Akari Therapeutics PLC (NASDAQ: AKTX) was downgraded to Market Perform from Outperform at William Blair.
Arcadia Biosciences Inc. (NASDAQ: RKDA) was downgraded to Neutral from Overweight at Piper Jaffray, but this was only a $0.80 stock at Thursday’s close.
Bright Horizons Family Solutions Inc. (NYSE: BFAM) was downgraded to Neutral from Outperform at Credit Suisse.
Cornerstone OnDemand Inc. (NASDAQ: CSOD) was started with a Market Perform rating at Wells Fargo.
IMAX Corp. (NASDAQ: IMAX) was reiterated as Outperform with a $39 price target at Wedbush Securities.
Incyte Corp. (NASDAQ: INCY) was started with a Perform rating and $125 target at Oppenheimer, an unusual target since the firm does not often have targets for non-Outperform ratings. Incyte closed at down 1.5% at $118.22 on Thursday but this call deserved some extra attention because the consensus analyst target price is actually closer to $145 from the sell-side analyst community.
Oppenheimer’s rating for Incyte still has some upside to it, noting that Incyte has a rich pipeline of innovative small molecule assets on the market and in development for oncology and inflammatory diseases. The ‘Perform’ rating is based on the belief that there is a market premium in Incyte shares that has been driven by takeover speculation, which the firm admitted they have no insight into over the near term. The report also talked up high expectations going into ASCO for Incyte’s epacadostat to deliver impressive benefits in combination with Keytruda in lung cancer.
Orion Engineered Carbons S.A. (NYSE: OEC) was started with a Neutral rating at Goldman Sachs.
Paylocity Holding Corp. (NASDAQ: PCTY) was started with an Outperform rating at Wells Fargo.
Scorpio Tankers Inc. (NYSE: STNG) was raised to Buy from Underperform at Merrill Lynch. Scorpio shares were indicated up 6.9% at $4.49 on Friday morning.
Teladoc Inc. (NYSE: TDOC) was downgraded to Hold from Buy at Craig-Hallum. The stock was down 3.4% at $29.70 on Thursday and was indicated down another 1% at $29.40 on Friday.
Visteon Corp. (NYSE: VC) was raised to Overweight from Equal Weight at Morgan Stanley.
Willdan Group Inc. (NASDAQ: WLDN) was resumed with an Outperform rating and the target was raised to $40 from $35 (versus a $31.39 prior close) at Wedbush. This call noted that as energy efficiency related technologies continue to improve and displace traditional means of delivering energy, Willdan Group is a pure play on the increasing demand for professional, technical and consulting services for the utilities sector.
Merrill Lynch made some key changes in oil and gas ratings, including why Exxon Mobil and Noble could outperform other oil and gas giants.
While many retail stocks and same-store sales have been punished under the Amazon e-commerce onslaught, Jefferies has raised expectations and issued three companies it feels are insulated or immune to ongoing retail pressures.
Thursday’s top analyst calls included Caterpillar, Chesapeake Energy, Exxon Mobil, Snap, Symantec, Whole Foods, Yelp and many more.