Cloud stock NTNX is soaring after an upgrade at Goldman Sachs
Stocks are enjoying another strong session, as oil prices continue to rise. Among the names making big moves are cloud stock Nutanix Inc (NASDAQ:NTNX), biotech La Jolla Pharmaceutical Company (NASDAQ:LJPC), and mobile tools provider Cheetah Mobile Inc (ADR) (NYSE:CMCM). Here's a quick look at what's moving shares of NTNX, LJPC, and CMCM.
Goldman Upgrade Lifts NTNX Stock Past 50-Day
Nutanix stock is up 10.7% today at $17.71, after Goldman Sachs raised its rating to "buy" from "neutral," and reaffirmed a $31 price target -- territory not seen since March 2, and representing a nearly 50% premium to NTNX's current price. The covering analyst cited a "very attractive opportunity to buy the leader in hyperconverged infrastructure." The shares are set to close atop their 50-day moving average for the first time since their huge bear gap from early March -- often a solid "buy" signal -- and this could be great news for options traders. For instance, NTNX stock has a brow-raising 10-day call/put volume ratio of 32.40 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), illustrating a tremendous bias for long calls over puts recently.
Drug Trial Results Weigh on LJPC Stock
Mixed drug trial results for its experimental blood pressure drug has shares of La Jolla Pharmaceutical down 3.4% today at $32.86. Earlier in the session, LJPC stock fell as low as $29.51. An analyst at Jefferies added that on cardiac adverse effects, the drug displayed no difference from placebo. The drug stock remains up 87.5% year-to-date, but short sellers continue to bet on a drop in the shares. During the past two reporting periods, short interest on LJPC stock shot up 37.7%. These bearish bets now represent more than 13 sessions' worth of pent-up buying demand, at La Jolla's average daily trading volume.
Strong Results Send CMCM Stock Rallying
Cheetah Mobile stock is up 8.1% at $11.40 -- and earlier touched a two-month high of $12.50 -- thanks to better-than-expected quarterly earnings. The shares now sport a 19.3% year-to-date lead, and an extended rally could draw some fresh attention from the analyst community. Not a single analyst currently recommends buying CMCM stock, and it's now trading above its average 12-month price target of $10.62.