GoPro Inc (NASDAQ:GPRO) shares are up 2.35% in pre-market trading to $58.25 after Cowen & Co. analyst Robert Stone initiated coverage on the stock with an Outperform rating and a $76 price target. Stone noted that the company is more than a market leader, but is also “actively expanding the category it created, with a range of devices that should appeal to sports enthusiasts and families.” The analyst added, “Forthcoming new software should drive ease of use, while content licensing, drones and virtual reality help support L-T growth.” In other news, GoPro received fleeting media coverage this week after surfer Jamie O’Brien used a GoPro camera to film himself surfing while on fire. According to the 16 analysts polled by TipRanks in the last 3 months, 12 are bullish on the stock and 4 are neutral. The average 12-month price target is $77.17, marking a 35% potential upside from where shares last closed.
Shake Shack Inc (NYSE:SHAK) fell -5.54% in pre-market trading to $61.20 after the fast-casual burger restaurant announced a secondary offering of common stock. The company will offer 4 million shares at $60 each with an expected close date on August 18, 2015. Furthermore, the Selling Stockholders have granted underwriters a 30-day window to buy up to 600,000 more shares at its public offering price. This offering comes days after Shake Shack released second quarter earnings results. The company posted $0.09 adjusted EPS on $48.5 million in revenue, beating estimates of $0.03 EPS on $42.8 million in revenue. Shake Shack went public in February and quickly gained popularity among investors, hitting a $96 high in late May. According to the 5 analysts polled by TipRanks in the last 3 months, 2 are bearish on the stock and 3 are neutral. The average 12-month price target for SHAK is $44.75, marking a 31% potential downside from where shares last closed.
Intercept Pharmaceuticals Inc (NASDAQ:ICPT) slipped 1.43% in pre-market trading down to $232.32 after Morgan Stanley initiated coverage on the company with an Underweight rating and a $165 price target. The company released earnings in early August, posting a second-quarter loss of ($47.9) million a loss of ($1.99) per share. The pharmaceutical company completed a New Drug Application for OCA in PCB on June 29 and investors are now waiting for the FDA’s verdict on the status of the drug. Aside from this new rating, TipRanks has polled 11 analysts on ICPT in the last 3 months, of which 8 are bullish on the stock and 3 are neutral. The average 12-month price target on the stock is $04.27, marking a 74% potential upside from where shares last closed.
Keryx Biopharmaceuticals (NASDAQ:KERX) slipped -4.80% down to $6.15 in pre-market trading after Morgan Stanley initiated coverage on the company with an Underweight rating and a $3 price target. This bearish rating comes one week after the pharmaceutical company released second quarter earnings, in which the company posted earnings per share of $0.26 on $2.5 million in revenue. EPS was in-line with the analyst consensus though revenue missed the analyst estimate of $2.9 million. The company’s lead product is Auryxia, an FDA approved therapy for patients with chronic kidney disease on dialysis. Aside from this new rating, TipRanks has polled 7 analysts on KERX in the last 3 months. Of the 7 analysts, 4 are bullish on KERX and 3 are neutral. The average 12-month price target on the pharmaceutical company is $15.57, marking a 141% potential upside from where shares last closed.