Bull&Bear | Origin Materials Jumps 30% on JPMorgan Upgrade; Coherus Biosciences Drops 18.71% After UBS Downgrade
Friday, Aug 16, 2024 6:00 pm ET
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.
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.