.29 in the first quarter, compared to $0.43 in the year-ago quarter. The current stock performance of Proterra shows a 52-week-high of $7.71 and a 52-week-low of $0.91. Moreover, at the end of the last trading period, the closing price was at $1.43.
According to Canaccord Genuity, the prior rating for Sage Therapeutics Inc (NASDAQ:SAGE) was changed from Buy to Hold. For the second quarter, Sage Therapeutics had an EPS of $2.68, compared to year-ago quarter EPS of $2.13. The stock has a 52-week-high of $59.99 and a 52-week-low of $16.52. At the end of the last trading period, Sage Therapeutics closed at $16.75.
According to Needham, the prior rating for Sage Therapeutics Inc (NASDAQ:SAGE) was changed from Buy to Hold. For the second quarter, Sage Therapeutics had an EPS of $2.68, compared to year-ago quarter EPS of $2.13. The stock has a 52-week-high of $59.99 and a 52-week-low of $16.52. At the end of the last trading period, Sage Therapeutics closed at $16.75.
BMO Capital downgraded the previous rating for Willis Towers Watson PLC (NASDAQ:WTW) from Market Perform to Underperform. For the second quarter, Willis Towers Watson had an EPS of $2.05, compared to year-ago quarter EPS of $2.32. The current stock performance of Willis Towers Watson shows a 52-week-high of $258.93 and a 52-week-low of $197.50. Moreover, at the end of the last trading period, the closing price was at $211.60.
According to Jefferies, the prior rating for Enanta Pharmaceuticals Inc (NASDAQ:ENTA) was changed from Buy to Hold. Enanta Pharma earned $1.86 in the third quarter, compared to $1.53 in the year-ago quarter. The stock has a 52-week-high of $75.73 and a 52-week-low of $17.93. At the end of the last trading period, Enanta Pharma closed at $19.34.
Stifel downgraded the previous rating for International Flavors & Fragrances Inc (NYSE:IFF) from Buy to Hold. In the second quarter, Intl Flavors & Fragrances showed an EPS of $0.86, compared to $1.54 from the year-ago quarter. The current stock performance of Intl Flavors & Fragrances shows a 52-week-high of $129.17 and a 52-week-low of $75.18. Moreover, at the end of the last trading period, the closing price was at $80.34.
JP Morgan downgraded the previous rating for Freshpet Inc (NASDAQ:FRPT) from Overweight to Neutral. Freshpet earned $0.35 in the second quarter, compared to $0.45 in the year-ago quarter. The stock has a 52-week-high of $84.70 and a 52-week-low of $36.13. At the end of the last trading period, Freshpet closed at $82.25.
JP Morgan downgraded the previous rating for Westlake Corp (NYSE:WLK) from Neutral to Underweight. Westlake earned $2.31 in the second quarter, compared to $6.60 in the year-ago quarter. The stock has a 52-week-high of $138.39 and a 52-week-low of $81.39. At the end of the last trading period, Westlake closed at $133.95.
For Inogen Inc (NASDAQ:INGN), JP Morgan downgraded the previous rating of Neutral to Underweight. In the second quarter, Inogen showed an EPS of $0.25, compared to $0.02 from the year-ago quarter. The stock has a 52-week-high of $32.01 and a 52-week-low of $7.35. At the end of the last trading period, Inogen closed at $7.50.
For National Storage Affiliates Trust (NYSE:NSA), Stifel downgraded the previous rating of Buy to Hold. For the second quarter, National Storage had an EPS of $0.68, compared to year-ago quarter EPS of $0.71. The current stock performance of National Storage shows a 52-week-high of $58.10 and a 52-week-low of $32.15. Moreover, at the end of the last trading period, the closing price was at $32.95.
According to JMP Securities, the prior rating for UWM Holdings Corp (NYSE:UWMC) was changed from Market Outperform to Market Perform. In the first quarter, UWM Hldgs showed an EPS of $0.07, compared to $0.22 from the year-ago quarter. The stock has a 52-week-high of $6.90 and a 52-week-low of $2.85. At the end of the last trading period, UWM Hldgs closed at $6.84.
According to Telsey Advisory Group, the prior rating for Lowe's Companies Inc (NYSE:LOW) was changed from Outperform to Market Perform. In the first quarter, Lowe's Companies showed an EPS of $3.67, compared to $3.51 from the year-ago quarter. The stock has a 52-week-high of $237.21 and a 52-week-low of $176.62. At the end of the last trading period, Lowe's Companies closed at $223.30.
According to Telsey Advisory Group, the prior rating for The Home Depot Inc (NYSE:HD) was changed from Outperform to Market Perform. In the first quarter, Home Depot showed an EPS of $3.82, compared to $4.09 from the year-ago quarter. The current stock performance of Home Depot shows a 52-week-high of $346.95 and a 52-week-low of $265.63. Moreover, at the end of the last trading period, the closing price was at $329.17.
For Sovos Brands Inc (NASDAQ:SOVO), William Blair downgraded the previous rating of Outperform to Market Perform. For the first quarter, Sovos Brands had an EPS of $0.18, compared to year-ago quarter EPS of $0.14. The current stock performance of Sovos Brands shows a 52-week-high of $22.63 and a 52-week-low of $12.74. Moreover, at the end of the last trading period, the closing price was at $22.56.
For Sovos Brands Inc (NASDAQ:SOVO), Stifel downgraded the previous rating of Buy to Hold. In the first quarter, Sovos Brands showed an EPS of $0.18, compared to $0.14 from the year-ago quarter. The current stock performance of Sovos Brands shows a 52-week-high of $22.63 and a 52-week-low of $12.74. Moreover, at the end of the last trading period, the closing price was at $22.56.
JP Morgan downgraded the previous rating for Sovos Brands Inc (NASDAQ:SOVO) from Overweight to Neutral. Sovos Brands earned $0.18 in the first quarter, compared to $0.14 in the year-ago quarter. The current stock performance of Sovos Brands shows a 52-week-high of $22.63 and a 52-week-low of $12.74. Moreover, at the end of the last trading period, the closing price was at $22.56.
For Alteryx Inc (NYSE:AYX), Piper Sandler downgraded the previous rating of Overweight to Neutral. In the second quarter, Alteryx showed an EPS of $0.37, compared to $0.46 from the year-ago quarter. At the moment, the stock has a 52-week-high of $70.63 and a 52-week-low of $34.70. Alteryx closed at $37.62 at the end of the last trading period.
According to Keybanc, the prior rating for Maravai LifeSciences Holdings Inc (NASDAQ:MRVI) was changed from Overweight to Sector Weight. In the second quarter, Maravai LifeSciences showed an EPS of $0.00, compared to $0.54 from the year-ago quarter. The current stock performance of Maravai LifeSciences shows a 52-week-high of $27.80 and a 52-week-low of $10.76. Moreover, at the end of the last trading period, the closing price was at $11.02.
For Sovos Brands Inc (NASDAQ:SOVO), Telsey Advisory Group downgraded the previous rating of Outperform to Market Perform. In the first quarter, Sovos Brands showed an EPS of $0.18, compared to $0.14 from the year-ago quarter. The current stock performance of Sovos Brands shows a 52-week-high of $22.63 and a 52-week-low of $12.74. Moreover, at the end of the last trading period, the closing price was at $22.56.
See all analyst ratings downgrades.
Initiations
For Sagimet Biosciences Inc (NASDAQ:SGMT), TD Cowen initiated coverage, by setting the current rating at Outperform. At the moment, the stock has a 52-week-high of $16.57 and a 52-week-low of $14.75. Sagimet Biosciences closed at $15.94 at the end of the last trading period.
For Apogee Therapeutics Inc (NASDAQ:APGE), TD Cowen initiated coverage, by setting the current rating at Outperform. The stock has a 52-week-high of $21.96 and a 52-week-low of $19.98. At the end of the last trading period, Apogee Therapeutics closed at $20.50.
SVB Leerink initiated coverage on Nuvalent Inc (NASDAQ:NUVL) with a Market Perform rating. The price target for Nuvalent is set to $42.00. In the first quarter, Nuvalent showed an EPS of $0.44, compared to $0.36 from the year-ago quarter. The current stock performance of Nuvalent shows a 52-week-high of $50.59 and a 52-week-low of $14.81. Moreover, at the end of the last trading period, the closing price was at $44.62.
With an Outperform rating, SVB Leerink initiated coverage on IDEAYA Biosciences Inc (NASDAQ:IDYA). The price target seems to have been set at $33.00 for IDEAYA Biosciences. For the first quarter, IDEAYA Biosciences had an EPS of $0.49, compared to year-ago quarter EPS of $0.36. The stock has a 52-week-high of $26.35 and a 52-week-low of $9.01. At the end of the last trading period, IDEAYA Biosciences closed at $21.53.
With a Market Perform rating, SVB Leerink initiated coverage on Exelixis Inc (NASDAQ:EXEL). The price target seems to have been set at $18.00 for Exelixis. Exelixis earned $0.31 in the second quarter, compared to $0.28 in the year-ago quarter. At the moment, the stock has a 52-week-high of $22.04 and a 52-week-low of $14.88. Exelixis closed at $20.25 at the end of the last trading period.
With an Outperform rating, Wedbush initiated coverage on Apogee Therapeutics Inc (NASDAQ:APGE). The price target seems to have been set at $40.00 for Apogee Therapeutics. The stock has a 52-week-high of $21.96 and a 52-week-low of $19.98. At the end of the last trading period, Apogee Therapeutics closed at $20.50.
With a Buy rating, HC Wainwright & Co. initiated coverage on NextCure Inc (NASDAQ:NXTC). The price target seems to have been set at $7.00 for NextCure. NextCure earned $0.64 in the second quarter, compared to $0.65 in the year-ago quarter. At the moment, the stock has a 52-week-high of $5.26 and a 52-week-low of $1.16. NextCure closed at $1.70 at the end of the last trading period.
With a Buy rating, Stifel initiated coverage on Apogee Therapeutics Inc (NASDAQ:APGE). The price target seems to have been set at $34.00 for Apogee Therapeutics. The stock has a 52-week-high of $21.96 and a 52-week-low of $19.98. At the end of the last trading period, Apogee Therapeutics closed at $20.50.
Jefferies initiated coverage on Apogee Therapeutics Inc (NASDAQ:APGE) with a Buy rating. The price target for Apogee Therapeutics is set to $29.00. The stock has a 52-week-high of $21.96 and a 52-week-low of $19.98. At the end of the last trading period, Apogee Therapeutics closed at $20.50.
Piper Sandler initiated coverage on Sagimet Biosciences Inc (NASDAQ:SGMT) with an Overweight rating. The price target for Sagimet Biosciences is set to $67.00. The current stock performance of Sagimet Biosciences shows a 52-week-high of $16.57 and a 52-week-low of $14.75. Moreover, at the end of the last trading period, the closing price was at $15.94.
With a Buy rating, Guggenheim initiated coverage on Apogee Therapeutics Inc (NASDAQ:APGE). The price target seems to have been set at $29.00 for Apogee Therapeutics. At the moment, the stock has a 52-week-high of $21.96 and a 52-week-low of $19.98. Apogee Therapeutics closed at $20.50 at the end of the last trading period.
JMP Securities initiated coverage on Sagimet Biosciences Inc (NASDAQ:SGMT) with a Market Outperform rating. The price target for Sagimet Biosciences is set to $30.00. The current stock performance of Sagimet Biosciences shows a 52-week-high of $16.57 and a 52-week-low of $14.75. Moreover, at the end of the last trading period, the closing price was at $15.94.
With a Buy rating, Goldman Sachs initiated coverage on Sagimet Biosciences Inc (NASDAQ:SGMT). The price target seems to have been set at $33.00 for Sagimet Biosciences. The stock has a 52-week-high of $16.57 and a 52-week-low of $14.75. At the end of the last trading period, Sagimet Biosciences closed at $15.94.
