Analyst Update: Celldex, EP Energy, Boston Beer Co

Analysts adjusted their ratings and price targets on Celldex Therapeutics, Inc. (CLDX), EP Energy Corp (EPE), and Boston Beer Co Inc (SAM)

Mar 8, 2016 at 2:19 PM

Analysts are weighing in on biotech Celldex Therapeutics, Inc. (NASDAQ:CLDX), oil-and-gas stock EP Energy Corp (NYSE:EPE), and Sam Adams parent Boston Beer Co Inc (NYSE:SAM). Here's a quick roundup of today's brokerage notes on CLDX, EPE, and SAM.

A day after plummeting on the termination of a brain cancer vaccine study, CLDX is off another 0.3% at $3.78 and earlier touched a roughly four-year low of $3.57. Considering all of the bearish brokerage attention it's received, though, the stock is holding up relatively well. Specifically, Jefferies lowered its rating on Celldex Therapeutics, Inc. to "hold" from "buy," and slashed its price target to $4 from $31. Price-target cuts also came from Cowen (to $12 fro $28) and H.C. Wainwright (to $6 from $25). Meanwhile, short sellers are crossing their fingers in the hopes of more downside for the technical underperformer. During the last two reporting periods, short interest on CLDX climbed 25.8%, and now accounts for over one-quarter of its total float.

EPE has given back a portion of yesterday's colossal gains, after Credit Suisse reduced its rating to "neutral" from "outperform," citing "risks to the company's balance sheet once its hedges roll off in 2017." Most recently, the shares were seen 19.4% lower at $5.52, but they're still up 40.4% week-to-date. Of course, EP Energy Corp's losses may have been in the cards regardless of the downgrade, considering its 14-Day Relative Strength Index (RSI) of 81 sits in overbought territory. Taking a step back, Credit Suisse isn't the only brokerage firm skeptical of the stock. In fact, 12 of 13 analysts following EPE have handed out a "hold" or worse opinion.

SAM is down 12% at $175.56 -- on track for its biggest single-day percentage loss in more than four months -- following a downgrade to "underperform" from "outperform" at CLSA. What's more, the brokerage cut its 2016 earnings outlook for Boston Beer Co Inc, citing "ongoing weakness in its flagship brews." Today's loss represents quite the setback for a stock that had been steadily gaining ground since hitting a two-year low of $160.84 in late January. If traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) get their wish, SAM will slide even further. The stock's 50-day put/call volume ratio of 1.07 across those exchanges is just 1 percentage point from an annual peak.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Chesapeake Energy Corporation, Urban Outfitters, Inc., and Panera Bread Co and Analyst Downgrades: Shake Shack Inc, Pfizer Inc., and Valeant Pharmaceuticals Intl Inc.

Follow @Schaeffers

Are You Ready for AI's Potential Supercycle Phase?
Amazon's Jeff Bezos surprised investors when he revealed that one emerging technology is the key to Amazon's future success... This technology could be worth $80 trillion by 2030. Learn more and join Motley Fool's Stock Advisor for 50% off!

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.