bluebird bio Inc (NASDAQ:BLUE) shares shed more than 11% on Friday after the Massachusetts-based biotech company developing gene therapies for severe genetic diseases was downgraded by Bank of America analysts.
The analysts downgraded the company to ‘Neutral’ and lowered their price target to $0.50 from $3 on their belief its key product launch, Lyfgenia for sick cell disease (SCD), will ramp slower and achieve lower peak revenue.
Premier Inn owner Whitbread PLC (LSE:WTB) faced a downgrade by Barclays analysts on Friday, prompting shares to fall.
Warning of consensus downgrades due to higher costs on the back of last month’s Budget, Barclays bumped Whitbread’s rating from ‘overweight’ to ‘equal weight’.
Africa Oil Corp (TSX:AOI) valuation is seen substantially higher over at Stifel, with the stockbroker repeating a ‘Buy’ recommendation following this week’s financial update.
The Toronto-listed oil firm, which is in the process of consolidating ownership of its Nigerian operations, this week told investors it had recorded improved production and cash flow in its third quarter – seeing 17,900 boepd and $68.2 million respectively.
Panmure Liberum reiterated its 'buy' recommendation and 70p a share price target for stock in Ilika PLC (AIM:IKA, OTCQX:ILIKF), the producer of next-gen solid-state batteries.
That valuation is a significant premium to the current price of 14.95p and reflects the broker's confidence in the story.