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Thursday Morning’s Market Insights: Paypal Holdings Inc (PYPL), Seadrill Ltd (SDRL), Galena Biopharma Inc (GALE), Himax Technologies, Inc. (ADR) (HIMX)

By Kate George 

Paypal Holdings Inc (NASDAQ:PYPL) fell 1.32% this morning down to $35.85 due to reports that Apple has a competing service in the works. According to a WSJ report, Apple is in talks with U.S. banks to create a person-to-person payment system. The system is strikingly similar to Venmo, a PayPal company, which allows users to pay each other through a mobile app. The app hooks up to the user’s bank account and has been embraced for its convenience and effectiveness. Despite the news that Apple will enter the field as a competitor, Citi analyst Ashwin Shirvaikar reiterated a Buy rating on PayPal, noting that a competing product from Apple will not impact Venmo’s near-term growth. According to the 26 analysts polled by TipRanks in the last 3 months, 16 are bullish on the company, 3 are bearish, and 7 are neutral. The average 12-month price target between the 26 analysts is $41.28, marking a 13.63% potential upside from current levels.

Click here to see Ashwin Shirvaikar’s past ratings and performance history.

Galena Biopharma Inc (NASDAQ:GALE) was up nearly 11% in pre-market trading to $1.62 after the stock was upgraded from Sector Perform to Outperform by Ling Wang at Oppenheimer. Wang assigned a $4 price target after the company posted third quarter earnings yesterday, in which it announced a net loss of $18 million and a loss of ($0.11) per share. However, the report made headlines for the company’s decision to divest its commercial business in order to focus on its core immunotherapy pipeline. Wang weighed in on this decision, noting, “We applaud this decision and view the divestiture as a meaningful step toward unlocking value, as it allows focusing capital and effort exclusively on the high-value cancer immunotherapy pipeline.” According to the 3 analysts polled by TipRanks in the last 3 months, all of them are bullish on GALE. The average 12-month price target on the stock is $6.50, marking a 345% potential upside from where shares last closed.

Click here to see Ling Wang’s past ratings and performance history.

Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) was up 1.47% this morning in pre-market trading following the release of its Q3 earnings report. The semi-conductor company posted revenues of $165.6 million, beating management’s guidance of $154 million to $160.7 million for the quarter. Non-GAAP earnings per share were $0.01, meeting company guidance of between $0.01-$0.03 per share. CEO Jordan Wu credits the increase in revenue to high sales and market share success in China. He states “While still maneuvering carefully in a market with low visibility, we remain optimistic about our active and ongoing design-in activities with leading customers in both driver IC and non-driver products.” According to TipRanks’ statistics, out of the 4 analysts who have rated HIMX in the last 3 months, 3 gave a Buy rating while one remains on the sidelines. The average 12-month price target for HIMX is $8.92, marking a 46% upside from where shares last closed.

SeaDrill Limited (NYSE:SDRL) fell 1.9% this morning in pre-market trading following news of a drop in oil prices. This drop stems from Tuesday’s data of an increase in U.S. stockpiles, which increased to 461.1 million barrels in the week of November 6, marking a 6.3 million barrel increase. WTI crude oil is down to $43.03 per barrel, marking a 2.67% prop, while Brent crude is down 3.2% to $45.92. According to TipRanks, out of the 3 analysts who have rated SDRL in the past 3 months, 2 have rated it a Sell while 1 remains on the sidelines. The average 12-month price target for SDRL is $9.00, marking a 42.86% increase from where shares last closed.