Investment Analysts’ Downgrades for November, 14th (AKG, ALB, BGNE, CPRX, NEM, PHM, PRSC, PXLW, RCL, RDNT)
Asanko Gold (NYSEMKT:AKG) (TSE:AKG) was downgraded by analysts at UBS AG from an outperform rating to a market perform rating.
Albemarle Corporation (NYSE:ALB) was downgraded by analysts at Deutsche Bank AG from a buy rating to a hold rating.
Catalyst Pharmaceuticals (NASDAQ:CPRX) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Catalyst Pharma posted narrower than expected loss in the third quarter of 2017. Earlier in 2016, the company received a refusal to file letter from the FDA in connection with the NDA for Firdapse. The company suffered a setback when it received a refusal to file letter for Firdapse from the FDA. Nevertheless, the company expects to report top-line results from its second phase III study of Firdapse for the treatment of Lambert-Eaton myasthenic syndrome (LEMS) in early December 2017 and resubmit a new drug application (NDA) before the end of 2017. Catalyst has a limited number of candidates in its pipeline and is highly dependent on Firdapse’s approval for growth. Meanwhile, the company is also developing Firdapse for additional indications. The company’s share price movement shows that the stock has outperformed the industry year to date. “
Newmont Mining Corporation (NYSE:NEM) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Newmont reported a year-over-year increase in earnings and revenues for third-quarter 2017. Earnings and sales also beat the respective Zacks Consensus Estimate. Newmont’s shares have outperformed the industry it belongs to in the past six months. Newmont continues to invest in growth projects that are expected to boost its production performance. It also remains committed to de-lever its balance sheet. Moreover, the acquisition of CC&V represents a significant opportunity for the company. Improved operational efficiency is also allowing it to generate positive free cash flow. However, Newmont is exposed to a highly volatile gold price environment. It also faces headwinds from high production costs. The company's falling gold reserve base is another concern. Oversupply in the market also poses a threat on copper prices.”
PulteGroup (NYSE:PHM) was downgraded by analysts at Buckingham Research from a buy rating to a neutral rating.
The Providence Service Corporation (NASDAQ:PRSC) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Providence Service Corporation provides human services and non-emergency transportation (NET) management services to children, adolescents, young adults, and families. The Company focuses on providing its social services in the client’s home or in community-based settings. It provides its NET management services through local transportation providers. The company’s services are reimbursed by government programs such as welfare, juvenile justice, Medicaid or corrections. Providence Service Corporation is based in Tucson, Arizona. “
Pixelworks (NASDAQ:PXLW) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Pixelworks Inc. design, develop and market semiconductors and software that enable the visual display of broadband content through a wide variety of electronic devices. Broadband content includes video, computer graphics and visual Web information delivered at high speeds via cable and telecommunications lines to the homes and offices. The semiconductors integrate a microprocessor, memory and image processing circuits that function like a computer on a single chip, or system-on-a-chip. “
Royal Caribbean Cruises (NYSE:RCL) was downgraded by analysts at Berenberg Bank from a buy rating to a hold rating.
RadNet (NASDAQ:RDNT) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “RadNet, Inc., is a national market leader providing high-quality, cost-effective diagnostic imaging services through a network of fully-owned and operated outpatient imaging centers. RadNet offers to its patients and referring physicians the full spectrum of diagnostic imaging exams, including PET/CT, MRI, CT, Nuclear Medicine, Mammography, Ultrasound and X-ray, as well as numerous other procedures. RadNet utilizes best of breed technology to appropriately serve the medical communities in which it operates. “
Regional Management Corp. (NYSE:RM) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Regional Management Corp. is a diversified specialty consumer finance company engaged in providing loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other traditional lenders. It offers Small Installment Loans, Large Installment Loans, Automobile Purchase Loans, Furniture and Appliance Purchase Loans and Insurance Products. The Company has operations primarily in South Carolina, Texas, North Carolina, Tennessee and Alabama. Regional Management Corp. is headquartered in Greenville, South Carolina. “
Retrophin (NASDAQ:RTRX) was downgraded by analysts at Zacks Investment Research from a hold rating to a strong sell rating. According to Zacks, “Retrophin is a pharmaceutical company focused on the development, acquisition and commercialization of drugs for the treatment of serious, catastrophic or rare diseases for which there are currently no viable options for patients. The Company’s approved products include Chenodal®, Cholbam, and Thiola®, and its pipeline includes compounds for several catastrophic diseases, including focal segmental glomerulosclerosis, pantothenate kinase-associated neurodegeneration, infantile spasms, nephrotic syndrome and others. Retrophin, Inc. is based in San Diego. “
Salem Media Group (NASDAQ:SALM) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Salem Media Group, Inc. is a radio broadcaster, Internet content provider and magazine and book publisher specializing in Christian and Conservative content. Its operating segment consists of Broadcast, Digital Media and Publishing. Broadcasting segment is engaged in the ownership and operation of radio stations in metropolitan markets. Digital Media segment focuses on Web-based platform designed. Publishing segment consists of Regnery Publishing, Xulon Press and Salem Publishing. Salem Media Group, Inc., formerly known as Salem Communications Corporation, is headquartered in Camarillo, California. “
SkyWest (NASDAQ:SKYW) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “SkyWest, Inc., through its wholly-owned subsidiary, SkyWest Airlines, Inc. , operates one of the larger regional airlines in the United States. SkyWest, Inc.,. is the holding company for two scheduled passenger airline operations and an aircraft leasing company. It provides passenger and air freight service and completes over 880 daily flights. SkyWest, Inc. operates regional airlines that offer scheduled passenger service to destinations in the United States, Canada, Mexico, and the Caribbean. SkyWest Airlines operates through partnerships with United Airlines (United), Delta Air Lines (Delta), American Airlines (American) and Alaska Airlines. ExpressJet Airlines operates through partnerships with United, Delta and American. Pursuant to a joint marketing and code sharing agreement with Delta Airlines, Inc., SkyWest operates as a Delta Connection in certain SkyWest markets. SkyWest, Inc., is headquartered in St. George, Utah. “
Sophos Gp Plc (OTCMKTS:SPHHF) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Sophos Group plc provides cloud-enabled end user and network security solutions. The Company offers protection against viruses, known and unknown malware, spyware, intrusions, unwanted applications, spam, policy abuse and data leakage. It serves education, healthcare, retail, finance and banking industries as well as governments. The company operates primarily in Europe, the Middle East, Africa, the Americas, the Asia Pacific and Japan. Sophos Group plc is headquartered in Abingdon, the United Kingdom. “
ServiceSource International (NASDAQ:SREV) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “ServiceSource provides a suite of cloud applications for service revenue management. The Company provides end-to-end management and optimization of the service contract renewals process, including data management, quoting, selling and service revenue business intelligence. Its solution is based on the proprietary Service Revenue Intelligence Platform, a data warehouse that incorporates transactional, analytical and industry data gathered from over two million service renewal transactions. The Company’s offering finds its application in all industries. ServiceSource is headquartered in San Francisco, California. “
StarTek (NYSE:SRT) was downgraded by analysts at Zacks Investment Research from a hold rating to a strong sell rating. According to Zacks, “StarTek, Inc. is a global provider of process management services and owns and operates branded vertical market Internet web sites. Their process management service platforms include E-commerce support and fulfillment, provisioning management for telecommunications systems, high-end inbound technical support, and an offering of supply chain management services. As an outsourcer of process management services as its core business, StarTek allows its clients to focus on their primary business, reduce overhead, replace fixed costs with variable costs, and reduce working capital needs. “
John Wood Group PLC (LON:WG) was downgraded by analysts at Numis Securities Ltd to an add rating. Numis Securities Ltd currently has GBX 820 ($10.79) target price on the stock.
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