Shake Shack Inc (NYSE:SHAK) is up over 6% this morning in pre-market trading following an upgrade from analyst Sharon Zackfia of William Blair. The analyst upgraded the stock to Outperform from Market Perform, as she expects strong earnings growth and “more palatable valuation” after the company’s recent pullback in shares. She also notes that the company’s premium is low relative to its peers. According to TipRanks’ statistics, 2 analysts have rated the company in the past 3 months, 1 with a Buy rating and one remaining neutral.
Skyworks Solutions Inc (NASDAQ:SWKS) is up 2.65% in pre-market to $62.28 after analyst Quinn Bolton of Needham upgraded the company from Hold to Buy with a $73 price target. Many have been bearish on the semiconductor company due to recent Apple weakness since Skyworks is a primary chip provider for the company. However, Bolton notes that these concerns are already incorporated into SWKS shares. He explains, “As we believe recent iPhone weakness is already largely discounted into both SWKS’ share price and estimates, we believe SWKS shares are poised for a relief rally around the release of F1Q16 results on Jan 28… We believe the RF front-end TAM is poised to grow at a double-digit CAGR through 2019, we would take advantage of share price weakness to accumulate SWKS shares.” According to TipRanks, all 11 analysts who have rated the stock in the last 3 months are bullish on it with a 12-month price target of $100.18, marking a 65% potential upside from where shares last closed.
Exelixis, Inc. (NASDAQ:EXEL) is up 3.78% in pre-market up to $4.39 after Michael Schmidt from Leerink Swann upgraded the company from Market Perform to Outperform and raised his price target to $7 from $6. The analyst believes that the recent market sell off creates a good buying opportunity, explaining, “While most Biotech stocks sold off over the last two weeks, we believe EXEL represents a lower clinical risk, later-development stage opportunity with likely positive near-term news flow.” Specifically, the analyst points to Cabozantinib, the company’s pipeline drug for specific forms of cancer. According to analysts polled by TipRanks, one other analyst is bullish on the biotech company.
Can Fite Biopharma Ltd (ADR) (NYSEMKT:CANF) is soaring 19% in pre-market trading this morning following an announcement from the U.S. Patent and Trademark Office regarding its sexual dysfunction drug CF602. The office issued a notice of allowance for patent “A3 Adenosine Receptor Allosteric Modulators” which protects the company’s use of A3 Adenosine Receptor used in developing CF602. The company plans to file a new drug application with the FDA to begin phase 1 studies of this drug for sexual dysfunction treatment in the fourth quarter. According to TipRanks, one analyst is currently bullish on the biotech company with a $6 price target, marking a 200% potential upside from current levels.