December 15, 2016: Here are four stocks trading with relatively heavy volume among 65 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers led decliners by about 8 to 7 and on the Nasdaq advancers led decliners by more than 4 to 3.
Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped about 7.9% on Thursday to post a new 52-week low of $13.00 against a 52-week high of $117.65 and a Wednesday close of $14.12. Volume of nearly 36 million was about double the daily average of around 18 million. Morgan Stanley downgraded the shares from Overweight to Equal Weight and lowered the price target from $25 to $17.
Himax Technologies Inc. (NASDAQ: HIMX) dropped about 8.8% on Thursday to post a new 52-week low of $5.97 after closing at $6.46 on Wednesday. The stock’s 52-week high is $10.95. Volume was more than double the daily average of around 3.8 million shares. The company had no specific news Thursday.
Pacific Biosciences of California Inc. (NASDAQ: PACB) dropped more than 43% Thursday to post a new 52-week low of $3.91 after closing Wednesday at $6.90. The 52-week high is $14.00. Volume of around 8.8 million was nearly 96 times the daily average of around 990,000 shares traded. The company announced this morning that it has terminated a development and supply deal with Hoffman-LaRoche.
Ophthotech Corp. (NASDAQ: OPHT) dropped about 8.1% on Thursday to post a new 52-week low of $4.53 after closing at $4.93 on Wednesday. The stock’s 52-week high is $80.00. Volume of about 8.3 million shares was more than 4 times the daily average of about 2.1 million. The company’s stock continues to bleed following Monday’s announcement of a failed late-stage clinical trial.
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