NEW YORK (TheStreet) -- RATINGS CHANGES
Acadia Pharmaceuticals (ACAD - Get Report) was downgraded to neutral from overweight by Piper Jaffray, which set a $48 price target, saying the company will likely need more financing and lacks near-term catalysts.
Alnylam Pharmaceuticals (ALNY) was downgraded to neutral from overweight by JP Morgan, which set a $115 price target. The downgraded is based on valuation, not a fundamental call, as JP Morgan said its model maxed out in absence of pivotal data.
Chemours (CC - Get Report) was upgraded to neutral from underweight by JP Morgan, which set an $11 price target, saying the shares have fallen sharply since late June, but S&P 500 Index has fallen by 2% lower. Chemours is reducing costs in an environment of falling product prices, JP Morgan said.
Cornerstone OnDemand (CSOD) was upgraded to outperform from neutral by Credit Suisse, which set a $48 price target, saying that management is improving execution.
Fairchild Semiconductor (FCS) was downgraded to hold from buy by Drexel Hamilton, which set a $15 price target, saying that distributor channels continue to work down inventory.
Ophthotech (OPHT) was downgraded to sell from neutral by Goldman Sachs, which cited valuation, based on a $45 price target.
Shutterstock (SSTK - Get Report) was downgraded to hold by Jefferies, which set a $39 price target, saying that estimates have also been cut, given management's new guidance for lower eCommerce customer growth.
Springleaf (LEAF - Get Report) was upgraded to buy from neutral by Sterne Agee CRT, which set a $58 price target, saying that either the OneMain acquisition clears or the company will buy back more stock.
TCP International (TCPI) was downgraded to hold from buy by Deutsche Bank, which set a $5 price target. While LED adoption rates are accelerating, increased pricing pressure could present some headwinds in driving incremental revenue growth from this segment, Deutsche Bank said.
Tangoe (TNGO) was downgraded to buy from hold by Deutsche Bank, which set a $10 price target, saying that it is cautious on Tangoe's near-term financial goals.