3 stocks crushed by the market this week 06-06-14


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3 of this week's worst healthcare stocks

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  • http://www.fool.com/investing/general/2014/02/06/why-medidata-solutions-inc-shares-dipped.aspx
  • http://www.fool.com/investing/general/2014/02/06/why-affymetrix-inc-shares-dropped.aspx
  • http://www.fool.com/investing/general/2014/02/06/why-medidata-solutions-inc-shares-dipped.aspx
  • http://www.fool.com/investing/general/2014/02/06/why-medidata-solutions-inc-shares-dipped.aspx
  • 3 stocks crushed by the market this week 06-06-14

    1. 1. 3 Stocks Crushed by the Market This Week
    2. 2. It was a great week on Wall Street – but not for everyone. Here are three of the biggest losers in the health-care industry.
    3. 3. The biopharmaceutical company’s shares plunged 29% for the week. Retrophin (NASDAQ:RTRX) Source: Yahoo! Finance
    4. 4. • An SEC filing on Wednesday revealed that Retrophin CEO Martin Shkreli sold over 9% of his shares in the company • Investors were not pleased about this insider selling, which raised some concerns about the company • Shkreli’s timing wasn’t necessarily the best – Retrophin’s stock hit over $23 per share in April, while the CEO sold 292,400 of his shares for $15.14 Why Retrophin shareholders revolted
    5. 5. Shares of the biotech dropped nearly 25% this week. Puma Biotechnology (NYSE:PBYI) Source: Yahoo! Finance
    6. 6. • Puma announced disappointing phase 2 clinical data for breast cancer drug PB272 • Only three of the 40 patients in the study had a partial response • A significant number of patients in the study experienced grade 3 or higher diarrhea • Puma also got knocked by rival GlaxoSmithKline’s (NYSE:GSK) report that its cancer drug Tykerb failed to meet primary endpoints in a phase 3 study • Glaxo’s news particularly impacted Puma because PB272, like Tykerb, had good results from pre-operative studies that were hoped to be solid predictors of the drugs’ efficacy Why Puma’s stock was pummeled
    7. 7. The stock of the biotech fell 22% this week. Clovis Oncology (NASDAQ:CLVS) Source: Yahoo! Finance
    8. 8. • Clovis got hit by a double-whammy this week • The company announced disappointing clinical results last weekend for lung cancer drug CO-1686 • On Tuesday, Citigroup downgraded the stock, stating that a rival drug from AstraZeneca (NYSE:AZN) was superior to CO-1686 • Clovis CEO Patrick Mahaffy still maintains that his company could beat AstraZeneca because of the encouraging progression- free survival rates for CO-1686 Why Clovis shares got clobbered
    9. 9. • Retrophin’s comeback depends on why the CEO sold so many shares – investors could be wary of forthcoming bad news • Puma could also rebound with a potential overreaction on Glaxo’s disappointing Tykerb results • Clovis seems to have the best shot at bouncing back, though • The huge drop in shares could set up Clovis for future success with any good news about CO-1686 – and there could be some of that in store Best shot at bouncing back?
    10. 10. Find out which stock The Motley Fool’s chief investment officer selected as the top pick for 2014 in our free report!