Leading brokers name 3 ASX shares to sell today

Leading brokers have named Bubs Australia Ltd (ASX:BUB) and these ASX shares as sells this week. Here's why they are bearish…

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On Monday I looked at three ASX shares that brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below. Here's why these brokers are bearish on these ASX shares:

Bubs Australia Ltd (ASX: BUB)

According to a note out of Citi, its analysts have retained their sell rating and 35 cents price target on this infant formula company. This follows the release of a mixed third quarter update last week. The broker continues to believe that Bubs is in a difficult spot due to challenging market conditions in China which is seeing domestic players outperforming. Especially given how small its brand is. Furthermore, it feels that China's declining birth rate means the market could contract in the near future. The Bubs share price is trading at 40 cents today.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

A note out of Morgans reveals that its analysts have retained their reduce rating and $1.69 price target on this biopharmaceutical company's shares. According to the note, the broker wasn't surprised to see the US FDA put Paradigm's investigational new drug (IND) application on hold. Morgans believes that a decision could be months away, which will lead to further cash burn and uncertainty. The broker has previously stated that it sees risk to the viability of the company's osteoarthritis drug as a commercial asset. The Paradigm share price is fetching $2.33 today.

Premier Investments Limited (ASX: PMV)

Analysts at Goldman Sachs have retained their sell rating and $20.20 price target on this retail conglomerate's shares. This follows an update on its JobKeeper payment and guidance for FY 2021. According to the note, Premier Investments' earnings before interest and tax guidance of $318 million is largely in line with its estimates. However, this doesn't change its view on the company. With Goldman expecting its earnings to fall materially in FY 2022 and then remain flat into FY 2023, it feels its shares are expensive at the current level. The Premier Investments share price is trading at $26.12 this afternoon.

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