Analyst Update: Alere, Inogen, and Silver Wheaton

Analysts adjusted their ratings and price targets on Alere Inc (ALR), Inogen Inc (INGN), and Silver Wheaton Corp. (USA) (SLW)

Mar 15, 2016 at 12:01 PM

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Analysts are weighing in on medical technology experts Alere Inc (NYSE:ALR) and Inogen Inc (NASDAQ:INGN), as well as precious metals miner Silver Wheaton Corp. (USA) (NYSE:SLW). Here's a quick roundup of today's brokerage notes on ALR, INGN, and SLW.

ALR is down 7% at $49.74, after the health diagnostics firm received a grand jury subpoena from the Department of Justice, and was hit with a downgrade to "neutral" from "buy" at BTIG. This is par for the course, as the other six analysts tracking Alere Inc -- which agreed to be purchased by Abbott Laboratories (NYSE:ABT) last month -- have maintained "hold" assessments. Prior to today, ALR was consolidating in the $53-$54 range, just below ABT's buyout offer of $56 per share.

INGN has caught fire following last night's earnings beat and upwardly revised sales guidance, as well as a price-target hike to $47 from $45 at Needham. At last check, the shares are up 16.7% at $41.24, and back in positive year-to-date territory. Suffice it to say, short sellers may be feeling the heat. While short interest has been edging lower on Inogen Inc in recent reporting periods, it still accounts for 14.4% of the stock's total float. At INGN's average daily trading levels, it would take about three weeks to cover these bearish bets, suggesting there's plenty of sideline cash available to fuel the upward momentum.

SLW is off 0.7% at $16.67, despite a price-target hike to $24 from $21 at Raymond James. Longer term, the stock has been red-hot, rallying 66% off its six-year low of $10.04 on Jan. 20 amid a rally in the commodities sector. Not surprisingly, options traders have taken a glass-half-full approach in recent months. Silver Wheaton Corp.'s 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 3.95 rests in the bullishly skewed 78th percentile of its annual range. On the fundamental front, SLW will report earnings tomorrow night.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Pioneer Natural Resources, Oasis Petroleum Inc., and Outerwall Inc and Analyst Downgrades: 3D Systems Corporation, Sanderson Farms, Inc., and Gilead Sciences, Inc.

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