Selected stock price target news of the day - October 10th, 2024

By: Matthew Otto

Accolade Exceeds Q2 Expectations but Lowers Q3 Revenue Outlook

Accolade reported its Q2 2025 financial results, posting an EPS of ($0.30), which surpassed the analyst estimate of ($0.44) by $0.14. Revenue for the quarter reached $106.4 million, slightly exceeding the consensus estimate of $105 million.

Accolade reported a net loss of $23.9 million, an improvement from the $32.8 million net loss in the prior year. On a non-GAAP basis, Adjusted EBITDA showed marked progress, with a loss of $2.8 million compared to $8.8 million in 2023, and an adjusted gross margin of 47.3%, up from 44.2% in the previous year.

For future guidance, Accolade projects Q3 2025 revenue in the range of $104 to $107 million, which falls below the consensus of $110.2 million. For the full fiscal year 2025, Accolade expects revenue between $460 to $475 million, aligning closely with the consensus estimate of $467 million.

Analysts Adjust Price Targets Following Q2 Results

Truist Securities analyst Jailendra Singh maintained a Buy rating but lowered the price target from $9 to $7.5.
Canaccord Genuity analyst Richard Close continued with a Buy rating and reduced the price target from $13 to $7.
Barclays analyst Stephanie Davis held an Equal-Weight rating while cutting the price target from $5.5 to $5.
Stephens & Co. analyst Jeff Garro maintained an Overweight rating yet decreased the price target from $10 to $8.
Needham analyst Ryan MacDonald reiterated a Buy rating and the price target at $8.

Which Analyst has the best track record to show on ACCD?

Analyst David Grossman (STIFEL) currently has the highest performing score on ACCD with 4/10 (40%) price target fulfillment ratio. His price targets carry an average of $4.41 (122.84%) potential upside. Accolade stock price reaches these price targets on average within 119 days.

Morgan Stanley Upgrades Affirm on Potential to Attract Higher-Income Consumers

Affirm Holdings has seen a shift in its consumer base, according to analysts at Morgan Stanley, James Faucette, who upgraded the stock to Equal Weight from Underweight. Faucette raised their price target from $20 to $37.

Faucette noted improvements in Affirm’s ability to attract higher-income consumers, a shift they believe will support long-term growth. Affirm has introduced three key tools to appeal to this demographic: distribution through Apple Wallet, increased merchant and manufacturer-sponsored 0% and low-interest rate offers, and better pricing strategies through lower interest rates.

BTIG analyst, Vincent Caintic, also upgraded Affirm stock to Buy from Neutral, with a price target of $68, citing the Affirm’s path to profitability and its growing market share in consumer point-of-sale finance.

Analysts Adjust Ratings and Targets Amid Positive Developments

Morgan Stanley analyst James Faucette upgrades Affirm Holdings from Underweight to Equal-Weight, while raising the price target from $20 to $37.
BTIG analyst Vincent Caintic upgrades Affirm Holdings from Neutral to Buy, and announces a new price target of $68.
RBC Capital analyst Daniel Perlin reiterates a Sector Perform rating for Affirm Holdings, but maintains the price target at $46.

Which Analyst has the best track record to show on AFRM?

Analyst Vincent Caintic (BTIG) currently has the highest performing score on AFRM with 4/6 (66.67%) price target fulfillment ratio. His price targets carry an average of $-27.86 (-63.52%) potential downside. Affirm Holdings stock price reaches these price targets on average within 194 days.

Sage Therapeutics Reports Phase 2 Trial Results for Alzheimer’s Treatment

Sage Therapeutics announced results from its Phase 2 clinical trial evaluating dalzanemdor in patients with mild cognitive impairment or mild dementia due to Alzheimer’s Disease. The trial failed to show a statistically significant difference from baseline in the Wechsler Adult Intelligence Scale Fourth Edition (WAIS-IV) Coding Test score at Day 84, the primary outcome measure, with scores not significantly better than those of the placebo group.

Alzheimer’s Disease, a progressive neurodegenerative disorder, affects an estimated 6.7 million individuals aged 65 and older in the United States, according to the Alzheimer’s Association. This figure is projected to increase to 14 million by 2060 if no effective treatments are developed. The disease is characterized by cognitive decline, including memory loss and impaired reasoning, and is currently the sixth leading cause of death in the U.S.

In light of the recent trial results, Sage Therapeutics has stated it will not pursue further clinical development of dalzanemdor for Alzheimer’s treatment. However, Sage Therapeutics plans to share data from an ongoing study of dalzanemdor in patients with cognitive impairment associated with Huntington’s Disease later this year. CEO Barry Greene emphasized the need for more treatment options, stating, Alzheimer’s Disease is an incredibly complex and devastating condition, and people with related mild cognitive impairment and mild dementia need more treatment options.

Analyst Mixed Outlook with Price Target Adjustments

Raymond James analyst Danielle Brill reinstated with a Market Perform rating.
BofA Securities analyst Tazeen Ahmad maintained an Underperform rating while lowering the price target from $11 to $6.
Wedbush analyst Laura Chico kept a Neutral rating and reduced the price target from $9 to $8.
Baird analyst Joel Beatty maintained a Neutral rating, yet lowered the price target from $13 to $9.
HC Wainwright & Co. analyst Douglas Tsao reiterated a Neutral rating and a $25 price target.
Needham analyst Ami Fadia reiterated a Hold rating.

Which Analyst has the best track record to show on SAGE?

Analyst Ritu Baral (TD COWEN) currently has the highest performing score on SAGE with 7/13 (53.85%) price target fulfillment ratio. His price targets carry an average of $-0.8 (-7.41%) potential downside. Sage Therapeutics stock price reaches these price targets on average within 241 days.