Thursday Evening’s Market Insights: Ambarella Inc (AMBA), KaloBios Pharmaceuticals Inc (KBIO), Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA)


Ambarella Inc (NASDAQ:AMBA) shares fall 7.55% to $53.51 in after-hours trading, after the semiconductor company released its fiscal third-quarter financial results, providing soft revenue outlook for its current quarter. Ambarella forecast revenue of $65 million to $67.5 million, compared to consensus estimate of $76.3 million in revenue for the quarter. To the company’s credit, during the third quarter, Ambarella achieved $1.08 in earnings per share (EPS) on $93.2 million in revenue compared to consensus estimates of $0.86 in EPS on $89.90 million in revenue. The street is mostly Bullish on AMBA stock. According to TipRanks, out of 5 analysts who covered the stock in the last 3 months, 3 suggest a Buy rating and 2 recommend to Hold the stock. The 12-month average price target assigned to the stock is $95.00, which represents a potential upside of 64% from where the stock is currently trading.

KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) shares skyrocketed nearly 31% in after-hours trading Thursday after the biotech company announced that it has signed an agreement to acquire a benznidazole program for the treatment of Chagas Disease fromSavant Neglected Diseases, LLC, a privately-held specialty pharmaceutical company. Under the terms of the agreement, KaloBios will pay an upfront payment of $2 million, plus regulatory milestones and a royalty based on product sales. In addition, the company announced it has entered definitive agreements with institutional and accredited investors in connection with a private placement, or PIPE financing. Upon closing of the transaction, the Company will receive gross proceeds of approximately $8.2 million in exchange for the issuance to investors of 280,170 shares of common stock of the Company.

Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) shares are up 6.62% to $174 in after-hours trading, after the cosmetics company announced its fiscal third-quarter results, posting $910.7 million in revenue compared to consensus estimates of $880.00 million in revenue. On the ratings front, Ulta Salon has been the subject of a number of recent research reports. In a report issued on November 30, J.P. Morgan analyst Christopher Horvers maintained a Buy rating on ULTA, with a price target of $215, which represents a potential upside of 32% from where the stock is currently trading. Separately, on the same day, Oppenheimer’s Rupesh Parikh reiterated a Buy rating on the stock and has a price target of $195. Overall, one research analyst has assigned a Hold rating and 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $205.00, marking 26% above where the stock opened today.

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