Equities Research Analysts’ Updated EPS Estimates for May, 16th (ADVM, ANGO, ARE, ATGE, BIR, CASI, FTV, LH, MTSI, NDAQ)

Equities Research Analysts’ updated eps estimates for Thursday, May 16th:

Adverum Biotechnologies (NASDAQ:ADVM) had its buy rating reaffirmed by analysts at Cowen Inc.

AngioDynamics (NASDAQ:ANGO) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “AngioDynamics continues to gain from its core VIT business unit, which witnessed solid growth on the back of impressive performance at the Fluid Management and AngioVac units. Recent acquisitions of BioSentry and RadiaDyne are proving favorable for the company at the moment. AngioDynamics announced that it has received an approval from the U.S. FDA to initiate a clinical study for treating stage III pancreatic cancer. The company also announced that the FDA has granted an expanded 510(k) clearance for its OARtrac Radiation Dose Monitoring System for use in cancer treatments. On the flip side, headwinds faced by AngioDynamics’ Venous Insufficiency business and sluggish show by radiofrequency ablation products raise concerns. AngioDynamics underperformed its industry in a year’s time.”

Alexandria Real Estate Equities (NYSE:ARE) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Shares of Alexandria have outperformed its industry over the past three months. The company’s properties are located in urban campuses that are characterized by high barriers to entry and exit, and a limited supply of available space, enabling it to enjoy higher occupancy rate. With adequate financial flexibility and decent liquidity position the company is well poised to pursue strategic development and redevelopment projects. Moreover, in first-quarter 2019, the company recorded its highest quarterly cash rental rate growth over the past 10 years. However, a significant development pipeline increases operational risks and exposes it to rising construction costs. Further, since Alexandria aims to monetize operating assets to fund its pipeline, the near-term dilutive impact on earnings from these asset sales cannot be bypassed. In addition, international footprint exposes the company to currency fluctuation risks.”

Adtalem Global Education (NYSE:ATGE) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Adtalem Global Education reported mixed third-quarter fiscal 2019 results, wherein earnings topped analysts’ expectation by 4.6%, while revenues lagged the same by 2.2%. Although new student and total student enrollment grew 15.4% and of 4.3%, respectively, both the top and bottom line declined year over year. The decline was mainly due to currency headwinds in Brazil and delays in government funding, which negatively impacted its top-line growth. Certain restructuring charges related to real estate consolidations in Adtalem Brazil and its home office also negatively impacted the results. Adtalem’s shares have underperformed the industry so far this year. Earnings estimates for fiscal 2019 and 2020 have been trending downward over the past seven days, depicting concerns surrounding its earnings performance going forward.”

Birchcliff Energy (TSE:BIR) had its average rating reiterated by analysts at GMP Securities. They currently have a C$6.75 price target on the stock.

CASI Pharmaceuticals (NASDAQ:CASI) had its buy rating reiterated by analysts at HC Wainwright. They currently have a $7.00 price target on the stock. The analysts wrote, “We maintain our Buy rating of CASI and our 12-month price target of $7.00 per share. We derive our price target based on the average of two valuation methods: (1) price-sales multiple analysis applying an 8x multiple to our 2025 sales estimate discounted at 12%; and (2) price-earnings multiple analysis applying an 18x multiple to our 2025 estimated earnings discounted at 12%. (1) clinical; (2) regulatory; (3) financial; and (4) intellectual property.””

Fortive (NYSE:FTV) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. They currently have $91.00 price target on the stock. According to Zacks, “Fortive reported mixed first-quarter results with earnings surpassing the Zacks Consensus Estimate while revenues missing the same. Nevertheless, the company witnessed robust growth across sensing and transportation technologies. Further, well-performing Professional Instrumentation and Industrial Technologies segments drove the top-line growth. Also, Fortive's strong product pipelines and increasing buyouts should continue to improve its market share. Further, robust Gilbarco Veeder-Root and Jacobs Vehicle Systems remain positive for its position in North America and China. However, Fortive faces some near-term headwinds in the Professional Instrumentation segment. Also, fluctuations in foreign exchange rates and higher expenses pose a serious risk. Moreover, end market cyclicality poses a serious threat to the company’s top-line growth. Notably, shares of Fortive have underperformed the industry it belongs to over a year.”

Laboratory Corp. of America (NYSE:LH) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. Zacks Investment Research currently has $185.00 price target on the stock. According to Zacks, “LabCorp has outperformed its industry over the three months. Diagnostics business grew organically in terms of both revenue and volume despite additional price reductions due to PAMA and the loss of exclusivity in two of the company’s largest managed care contracts. This apart, Covance Drug Development has also reported sturdy organic growth. The LaunchPad initiatives are also well on track. New acquisitions like MI Bioresearch and Envigo look promising. In the first quarter of 2019, LabCorp reported strong underlying performance and organic growth across both Diagnostics and Drug Development businesses banking on solid execution of three fundamental strategies. On the flip side, the disposition of certain businesses and the implementation of the Protecting Access to Medicare Act (PAMA) dented growth. Unfavorable currency transaction continues to remain as a major headwind. The company expects 2019 to continue to witness similar hurdles.”

MACOM Technology Solutions (NASDAQ:MTSI) was upgraded by analysts at Stifel Nicolaus from a sell rating to a hold rating.

Nasdaq (NASDAQ:NDAQ) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Shares of Nasdaq have outperformed the industry year to date. Nasdaq has been successful at maximizing opportunities as a technology and analytics provider and at the same time growing core marketplace businesses. It remains focused on growth via acquisitions and organic initiatives, thereby enabling its entry into new markets and gaining and cross-selling opportunities. It has also been ramping up non-transaction revenue base. Its strong balance sheet helps it to invest in growth opportunities and engage in shareholder-friendly moves. However, it has been witnessing elevated expenses, which limit margin expansion. High debt level induced increase in interest expenses. Both leverage ratio and interest coverage ratio compare unfavorably with the industry average. It estimates 2019 non-GAAP operating expenses in the range of $1.29-$1.33 billion. Nasdaq’s first-quarter EPS beat estimates but was down year over year due to lower trading activity.”

Nice (NASDAQ:NICE) had its buy rating reaffirmed by analysts at Wedbush. Wedbush currently has a $160.00 target price on the stock.

Intec Pharma (NASDAQ:NTEC) had its buy rating reaffirmed by analysts at LADENBURG THALM/SH SH. The analysts wrote, “We know the AP-cannabis compounds are so oily they require a reservoir, which is unlike the two immediate-release (IR) and one extended-release (XR) films in AP-CD/LD. So again, the films are specific to the API. Management has described AP’s technology as uniquely suited to low soluble drugs, but we do not know if that describes either of the two major pharma’s proprietary drugs.””

Northern Trust (NASDAQ:NTRS) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $106.00 target price on the stock. According to Zacks, “Shares of Northern Trust have outperformed the industry in the past three months. Also, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. First-quarter results reflected high revenues, strong capital position and improved credit metrics. However, rising operating expenses and lower fee income were on the downside. Northern Trust continues to gain from its strong wealth-management operations, along with diversified products. Also, higher interest rates are expected to ease margin pressure and support its top line. However, despite undertaking cost-saving measures, mounting expenses continue to hurt the company's financials. Moreover, declining loans balance puts the top line under pressure. Nevertheless, its impressive capital-deployment activities continue to enhance shareholders’ confidence”

Ovid Therapeutics (NASDAQ:OVID) had its buy rating reaffirmed by analysts at LADENBURG THALM/SH SH. They currently have a $27.00 target price on the stock. The analysts wrote, “We believe the new terms are much more favorable to Ovid (especially near-term) and demonstrate Lundbeck’s confidence in the potential of this Phase 3 ready candidate. The Amendment drops the near-term payment to Lundbeck for the start of the to $1M. As an offset, the total milestone payments are now $189M, from $181M. Given the pullback in OVID’s shares over the last year we find this important news for the company as well as its current and potential shareholders. We speculate that since Ovid’s CEO, Dr. Jeremy Levin, sits on Lundbeck’s Board, Lundbeck has greater confidence in the execution of the Phase 3 and its regulatory and commercial appeal than most outside partners would typically have in a company. Regardless, this Amendment frees up $9M for to deploy into the ongoing clinical development of OV101 and OV935.””

Regulus Therapeutics (NASDAQ:RGLS) had its hold rating reaffirmed by analysts at Wedbush. The firm currently has a $1.00 target price on the stock.

Royal Bank of Canada (NYSE:RY) (TSE:RY) had its buy rating reaffirmed by analysts at Desjardins. Desjardins currently has a $111.00 price target on the stock.

GLB X FUNDS/GLB X SILVER MINERS (BMV:SIL) had its average rating reiterated by analysts at Desjardins. Desjardins currently has a $6.00 target price on the stock.

Safeway (NYSE:SWY) had its sell rating reiterated by analysts at Scotiabank. The firm currently has a $0.05 target price on the stock.

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