Analysts are weighing in on biotech stock Juno Therapeutics (NASDAQ:JUNO), apparel retailer Tailored Brands Inc (NYSE:TLRD), and automotive supplier Lear Corporation (NYSE:LEA). Here's a quick roundup of today's bearish brokerage notes on shares of JUNO, TLRD, and LEA.
BTIG downgraded Juno Therapeutics stock to "sell" from "neutral," sending JUNO shares down 4.8% to trade at $22.58. Still, the shares remain in their channel of higher lows from late 2016, boasting a year-to-date lead of 19%. At the same time, JUNO stock may need to pick up the pace to avoid additional price-target cuts, since its average 12-month price target stands up at $29.50. On the fundamental front, Juno Therapeutics will present at Goldman Sachs' healthcare conference on Tuesday, June 13.
Tailored Brands reported weaker-than-expected first-quarter earnings, prompting analysts at Deutsche Bank to cut their price target by 33% to $14. In addition, Jefferies trimmed its price target by $2 to $12. The shares have dropped 2.9% to trade at $10.89, as they continue to underperform, though the move pales in comparison to what TLRD options traders were expecting. Tailored Brands stock was trading near $29 back in December; interestingly, it appears a number of short sellers cashed out too soon. During the last reporting period, short interest on TLRD stock declined by 12.2%.
Lear Corporation stock is down 2.3% at $149.41, after Morgan Stanley downgraded the shares to "underweight" from "equal weight," and slashed its price target to $134 from $149. LEA stock's uptrend is still in place, however, as it's added almost 27% in the past 12 months, hitting a record high of $153.28 on June 2. Short-term options traders are seemingly well positioned for today's pullback. This is according to Lear's Schaeffer's put/call open interest ratio (SOIR) of 1.14, which ranks in the 83rd annual percentile. This means short-term options tradersare more put-skewed than normal.