3 Top Stocks In The Last 72 Hours (And 1 Stock Warning)
What are the hottest stocks in the market right now? TipRanks financial accountability engine tracks the stock recommendations from nearly 4,600 analysts- so using TipRanks’ Trending Stocks tool we set out to discover which three stocks have had analysts buzzing over the last few days. This is the perfect tool to use if you are looking for investing inspiration because you can quickly discover the best, most or worst rated stocks in the sector that interests you over three different time periods.
In this case, we filtered the options to best-rated stocks in the last 72 hours from any sector and with any market cap size. We crunched the data and the results came out as these three ‘strong buy’ stocks: NeoGenomics, Broadcom and Aerie Pharma.
Check out the average analyst price target and in green the upside percentage of the average analyst price target from the current share price- a crucial indicator for investors of the stock’s price potential over the next 12 months. To delve deeper into the star-rating of the analysts recommending the stock, simply click on the ticker to go to the stock analysis page.
Now let’s see why top Wall Street analysts are bullish on these three stocks:
1 NeoGenomics (NEO)– Following its inaugural investor day, cancer diagnostic company NEO received three buy ratings in quick succession, with very significant predicted upside of 42%. “We come away with a better appreciation for NEO’s leadership position as the premier “one-stop shop” high-complexity oncology reference lab” says Roth Capital’s four-star analyst Chris Lewis.
2 Broadcom (AVGO)– Apple supplier Broadcom has received four buy ratings in the last 72 hours ahead of its earnings report on June 1. “We continue to see AVGO well-positioned into 2H17 with share gains on the S8 and the iPhone 8 ramp” says five-star Mizuho analyst Vijay Rakesh. The earnings report is also likely to cover AVGO’s bid of apparently $20 billion for Toshiba’s memory chip business.
3 Aerie Pharma (AERI)– Shares in eye-treatment company AERI skyrocketed recently after it released positive clinical results. AERI was carrying out a late-stage Mercury 2 trial to evaluate product-candidate Roclatan, an eye drop, as a hopeful treatment for glaucoma. “We view these results as very positive. Raise PT from $63 to $70. As a result of the positive readout, we now include future potential European revenues for Roclatan into our price target” says Difei Yang of Aegis Capital. Sixteen of her eighteen AERI recommendations have been profitable giving her an impressive success rate on the stock of 89%.
And one stock at risk
The outlook isn’t so bright for the ‘All-American’ retailer Abercrombie & Fitch (ANF), which has a Moderate Sell analyst consensus rating on TipRanks. If we filter the trending stocks tool to ‘worst-rated stocks in the last 72 hours’, one stock is pulled up and that is ANF.
If we also go to the Smart Portfolio platform’s portfolio analysis page we can see that Abercrombie is included in the ‘Stock Warnings’ section- this immediately alerts investors if analysts have issued a sell rating on one of the stocks or prices have dropped dramatically.
In this case, the sell rating is from top Morgan Stanley analyst Kimberly Greenberger, who gave the stock a very bearish $9 price target (-31% downside from the current share price). With core business still declining, Abercrombie reported an unexpectedly large fiscal fourth quarter loss of $0.91 – and Greenberger sees these losses continuing.
ANF is now pinning its hopes on a takeout with American Eagle Outfitters reported as one potential buyer. But: “While we see the strategic rationale in a merger of equals (reducing promotional impressions in the market, corporate headquarter savings, etc.), a takeout of the company at a premium would be highly risky” says Greenberger.
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