RBC Capital's Brian Abrahams published a wave of biotech calls on Monday. He raised his target on VRTX to $570 from $543, keeping a Buy rating. He also lifted BIIB to $242 from $227 on a Buy. The two upgrades came alongside a busy day of pharma activity.
Not all was positive. Abrahams trimmed his REGN target to $696 from $707, while cutting GILD to $120. Both remain Hold-rated. RBC also nudged MRNA to a $45 target, up from $38, on a Hold. Moderna carries a notable 16.5% short interest as a percentage of free float. Bears remain heavy there.
The session's biggest rating surprise came from Erste Group. Analyst Hans Engel downgraded AVGO from Buy to Hold. Broadcom trades at a $1.78 trillion market cap. Its short interest is just 1.3% of free float. The downgrade follows a strong run in the stock.
Elsewhere, CVNA saw its consensus target edge up to $92.14. analysts lifted their group target to $83.64. received a $99 target, up from $95, from RBC.
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