The broad markets are holding steady near their double bottom set this summer. However, over the course of the past week this has been tested. Quite a few companies were responsible for sending the markets lower, whether it was the result of earnings or other developments.
Some companies are hitting lows and creating huge shareholder losses while the market is staying in this range. These are the same companies holding back the market and punishing shareholders.
We have included a little color on why each stock has lagged, as well as a recent trading history, consensus analyst price target and a 52-week trading range.
On Tuesday, Dipexium Pharmaceuticals Inc. (NASDAQ: DPRX) shares tumbled after the company announced data from a late-stage trial. The company said that its OneStep-1 and OneStep-2 Phase 3 clinical trials of Locilex (pexiganan cream 0.8%) in patients with mild infections of diabetic foot ulcers did not meet the primary clinical endpoint and also did not show any meaningful difference in wound closure rate.
Neither trial met the secondary endpoint of demonstrating a higher rate of eradication of bacteria for the Locilex arm. While the overall adverse event incidence was comparable to vehicle alone, serious adverse events with Locilex included higher than anticipated osteomyelitis and cellulitis in the Locilex arm of each study.
Over the past week, Dipexium shares dropped by 85%. The stock closed trading at $1.75 on Friday, with a Thomson Reuters consensus price target of $12.00 and a 52-week trading range of $1.80 to $17.75.
Shares of ReWalk Robotics Ltd. (NASDAQ: RWLK) dropped after it announced the pricing of a secondary offering. According to the prospectus, the company is offering 3.25 million units at the price of $3.75 per unit. Each unit consists of one share and 0.75 of a warrant to purchase one ordinary share with an exercise price of $4.75. Oppenheimer is acting as the sole underwriter for the offering, and it has an option to purchase an additional 487,500 units.
The company intends to use the net proceeds of the offering for general corporate purposes, including supporting its ongoing sales, marketing and reimbursement efforts to grow its business and funding research and development activities focused on product development.
Shares dropped by 41% last week, hitting a 52-week low of $2.90 on Friday. The consensus price target is $11.75, and the 52-week high is $17.40.
Friday morning, Opexa Therapeutics Inc. (NASDAQ: OPXA) shares were in free fall after the company reported results from its mid-stage trial for the treatment of secondary progressive multiple sclerosis. The company said that its Phase 2b Abili-T clinical trial evaluating the efficacy and safety of Tcelna did not meet its primary endpoint of reduction in brain volume change (atrophy), nor the secondary endpoint for the reduction of the rate of sustained disease progression.
Over the past week, Opexa shares retreated 66%. They were last trading at $1.05. The consensus price target is $9.33, and the 52-week range is $1.00 to $5.10.
When Groupon Inc. (NASDAQ: GRPN) released its third-quarter financial results late Wednesday, it posted a net loss of $0.01 per share and $720.5 million in revenue. The consensus estimates called for a net loss of $0.02 per share on revenue of $707.8 million. Global units sold declined 5% year over year to 49 million, primarily driven by country exits and restructuring efforts in international segments.
The company is raising its revenue guidance range to between $3.075 billion and $3.150 billion for the full year, and narrowing its expected 2016 adjusted EBITDA range to between $150.0 million and $165.0 million. Consensus estimates call for $748.13 million in revenue for the fourth quarter and $3.1 billion in revenue for the full year.
Over the past week, the stock dropped by 16%. Shares were trading at $4.06 on Friday’s close, with a consensus price target of $5.24 and a 52-week range of $2.15 to $5.94.
Third-quarter results from Under Armour Inc. (NYSE: UA) were announced early Tuesday. The company had $0.29 in earnings per share (EPS) and $1.47 billion in revenue, versus consensus estimates from Thomson Reuters that called for $0.25 in EPS and $1.45 billion in revenue. The same period of last year reportedly had EPS of $0.23 on $1.2 billion in revenue. During the third quarter, wholesale net revenues grew 19% year-over-year, while Direct-to-Consumer net revenues grew 29% in the same time.
In terms of the full-year outlook, the company expects to have $4.925 billion, representing growth of 24% over 2015, and 2016 operating income of $440 million to $445 million, representing growth of 8% to 9% over 2015.
Although this company beat estimates on both the top and bottom lines, the stock was still down handily. Shares dropped by 17% over the past week, closing out at $30.94. The consensus price target is $38.60, and the 52-week range is $30.63 to $48.77.
After the markets closed on Thursday, Amgen Inc. (NASDAQ: AMGN) reported its third-quarter financial results. Despite relatively strong results, it was not enough for investors and they sent shares lower.
The company said that it had $3.02 in earnings per share (EPS) and $5.81 billion in revenue. Consensus estimates had called for $2.79 in EPS and revenue of $5.74 billion. In the same period of last year, the biotech giant posted EPS of $2.72 and $5.72 billion in revenue.
In terms of guidance for the full year, the company expects to have EPS in the range of $11.40 to $11.55 and revenues between $22.6 billion and $22.8 billion. Both forecasts increased from their previous levels. The consensus estimates for the full year are $11.36 in EPS and $22.77 billion in revenue.
Over the past week, Amgen shares fell by nearly 10%. They were last seen at $145.20. The consensus price target is $189.41, and the 52-week range is $139.02 to $176.85.