The following are some of the stocks that lost the largest percentage in price today in the pharma/biotech sector.
1. Axovant Sciences Ltd. (AXON)
Lost 56.98% to close Monday’s (Jan.8) trading at $2.31.
News: The Company’s phase II study of Intepirdine in patients with dementia with Lewy bodies, dubbed HEADWAY, and a pilot phase II study of Intepirdine in patients with dementia and gait impairment did not meet the trial goals.
Since there is no evidence to support further development, the Company has decided to pull the plug on Intepirdine.
2. Oxford Immunotec Global PLC (OXFD)
Lost 18.99% to close Monday’s trading at $11.39.
News: The Company announced lackluster preliminary revenue for Q4, and full year 2017.
For the fourth quarter of 2017, the Company expects revenue to be between $24.9 million and $25.4 million. Analysts polled by Thomson Reuters expect revenue of $26.1 million.
For the full year 2017, the Company expects revenue to range between $103.0 million and $103.5 million. Wall Street analysts expect revenue of $104.12 million.
The Company is slated to release complete financial and operating results for the fourth quarter and full year 2017 prior to market open on Tuesday, February 27, 2018.
3. Natus Medical Incorporated (BABY)
Lost 16.48% to close Monday’s trading at $30.40.
News: The Company announced that Q4 revenue is going to be lower than expected due to weakness in its U.S. Neurodiagnostic business. The outlook provided for 2018 is also well below analysts’ expectations.
Revenue is expected to be about $131.0 million to $132.0 million for the fourth quarter of 2017, and $500.5 million to $501.5 million for full year 2017. Analysts polled by Thomson Reuters expect revenue of $145.87 million for the fourth quarter, and revenue of $515.49 million for the full year of 2017.
For the first quarter of 2018, the Company expects to report revenue of $125 million to $127.0 million, and non-GAAP earnings per share of $0.23 to $0.24. Wall Street analysts expect the Company to report EPS of $0.37 and revenue of $129.71 million for Q1, 2018.
The Company is slated to report Q4, and full year 2017 financial results on January 30, 2018.
4. Momenta Pharmaceuticals Inc. (MNTA)
Lost 13.68% to close Monday’s trading at $15.15.
News: No news
The stock is giving back some of its gains made on Jan.5, 2018.
On Jan.5, 2018, the stock rose nearly 19% on positive top-line data showing safety, tolerability and proof of mechanism for M281 in a phase…