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Bull&Bear | Origin Materials Jumps 30% on JPMorgan Upgrade; Coherus Biosciences Drops 18.71% After UBS Downgrade

AInvestFriday, Aug 16, 2024 6:00 pm ET
1min read
Bullish Stocks:

Origin Materials (ORGN) surged by 30.00%, marking a three-day rally with a cumulative increase of 66.28% over the past three days. JPMorgan Securities upgraded Origin Materials' stock from neutral to buy and raised its price target from $1.35 to $3. Analysts emphasized the company's positioning for early profitability and long-term growth, supporting the stock upgrade.

System1 (SST) gained 23.81%. System1 reported its second-quarter results and initiated its third-quarter outlook. The company's financial performance for Q2 2024 demonstrated robust revenue growth and profitability. Moreover, the company shared a positive outlook for the third quarter, forecasting continued revenue and profit growth. This indicates stable business performance and a promising future, likely positively impacting the stock price.

Emergent (EBS) jumped by 24.02%, marking a four-day growth streak with a 61.02% increase over the past four days. Amid a crisis highlighted by a measles vaccine scandal, Emergent Biosolutions saw its stock price rise by 18%.

Alpha Teknova (TKNO) increased by 23.13%, marking a two-day continual rise with a 33.42% gain over the past two days. Stephens raised Alpha Teknova's price target from $4 to $5.

Aspen Aerogels (ASPN) rose by 22.57%, achieving a seven-day growth streak with a cumulative increase of 61.73% over the past seven days. Aspen Aerogels' strategic market position in the electric vehicle sector and promising growth prospects justify a buy rating.

Bearish Stocks:

Coherus Biosciences (CHRS) declined by 18.71%. UBS downgraded Coherus Biosciences' stock to neutral and lowered its price target to $1.5.

Sonida Senior Living (SNDA) dropped by 17.34%. Sonida's stock price fell by 17.1% following the pricing of its large public offering at $27 per share and the issuance of 4.3 million shares.

ORIC Pharmaceuticals (ORIC) fell by 14.13%. Oppenheimer Holdings maintained its buy rating for ORIC Pharmaceuticals but decreased its price target to $15.

Orangekloud (ORKT) dropped by 13.21%, marking a three-day decline with a cumulative decrease of 28.68% over the past three days. OrangeKloud Technology closed its IPO.

Wheels Up Experience (UP) declined by 12.96%. The 2024 second-quarter earnings report for Wheels Up Experience highlighted a narrowed loss for the quarter but also a drop in operating revenue. The company's earnings per share were -$0.14, with operating revenue totaling $196 million.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.