Tesla Motors Inc (NASDAQ:TSLA) is up 2.56% in pre-market trading to $254.02 after CEO Elon Musk took to Twitter to announce that Tesla has begun accepting orders for its new Model X; an electric 7-seater SUV. The new car is expected to be a more expensive model and features falcon wing doors in the backseat for easy access to the third row. The Model X will have a base price estimated to be $75,000 but additions up the $132,000. Later in the day, Musk also announced via Twitter that the Model 3 will be unveiled in March with a retail price of $35,000. Tesla has a goal to sell between 50,000 and 55,000 cars in 2015. According to the 14 analysts polled by TipRanks in the last 3 months, 7 are bullish on Tesla, 3 are neutral, and 4 are bearish. The average 12-month price target on the stock is $321.70, marking a 30% potential upside from where shares last closed.
Seadrill Ltd (NYSE:SDRL) is down 1.62% in pre-market trading to $7.29 after the stock was downgraded from Neutral to Underperform by Gregory Lewis of Credit Suisse with a $5 price target. Oil companies in general have been taking a hit as China, the world’s second-largest oil consumer, faces the precipice of a recession. Lewis downgraded the stock because like many other analysts, he is becoming wary that low oil prices may take longer than expected to rebound. The analyst stated, “With our expectation of the recovery pushing to the right (think 2018) we favor names with strong balance sheets.” Lewis has reiterated Neutral ratings five times prior, dating back to April 2014. According to the 2 analysts polled by TipRanks, both are bearish on the stock with an average 12-month price target of $5, marking a potential 32% downside from where the stock last closed.
Click here to see Gregory Lewis’ rating history and performance.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shot up 10.35% in pre-market trading to $42.01 after the biotechnology company submitted a New Drug Application to the FDA for NUPLAZID, a treatment for psychosis associated with Parkinson’s disease. At this time, there is no FDA-approved treatment for Parkinson’s disease psychosis and Acadia has requested priority review. Acadia points out that although Parkinson’s is a debilitating ailment, psychosis is the primary reason that patients cite for moving out of their homes and into institutions. Acadia estimates that out of the one million Americans with Parkinson’s, 40% of them suffer from Parkinson’s disease psychosis and the hallucinations and delusions it entails. As of this writing, all 6 analysts polled by TipRanks in the last 3 months are bullish on Acadia. The average 12-month price target on the stock is $57, marking a 50% potential upside from where shares last closed.
Geron Corporation (NASDAQ:GERN) soared nearly 21% in pre-market trading to $3.69 after the biotechnology company announced that The New England Journal of Medicine published two articles highlighting the company’s pipeline technology. The papers describe that imetelstat, Geron’s telomerase inhibitor, showed “disease-modifying activity.” John Scarlett, Geron CEO, commented, “[The publications] provide compelling evidence that use of a telomerase inhibitor, such as imetelstat, may result in ground-breaking changes in how we approach the future treatment of hematologic myeloid malignancies.” According to the 2 analysts polled by TipRanks in the last 3 months, both are bullish on the stock. The average 12-month price target on GERN between the two analysts is $5.50, marking a 80% potential upside from where shares last closed.