The 52-Week Low Club for Tuesday
March 1, 2016: Here are four stocks trading with heavy volume among 44 equities making new 52-week lows today.
Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped about 9% on Tuesday to post a new 52-week low of $59.88 against a 52-week high of $263.81. The stock closed at $65.80 on Monday night. Volume rose to about 35 million shares, about 34 times the stock’s daily average volume of around 8.7 million. The embattled drugmaker continues to see its share price tumble as it took another downgrade this morning. Shares actually climbed back above the break-even line late in the afternoon, but it may be a brief visit.
Ocwen Financial Corp. (NYSE: OCN) posted a second consecutive new 52-week low on Tuesday. Shares traded at a low of $2.06, down nearly 46%, after closing at $3.79 on Monday. The stock’s 52-week high is $11.82. Volume totaled about 15 times the daily average of around 2.4 million shares. The financial firm missed revenue estimates Monday and revealed today that it is the subject of another SEC investigation.
PTC Therapeutics Inc. (NASDAQ: PTCT) fell by nearly 34% on Tuesday to post a new 52-week low of $5.29 against a high of $78.72. The stock closed at $7.98 on Monday night. Volume rose to nearly 12 million shares, nearly 9 times the daily average of about 1.6 million shares traded. The company released missed estimates last night and several analysts cut price targets this morning.
Exact Sciences Corp. (NASDAQ: EXAS) dropped by nearly 7% on Tuesday to post a new 52-week low at $4.68 after closing at $5.03 on Monday. The stock’s 52-week high is $32.85. Share volume totaled more than double the daily average of around 2 million shares traded. The company had no specific news today.