El Pollo LoCo Holdings Inc (NASDAQ:LOCO) shares plummeted more than -18% in pre-market trading down to $18.74, after the restaurant chain missed its second-quarter revenue expectations in a late Thursday earnings report. The company posted quarterly net income of $7.2 million, or $0.18 per share, versus $6.6 million, or $0.22 per share, in the year-ago period. Its total revenue climbed to $89.5 million from $86.9 million. However, analysts were expecting earnings of $0.18 per share on revenue of $93 million. According to the 6 analysts polled by TipRanks, 3 are bullish on LOCO, 2 are neutral and 1 is bearish. The average 12-month price target on the stock is $28, marking an 52.5% potential upside from where the stock last closed.
King Digital Entertainment PLC (NYSE:KING) shares slipped -10.46% in pre-market trading, after the company posted a 28 percent drop in quarterly profit, as revenue from its three-year-old “Candy Crush Saga” game continued to decline. In response, RBC Capital analyst Mark Mahaney commented: “We’ve stated before that for us to become constructive on the stock, we would need to see stable trends showing bookings growth AND diversification away from CC. This quarter we saw both Gross Bookings declines and a decrease in diversification away from CC… Uh-Oh. This coupled with a weak bookings outlook for the year and weak usage metrics makes us more cautious.”
Amedica Corporation (NASDAQ:AMDA) shares are set to open higher on Friday, after the company reported second-quarter earnings results, which were consistent with its July 27 preannouncement. Revenue declined 18% year-over-year but grew 1% sequentially with silicon nitride (SiN) implant sales declining 13%. AMDA maintained its guidance for 2015 revenue of $19-20 million, compared to consensus of $19.3 million. Subsequently, Needham analyst Michael Matson reiterated a Buy rating on Amedica shares, with a $1.00 price target, marking an 90% potential upside from where the stock last closed.
Avalanche Biotechnologies Inc (NASDAQ:AAVL) shares dropped -13.59% in pre-market trading down to $11.95, after the company reported second quarter earnings and disclosed that it is no longer proceeding with the planned Phase 2b study of AVA-101 in wet-AMD based on further analysis of the Phase 2a data. Instead, AAVL will compare the profile of AVA-101 to preclinical, intravitreal delivery candidate AVA-201. According to TipRanks 4 analysts have provided bullish ratings on AAVL in the last 3 months. The average 12-month price target on the stock is $112.44, marking an 29% potential upside from where the stock last closed.