Reynolds American, Inc. (RAI), MGP Ingredients Inc (MGPI), and More: Here’s What Analysts Had To Say About These Stocks in the Spotlight

Alkermes Plc (NASDAQ:ALKS) received more confidence from David Risinger of Morgan Stanley on Friday, as the analyst upgraded the stock to ‘Equal Weight’ from ‘Underweight’ and hiked his price target to $62 per share from $45. After successful data from a Phase 3 trial, FORWARD-5, was released, Risinger estimated that the odds of FDA approval for the company’s lead drug candidate, ALKS 5461, had risen to around 50%. Although the stock is still risky, the market for the company’s potential later-line MDD drug could be vast. A total of 25 funds followed by our team had a bullish position in Alkermes Plc (NASDAQ:ALKS) at the end of June, down by one from the previous quarter.

Cyberark Software Ltd (NASDAQ:CYBR) received the thumbs up from Howard Smith of First Analysis on Friday, as the analyst initiated coverage on the stock with a $60 price target and an ‘Overweight’ rating. Smith is bullish because he thinks CyberArk will grow its market share and continue to expand its margins and free cash flow. The recent cyber-attacks on a certain DNS provider has also helped sentiment. The number of funds with holdings in Cyberark Software Ltd (NASDAQ:CYBR) went up by three quarter-over-quarter to 22 at the end of June.

Proofpoint Inc (NASDAQ:PFPT) received a boost from Stephens analyst Jonathan Ruykhaver, who raised his price target to $90 from $80 and maintained his ‘Overweight’ stance after Proofpoint reported better-than-expected third-quarter results on the last day of the trading week. Ruykhaver believes Proofpoint’s management will deliver a strong performance in 2017 due to the combination of cross selling, high renewal rates, and robust organic business wins. According to our data, 20 funds had a bullish position in Proofpoint Inc (NASDAQ:PFPT) at the end of June, down by two funds from the previous quarter.

Disclosure: None