Fly Intel: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. BioNTech (BNTX) downgraded to Sell from Neutral at Redburn with analyst Simon Baker saying the share gains since the end of March factor in more than the increase in value implied by recent guidance upgrades and revenue expectations for its Covid-19 vaccine. 2. U.S. Steel (X) downgraded to Underweight from Neutral at JPMorgan with analyst Michael Glick saying he is taking a "barbell approach" to his ratings, and cites the stock's outperformance year-to-date, lower out-year free cash flow, and "clunkier" asset base relative to Cliffs for the downgrade. 3. Insight Enterprises (NSIT) downgraded to Neutral from Overweight at JPMorgan with analyst Paul Coster citing valuation for the downgrade with the shares up 40% year-to-date and 110% year-over-year. 4. Sage Therapeutics (SAGE) downgraded to Market Perform from Outperform at William Blair with analyst Tim Lugo saying the data from the WATERFALL study support registration, but show a marginal benefit for zuranolone at the 50 mg dose, which could limit the commercial opportunity for the product and will likely lead to payer pushback. 5. ResMed (RMD) downgraded to Underperform from Neutral at BofA with analyst Lyanne Harrison believing that the market has over-reacted on positive side to a competitor's product recall and cites valuation for the rating change with shares trading at an all-time high price. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.