Analysts are updating their price targets and impressions on Google (GOOGL) ahead of its quarterly earnings out after the close Thursday, while Facebook (FB) got positive reviews and its stock hit an all-time high. Pivotal Research analyst Brian Wieser cut his rating on Google to hold from buy, citing “significant negative headwinds” from foreign currency exchange rates. Wieser also lowered his price target on Google stock to 570 from 640. RBC
Palo Alto Networks (PANW) topped the list of security companies in a second-quarter survey of more than two dozen resellers by investment bank Piper Jaffray. Separately, another analyst initiated coverage on Palo Alto Networks, estimating that the company’s revenue could rise at a 30%-plus clip each of the next five years. “Palo Alto has consistently outperformed in our quarterly reseller survey, though we noted a solid uptick in demand trends
Biotechs Anacor Pharmaceuticals (ANAC) and Regeneron Pharmaceuticals (REGN) were both trading up Monday on the potential of their drug candidates for atopic dermatitis (AD). Anacor stock soared 55% to a new high above 131 on the strength of late-stage trial results for its ointment Crisaborole. The company said half the patients with mild to moderate AD — a recurring skin inflammation of unknown origin — were clear or almost clear of the rash