Stockpickr Lists: DepoMed Sinks on Drug Trial
Editor's note: In this feature from Stockpickr, we highlight lists of stocks that have made new highs, lows or seen other unusual activity.
Biggest % Losers: Menlo Park, Calf.-based drugmaker DepoMed (DEPO) sank 60% after it posted disappointing results in a late-stage clinical trial of its Gabapentin GR extended-release tablet for nerve pain. Shares closed down $2.93 to $2.00.
52-Week Lows: Shares of The Pantry (PTRY) fell to a 52-week low of $39.82 after the southern gas station operator cut full-year guidance. The company, which also operates convenience stores, said it expects to report earnings per share of between $1.65 and $1.80, below its earlier guidance. Tuesday shares fell 15% or $6.85.
Biggest % Gainers: Medical appliances and equipment maker Fonar (FONR) soared 78% Tuesday, after the company reported it has sold Seven Upright Multi-Position MRI machines during the previous two weeks. Since the beginning of the year, sales by other manufacturers have steadily declined, though Fonar is growing well ahead of the pack. The stock closed up $3.29 to $7.50.52-Week Highs: Echelon (ELON) surged 32% to a 52-week high after announcing Tuesday that McDonald's (MCD) chose the company's power line networking technology for its restaurant kitchen equipment. The industrial control systems and software maker's shares closed up $4.98, reaching $20.55. Rising on Unusual Volume: Visual Sciences (VSCN) jumped 5.2% on trading volume 380% higher than its three-month average after an analyst said the company is underappreciated, "given its focused sales team and next-generation analytics platform." The San Diego-based Internet tracking and digital marketing services company gained 80 cents, closing at $16.14. Stocks with Unusual Option Activity: Cypress Semiconductor (CY) was experiencing unusual options activity on Tuesday. Shares closed up 3 cents, or 0.1%, to $24.95. Latest Activist Situations: Pirate Capital in a letter reiterated its disappointment with the weak operating results of Angelica (AGL). The hedge fund, which owns 9.8% of the company, has in the past urged Angelica to hire a banker to explore a sale. Shares closed down 5 cents, or 0.2%, to $22.31.
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