Aurinia Pharmaceuticals Gets 91% Upside PT From Canaccord Genuity

Aurinia Pharmaceuticals got a new $11 price target from Canaccord Genuity today. Dang! That's only 91.3% upside from the current price of $5.75!

The upgrade seems to be about Voclosporin (VCS), Aurinia Pharmaceutical's investigational therapy for patients with active lupus nephritis and moving through Phase III testing. As VCS is directed to an autoimmune disease that has been targeted by Big Pharma companies looking for the next multi-billion dollar drug (FBR projects VCS could achieve more than $2 billion in annual peak sales), Aurinia could receive an acquisition bid from a Big Pharma company at $11 per share.

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Mulesoft Stock Gets Buy Rating From Canaccord Genuity

Mulesoft stock received a Buy rating from Canaccord Genuity and a price target of $29 which represents a 25% upside from the previous close.

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Amazon Large Players Volume Surging On Credit Suisse Outperform Rating

Amazon Inc's large players volume is surging higher after it had its Outperform rating reaffirmed by analysts at Credit Suisse. Credit Suisse now has a $1,350 price target on the stock, up previously from $1,100.00. This represents 35.7% upside from the previous close of $995.00.

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Why Tony Dwyer Is Wrong That Stocks Are a Terrific Buy

Tony Dwyer of Canaccord Genuity says that there’s this narrative out there that the yield curve flattening is telling you that the economy is closer to recession and the stock market is in trouble. Tony Dwyer disagrees and thinks the yield curve shows that now is a terrific time to buy stocks (link to CNBC article above).

Tony Dwyer says that the U.S. Treasury yield curve as measured by the six month to 10-year spread has historically signaled at least two more years until a bull market peaks and then goes into a recession.

The yield curve could continue to flatten for another two years before going flat or inverted and then once it does, it takes another 3 to 6 months for a recession to hit so Tony Dwyer could be right about the 2 year time-line but his logic is wrong.

The problem with Dwyer’s logic is that you can’t just look at the spread. You have to consider that the current rate hike cycle is different than any other cycle Dwyer uses on his chart. Never before has the Fed hiked rates in an economy this weak with inflation so low.

To accept Dwyer’s argument, you’d need to really embrace tunnel vision and losing sight of the forest for the trees.

Tetra Tech Awarded $45 Million US Army Contract

May 31, 2016: Canaccord Genuity raised Tetra Tech Inc to a Buy rating, from Hold, and set a price target of $37. Canaccord analyst raise price target $37 from $30, citing increased…

May 31, 2016: Canaccord Genuity raised Tetra Tech Inc to a Buy rating, from Hold, and set a price target of $37. Canaccord analyst raise price target $37 from $30, citing increased...

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