Investing

4 Stocks That Punished Shareholders Last Week

Chris Lange

Published: January 23, 2016 10:15 am

Last Updated: January 13, 2020 2:40 pm

This was the third week of trading for 2016, and many shareholders were affected this week as we saw broad markets and China crumble. Both the Dow Jones Industrial Average and S&P 500 felt an impact from China’s semiconductor issues, but some companies absolutely destroyed shareholders, for multiple reasons, and the broad markets help give that extra push down.

While these were not the four biggest absolute losers of the week, of the active stocks, these all issued news or had news that took place and pushed the stocks down. 24/7 Wall St. has tracked four companies that punished shareholders last week.

Alkermes

Less than favorable trial results absolutely tanked Alkermes PLC (NASDAQ: ALKS) early Thursday morning. The company announced preliminary top-line results from the first two of three Phase 3 efficacy studies (Forward-3 and Forward-4) for ALKS 5461.

Neither of these two studies met the prespecified primary efficacy endpoint, but in this type of clinical trial statistical analysis is not always on point. The company did note in its release that “Negative trials due to significant placebo effect are not uncommon in the study of major depressive disorder.”

Over the course of the week, the stock dropped roughly 42%, and it is down 54.4% year to date. Shares of Alkermes were trading at $36.16 at the end of Friday’s session, with a consensus analyst price target of $58.00 and a 52-week trading range of $32.41 to $80.71.

24/7 Wall St.
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