Benzinga's Top Ratings Upgrades, Downgrades For August 8, 2023

Upgrades

JP Morgan upgraded the previous rating for Telephone and Data Systems Inc TDS from Neutral to Overweight. For the second quarter, Telephone and Data had an EPS of $0.17, compared to year-ago quarter EPS of $0.15. The stock has a 52-week-high of $17.41 and a 52-week-low of $6.43. At the end of the last trading period, Telephone and Data closed at $13.20.

JP Morgan upgraded the previous rating for United States Cellular Corp USM from Neutral to Overweight. United States Cellular earned $0.05 in the second quarter, compared to $0.25 in the year-ago quarter. At the moment, the stock has a 52-week-high of $35.00 and a 52-week-low of $13.79. United States Cellular closed at $31.26 at the end of the last trading period.

Truist Securities upgraded the previous rating for DraftKings Inc DKNG from Hold to Buy. DraftKings earned $0.14 in the second quarter, compared to $0.29 in the year-ago quarter. The stock has a 52-week-high of $34.49 and a 52-week-low of $10.70. At the end of the last trading period, DraftKings closed at $31.63.

B of A Securities upgraded the previous rating for Axsome Therapeutics Inc AXSM from Underperform to Neutral. In the second quarter, Axsome Therapeutics showed an EPS of $1.54, compared to $1.06 from the year-ago quarter. The stock has a 52-week-high of $91.29 and a 52-week-low of $38.39. At the end of the last trading period, Axsome Therapeutics closed at $71.09.

CLSA upgraded the previous rating for XPeng Inc XPEV from Outperform to Buy. XPeng earned $0.37 in the first quarter, compared to $0.28 in the year-ago quarter. The current stock performance of XPeng shows a 52-week-high of $25.90 and a 52-week-low of $6.18. Moreover, at the end of the last trading period, the closing price was at $18.70.

For Vericel Corp VCEL, BTIG upgraded the previous rating of Neutral to Buy. For the second quarter, Vericel had an EPS of $0.11, compared to year-ago quarter EPS of $0.19. The stock has a 52-week-high of $39.90 and a 52-week-low of $17.32. At the end of the last trading period, Vericel closed at $31.90.

Credit Suisse upgraded the previous rating for Tronox Holdings PLC TROX from Underperform to Neutral. In the second quarter, Tronox Holdings showed an EPS of $0.16, compared to $0.84 from the year-ago quarter. The stock has a 52-week-high of $17.61 and a 52-week-low of $10.58. At the end of the last trading period, Tronox Holdings closed at $12.99.

According to Piper Sandler, the prior rating for NovoCure Ltd NVCR was changed from Neutral to Overweight. NovoCure earned $0.54 in the second quarter, compared to $0.23 in the year-ago quarter. The current stock performance of NovoCure shows a 52-week-high of $120.03 and a 52-week-low of $26.68. Moreover, at the end of the last trading period, the closing price was at $26.92.

According to Goldman Sachs, the prior rating for Paymentus Holdings Inc PAY was changed from Sell to Neutral. Paymentus Holdings earned $0.08 in the second quarter, compared to $0.00 in the year-ago quarter. The current stock performance of Paymentus Holdings shows a 52-week-high of $13.16 and a 52-week-low of $6.85. Moreover, at the end of the last trading period, the closing price was at $10.70.

According to Piper Sandler, the prior rating for Axsome Therapeutics Inc AXSM was changed from Neutral to Overweight. In the second quarter, Axsome Therapeutics showed an EPS of $1.54, compared to $1.06 from the year-ago quarter. At the moment, the stock has a 52-week-high of $91.29 and a 52-week-low of $38.39. Axsome Therapeutics closed at $71.09 at the end of the last trading period.

See all analyst ratings upgrades.

Downgrades

According to Craig-Hallum, the prior rating for RingCentral Inc RNG was changed from Buy to Hold. For the second quarter, RingCentral had an EPS of $0.83, compared to year-ago quarter EPS of $0.45. At the moment, the stock has a 52-week-high of $54.75 and a 52-week-low of $25.32. RingCentral closed at $38.98 at the end of the last trading period.

Goldman Sachs downgraded the previous rating for Sage Therapeutics Inc SAGE from Buy to Neutral. In the second quarter, Sage Therapeutics showed an EPS of $2.68, compared to $2.13 from the year-ago quarter. The stock has a 52-week-high of $59.99 and a 52-week-low of $16.52. At the end of the last trading period, Sage Therapeutics closed at $16.75.

Stephens & Co. downgraded the previous rating for Sovos Brands Inc SOVO from Overweight to Equal-Weight. Sovos Brands earned $0.18 in the first quarter, compared to $0.14 in the year-ago quarter. The stock has a 52-week-high of $22.63 and a 52-week-low of $12.74. At the end of the last trading period, Sovos Brands closed at $22.56.

According to B of A Securities, the prior rating for Kilroy Realty Corp KRC was changed from Buy to Neutral. In the second quarter, Kilroy Realty showed an EPS of $1.19, compared to $1.17 from the year-ago quarter. The current stock performance of Kilroy Realty shows a 52-week-high of $54.30 and a 52-week-low of $25.99. Moreover, at the end of the last trading period, the closing price was at $38.09.

B of A Securities downgraded the previous rating for Douglas Emmett Inc DEI from Neutral to Underperform. In the second quarter, Douglas Emmett showed an EPS of $0.48, compared to $0.51 from the year-ago quarter. The stock has a 52-week-high of $22.98 and a 52-week-low of $10.09. At the end of the last trading period, Douglas Emmett closed at $14.63.

For FibroGen Inc FGEN, B of A Securities downgraded the previous rating of Neutral to Underperform. For the second quarter, FibroGen had an EPS of $0.90, compared to year-ago quarter EPS of $0.78. At the moment, the stock has a 52-week-high of $25.69 and a 52-week-low of $1.75. FibroGen closed at $1.77 at the end of the last trading period.

Loop Capital downgraded the previous rating for Alteryx Inc AYX from Buy to Hold. For the second quarter, Alteryx had an EPS of $0.37, compared to year-ago quarter EPS of $0.46. The current stock performance of Alteryx shows a 52-week-high of $70.63 and a 52-week-low of $34.70. Moreover, at the end of the last trading period, the closing price was at $37.62.

According to Wedbush, the prior rating for Chinook Therapeutics Inc KDNY was changed from Outperform to Neutral. Chinook Therapeutics earned $0.85 in the first quarter, compared to $0.54 in the year-ago quarter. The stock has a 52-week-high of $40.47 and a 52-week-low of $18.34. At the end of the last trading period, Chinook Therapeutics closed at $40.35.

According to BTIG, the prior rating for Proterra Inc PTRA was changed from Buy to Neutral. Proterra earned $0.29 in the first quarter, compared to $0.43 in the year-ago quarter. The current stock performance of Proterra shows a 52-week-high of $7.71 and a 52-week-low of $0.91. Moreover, at the end of the last trading period, the closing price was at $1.43.

According to Canaccord Genuity, the prior rating for Sage Therapeutics Inc SAGE was changed from Buy to Hold. For the second quarter, Sage Therapeutics had an EPS of $2.68, compared to year-ago quarter EPS of $2.13. The stock has a 52-week-high of $59.99 and a 52-week-low of $16.52. At the end of the last trading period, Sage Therapeutics closed at $16.75.

According to Needham, the prior rating for Sage Therapeutics Inc SAGE was changed from Buy to Hold. For the second quarter, Sage Therapeutics had an EPS of $2.68, compared to year-ago quarter EPS of $2.13. The stock has a 52-week-high of $59.99 and a 52-week-low of $16.52. At the end of the last trading period, Sage Therapeutics closed at $16.75.

BMO Capital downgraded the previous rating for Willis Towers Watson PLC WTW from Market Perform to Underperform. For the second quarter, Willis Towers Watson had an EPS of $2.05, compared to year-ago quarter EPS of $2.32. The current stock performance of Willis Towers Watson shows a 52-week-high of $258.93 and a 52-week-low of $197.50. Moreover, at the end of the last trading period, the closing price was at $211.60.

According to Jefferies, the prior rating for Enanta Pharmaceuticals Inc ENTA was changed from Buy to Hold. Enanta Pharma earned $1.86 in the third quarter, compared to $1.53 in the year-ago quarter. The stock has a 52-week-high of $75.73 and a 52-week-low of $17.93. At the end of the last trading period, Enanta Pharma closed at $19.34.

Stifel downgraded the previous rating for International Flavors & Fragrances Inc IFF from Buy to Hold. In the second quarter, Intl Flavors & Fragrances showed an EPS of $0.86, compared to $1.54 from the year-ago quarter. The current stock performance of Intl Flavors & Fragrances shows a 52-week-high of $129.17 and a 52-week-low of $75.18. Moreover, at the end of the last trading period, the closing price was at $80.34.

JP Morgan downgraded the previous rating for Freshpet Inc FRPT from Overweight to Neutral. Freshpet earned $0.35 in the second quarter, compared to $0.45 in the year-ago quarter. The stock has a 52-week-high of $84.70 and a 52-week-low of $36.13. At the end of the last trading period, Freshpet closed at $82.25.

JP Morgan downgraded the previous rating for Westlake Corp WLK from Neutral to Underweight. Westlake earned $2.31 in the second quarter, compared to $6.60 in the year-ago quarter. The stock has a 52-week-high of $138.39 and a 52-week-low of $81.39. At the end of the last trading period, Westlake closed at $133.95.

For Inogen Inc INGN, JP Morgan downgraded the previous rating of Neutral to Underweight. In the second quarter, Inogen showed an EPS of $0.25, compared to $0.02 from the year-ago quarter. The stock has a 52-week-high of $32.01 and a 52-week-low of $7.35. At the end of the last trading period, Inogen closed at $7.50.

For National Storage Affiliates Trust NSA, Stifel downgraded the previous rating of Buy to Hold. For the second quarter, National Storage had an EPS of $0.68, compared to year-ago quarter EPS of $0.71. The current stock performance of National Storage shows a 52-week-high of $58.10 and a 52-week-low of $32.15. Moreover, at the end of the last trading period, the closing price was at $32.95.

According to JMP Securities, the prior rating for UWM Holdings Corp UWMC was changed from Market Outperform to Market Perform. In the first quarter, UWM Hldgs showed an EPS of $0.07, compared to $0.22 from the year-ago quarter. The stock has a 52-week-high of $6.90 and a 52-week-low of $2.85. At the end of the last trading period, UWM Hldgs closed at $6.84.

According to Telsey Advisory Group, the prior rating for Lowe's Companies Inc LOW was changed from Outperform to Market Perform. In the first quarter, Lowe's Companies showed an EPS of $3.67, compared to $3.51 from the year-ago quarter. The stock has a 52-week-high of $237.21 and a 52-week-low of $176.62. At the end of the last trading period, Lowe's Companies closed at $223.30.

According to Telsey Advisory Group, the prior rating for The Home Depot Inc HD was changed from Outperform to Market Perform. In the first quarter, Home Depot showed an EPS of $3.82, compared to $4.09 from the year-ago quarter. The current stock performance of Home Depot shows a 52-week-high of $346.95 and a 52-week-low of $265.63. Moreover, at the end of the last trading period, the closing price was at $329.17.

For Sovos Brands Inc SOVO, William Blair downgraded the previous rating of Outperform to Market Perform. For the first quarter, Sovos Brands had an EPS of $0.18, compared to year-ago quarter EPS of $0.14. The current stock performance of Sovos Brands shows a 52-week-high of $22.63 and a 52-week-low of $12.74. Moreover, at the end of the last trading period, the closing price was at $22.56.

For Sovos Brands Inc SOVO, Stifel downgraded the previous rating of Buy to Hold. In the first quarter, Sovos Brands showed an EPS of $0.18, compared to $0.14 from the year-ago quarter. The current stock performance of Sovos Brands shows a 52-week-high of $22.63 and a 52-week-low of $12.74. Moreover, at the end of the last trading period, the closing price was at $22.56.

JP Morgan downgraded the previous rating for Sovos Brands Inc SOVO from Overweight to Neutral. Sovos Brands earned $0.18 in the first quarter, compared to $0.14 in the year-ago quarter. The current stock performance of Sovos Brands shows a 52-week-high of $22.63 and a 52-week-low of $12.74. Moreover, at the end of the last trading period, the closing price was at $22.56.

For Alteryx Inc AYX, Piper Sandler downgraded the previous rating of Overweight to Neutral. In the second quarter, Alteryx showed an EPS of $0.37, compared to $0.46 from the year-ago quarter. At the moment, the stock has a 52-week-high of $70.63 and a 52-week-low of $34.70. Alteryx closed at $37.62 at the end of the last trading period.

According to Keybanc, the prior rating for Maravai LifeSciences Holdings Inc MRVI was changed from Overweight to Sector Weight. In the second quarter, Maravai LifeSciences showed an EPS of $0.00, compared to $0.54 from the year-ago quarter. The current stock performance of Maravai LifeSciences shows a 52-week-high of $27.80 and a 52-week-low of $10.76. Moreover, at the end of the last trading period, the closing price was at $11.02.

For Sovos Brands Inc SOVO, Telsey Advisory Group downgraded the previous rating of Outperform to Market Perform. In the first quarter, Sovos Brands showed an EPS of $0.18, compared to $0.14 from the year-ago quarter. The current stock performance of Sovos Brands shows a 52-week-high of $22.63 and a 52-week-low of $12.74. Moreover, at the end of the last trading period, the closing price was at $22.56.

See all analyst ratings downgrades.

Initiations

For Sagimet Biosciences Inc SGMT, TD Cowen initiated coverage, by setting the current rating at Outperform. At the moment, the stock has a 52-week-high of $16.57 and a 52-week-low of $14.75. Sagimet Biosciences closed at $15.94 at the end of the last trading period.

For Apogee Therapeutics Inc APGE, TD Cowen initiated coverage, by setting the current rating at Outperform. The stock has a 52-week-high of $21.96 and a 52-week-low of $19.98. At the end of the last trading period, Apogee Therapeutics closed at $20.50.

SVB Leerink initiated coverage on Nuvalent Inc NUVL with a Market Perform rating. The price target for Nuvalent is set to $42.00. In the first quarter, Nuvalent showed an EPS of $0.44, compared to $0.36 from the year-ago quarter. The current stock performance of Nuvalent shows a 52-week-high of $50.59 and a 52-week-low of $14.81. Moreover, at the end of the last trading period, the closing price was at $44.62.

With an Outperform rating, SVB Leerink initiated coverage on IDEAYA Biosciences Inc IDYA. The price target seems to have been set at $33.00 for IDEAYA Biosciences. For the first quarter, IDEAYA Biosciences had an EPS of $0.49, compared to year-ago quarter EPS of $0.36. The stock has a 52-week-high of $26.35 and a 52-week-low of $9.01. At the end of the last trading period, IDEAYA Biosciences closed at $21.53.

With a Market Perform rating, SVB Leerink initiated coverage on Exelixis Inc EXEL. The price target seems to have been set at $18.00 for Exelixis. Exelixis earned $0.31 in the second quarter, compared to $0.28 in the year-ago quarter. At the moment, the stock has a 52-week-high of $22.04 and a 52-week-low of $14.88. Exelixis closed at $20.25 at the end of the last trading period.

With an Outperform rating, Wedbush initiated coverage on Apogee Therapeutics Inc APGE. The price target seems to have been set at $40.00 for Apogee Therapeutics. The stock has a 52-week-high of $21.96 and a 52-week-low of $19.98. At the end of the last trading period, Apogee Therapeutics closed at $20.50.

With a Buy rating, HC Wainwright & Co. initiated coverage on NextCure Inc NXTC. The price target seems to have been set at $7.00 for NextCure. NextCure earned $0.64 in the second quarter, compared to $0.65 in the year-ago quarter. At the moment, the stock has a 52-week-high of $5.26 and a 52-week-low of $1.16. NextCure closed at $1.70 at the end of the last trading period.

With a Buy rating, Stifel initiated coverage on Apogee Therapeutics Inc APGE. The price target seems to have been set at $34.00 for Apogee Therapeutics. The stock has a 52-week-high of $21.96 and a 52-week-low of $19.98. At the end of the last trading period, Apogee Therapeutics closed at $20.50.

Jefferies initiated coverage on Apogee Therapeutics Inc APGE with a Buy rating. The price target for Apogee Therapeutics is set to $29.00. The stock has a 52-week-high of $21.96 and a 52-week-low of $19.98. At the end of the last trading period, Apogee Therapeutics closed at $20.50.

Piper Sandler initiated coverage on Sagimet Biosciences Inc SGMT with an Overweight rating. The price target for Sagimet Biosciences is set to $67.00. The current stock performance of Sagimet Biosciences shows a 52-week-high of $16.57 and a 52-week-low of $14.75. Moreover, at the end of the last trading period, the closing price was at $15.94.

With a Buy rating, Guggenheim initiated coverage on Apogee Therapeutics Inc APGE. The price target seems to have been set at $29.00 for Apogee Therapeutics. At the moment, the stock has a 52-week-high of $21.96 and a 52-week-low of $19.98. Apogee Therapeutics closed at $20.50 at the end of the last trading period.

JMP Securities initiated coverage on Sagimet Biosciences Inc SGMT with a Market Outperform rating. The price target for Sagimet Biosciences is set to $30.00. The current stock performance of Sagimet Biosciences shows a 52-week-high of $16.57 and a 52-week-low of $14.75. Moreover, at the end of the last trading period, the closing price was at $15.94.

With a Buy rating, Goldman Sachs initiated coverage on Sagimet Biosciences Inc SGMT. The price target seems to have been set at $33.00 for Sagimet Biosciences. The stock has a 52-week-high of $16.57 and a 52-week-low of $14.75. At the end of the last trading period, Sagimet Biosciences closed at $15.94.

See all analyst ratings initiations.