J C Penney Company Inc (NYSE:JCP) received an investment-rating downgrade Monday from analysts at UBS to a sell rating from neutral. The firm set its price target on the department-store operator's stock at $5, implying the firm expects a decline of 30% from the stock's Friday closing price. Shares of JCP were up 7.7% at $7.67 in recent pre-market trading, boosted after the company named Marvin Ellison, currently executive vice president of stores at Home Depot (HD), as president and CEO-Designee, effective Nov. 1. Ellison will also join the board and the company plans to have him succeed CEO Myron Ullman III as CEO on Aug. 1, 2015. At that time, Ullman will become Executive chairman for one year. J C Penney Company Inc (NYSE:JCP) has a 52-week trading range of $4.90 to $11.30.
Tokai Pharmaceuticals Inc (NASDAQ:TKAI), the clinical-stage biopharmaceutical company received a buy investment rating from Janney Capital Markets, which initiated coverage of the stock with a fair value estimate of $21 per share. The price target is 78% above the stock's Friday closing price of $11.82. Tokai Pharmaceuticals Inc (NASDAQ:TKAI) have traded in a 52-week range of $9.67 to $30.00, with the low end of that range hit in Friday's regular session. "We view TKAI's main value driver, galeterone, as a first-in-class and best-in-class, selective and multi-targeted small molecule that should offer advantages over existing prostate cancer therapies," Janney told clients in a note, adding that galeterone's value proposition "lies in its unique mechanism of action (MOA) that can confer efficacy in a resistant population and improved safety." The firm also said "activity in castration-resistant prostate cancer (CRPC) and C-terminal loss should provide a quicker pathway to market and significant expansion opportunity, in our view."The Ensign Group, Inc. (NASDAQ:ENSG) said Monday it agreed to buy nine skilled nursing and assisted-living facilities in California from Shea Family Care for an undisclosed cash amount. The provider of skilled nursing and rehabilitative care services also said it will acquire a home-health agency and a private home-care business located in California. The acquisitions should be finalized in Q4 201 and the company expects them to boost its earnings in 2015. The Ensign Group, Inc. (NASDAQ:ENSG) said the acquisitions expand its portfolio to 136 healthcare facilities, nine hospice companies, 12 home health businesses, two home care businesses and 14 urgent-care clinics.
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