Published on March 1, 2014
3 Horrendous Health-Care Stocks This Week
The shortest month of the year is now over, but the last week of February proved to be a long one for these three horrendous health-care stocks.
Ampio Pharmaceuticals (Nasdaq: AMPE) The stock of the biopharmaceutical firm focusing on antiinflammatory drugs plunged nearly 21% for the week.
Why Ampio tanked • The company announced a secondary public offering of 8.5 million shares at $7 per share. • That amount was well below the current share price -- leading to the sharp drop. • Ampio plans to use the added cash in part to complete clinical trials for anti-inflammatory drug Ampion and diabetic macular edema drug Optina.
Questcor Pharmaceuticals (Nasdaq: QCOR) Shares of the biotech plunged more than 20% this week.
Why Questcor investors were quaking • A damaging report was published online by Citron Research. • Citron alleged that lab results of samples of Questcor’s primary drug, Acthar, contained little to none of its primary active ingredient, ACTH. • The FDA received Citron’s research and said the lab findings warrant an investigation. • The allegations overshadowed another solid earnings performance from Questcor announced this week.
Aegerion Pharmaceuticals (Nasdaq: AEGR) The stock of the biopharmaceutical company fell nearly 18% this week.
Why Aegerion shareholders were agitated • The company posted a Q4 loss of $0.47 per share -- worse than the expected $0.30-per-share loss. • Juxtapid generated $24.5 million in net product sales for the quarter, but analysts estimated revenue a tad higher at $24.9 million. • Aegerion’s full-year guidance of $190 million to $210 million in net product revenue was in the expected range but possibly disappointed investors wanting higher growth.
Best shot at bouncing back? • Questcor could very well rebound, but it’s best to wait for the questions to be resolved. • In my view, Aegerion has a great drug but needs to generate higher growth to justify its valuation. • Ampio’s secondary offering dilutes available shares by around 8% -- well below the 21% drop this week. • Because of this and the potential for its pipeline drugs, Ampio gets the nod for the best shot at bouncing back.
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