Alibaba Group Holding Ltd (NYSE:BABA) shares slipped -1.6% in pre-market trading down to $73.99 after Chinese shares slid 6%. Consequently, several Asian stocks, as well as oil prices, have fallen to new 52-week lows. This recent slip in the Chinese stock market comes as the region’s economy has been struggling since June despite government efforts to stave off a crash. Shares of Alibaba, the Chinese ecommerce giant, are irrevocably linked to the health of the Chinese economy. Reports note that the wealth of Jack Ma, the founder of the company and the richest man in China, has decreased by up to $752 million. According to the 16 analysts polled by TipRanks in the last 3 months, 14 are bullish on the stock and 2 are neutral. The average 12-month price target of the stock is $96.71, marking a 27% potential upside from where shares last closed.
Juno Therapeutics Inc (NASDAQ:JUNO) shares are up 2.38% in pre-market trading to $42.55 after FBR Capital analyst Edward White initiated coverage on the company with an Outperform rating and $73 price target. The analyst highlighted Juno’s CAR and TCR technologies, which “genetically modify T cells to exhibit specific receptors that can recognize cancer antigens on the surface or inside of a cancerous or diseased cell and kill the cancer cells.” White explained, “The company has reported tremendous success with its product candidates in the treatment of pediatric and adult patients with relapsed/refractory acute lymphoblastic leukemia [r/r ALL].” The analyst pointed to JCAR015, a pipeline drug for r/r ALL, which will begin its Phase II trial shortly. Juno plans to file the drug for FDA approval in late 2016 or early 2017. According to the 3 analysts polled by TipRanks in the last 3 months, all 3 of them are bullish on the stock. The average 12-month price target on the stock is $73.67, marking a 77% potential upside from where shares last closed.
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SanDisk Corporation (NASDAQ:SNDK) shares fell -3.40% in pre-market trading down to $56.22 after an analyst from Merrill Lynch downgraded the company from Buy to Underperform with a price target of $40. The semiconductor company has been struggling in the last year, falling approximately 39% since last August. Shares are now trading closer to its 52-week low of $53.18. According to the 19 analysts polled by TipRanks in the last 3 months, 10 are bullish on the stock, 8 are neutral, and 1 is bearish. The average 12-month price target on the stock is $68.08, marking a 17% potential upside from where shares last closed.
FireEye Inc (NASDAQ:FEYE) shares jumped 1.58% to $44.34 in pre-market trading after Michael Kim of Imperial Capital upgraded his rating on the company from In-Line to Outperform and raised his price target from $44.50 up to $55. Kim commented, “FEYE is making significant progress on driving higher sales productivity and margin expansion, with operating cash flow tracking substantially ahead of our expectations.” He praised that the company is becoming a “top-tier security vendor” and believes that the company will “continue to gain share over legacy vendors, with multiple growth drivers from its network and endpoint products, as well as cloud solutions and services.” The analyst highlights the company’s ability to “expand into existing customers and capture new customers.” According to the 14 analysts polled by TipRanks in the last 3 months, 8 are bullish on the stock, 5 are neutral, and 1 is bearish. The average 12-month price target on the stock is $51.75, marking an 18% potential upside from where shares last closed.