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5 Top Losers In Healthcare Sector (ADMS, PMD, TTOO...)

pharmadown march05 lt

The following are some of the pharma/biotech stocks that posted the biggest percentage decline today.

1. Adamas Pharmaceuticals Inc. (ADMS)

Lost 32.84% to close Tuesday's (Mar.5) trading at $8.16.

News: The stock has been downgraded by a couple of analysts.

Mizuho analyst Irina Koffler has downgraded Adamas to Underperform from Neutral and has cut the price target for the shares to $5 from $11.

Cowen analyst Ken Cacciatore has downgraded the stock to Market Perform from Outperform and has slashed the price target to $15.00 from $30.00.

2. 22nd Century Group Inc. (XXII)

Lost 26.81% to close Tuesday's trading at $1.72.

22nd Century Group is a plant biotechnology company focused on tobacco harm reduction and Very Low Nicotine tobacco.

News: No news

3. Psychemedics Corporation (PMD)

Psychemedics is a provider of hair testing for the detection of drugs of abuse.

Lost 20.73% to close Tuesday's trading at $15.26.

News: The Company, in its PR, has revealed that there is going to be a delay in the implementation of the Brazilian law, which requires professional drivers to renew their license every 2 1/2 years, instead of the current every 5 years. The 2 1/2 year requirement, which has the potential to double the market size for the Company, was previously expected to become effective September 2018.

It is now anticipated that the 2 1/2 year requirement will be implemented in the fourth quarter of 2019.

4. Cerecor Inc. (CERC)

Lost 20.21% to close Tuesday's trading at $5.45.

News: The Company announced that it has entered into an underwriting agreement with H.C. Wainwright & Co., LLC under which the underwriter has agreed to purchase on a firm commitment basis a minimum of 1.45 million shares of common stock at a price of $5.50 per share.

Clinical Trials & Near-term Catalyst:

The lead drug candidate is CERC-301, under a phase I study in patients with neurogenic Orthostatic Hypotension (nOH) associated with Parkinson's disease. Data from this trial is expected during the first half of 2019.

5. T2 Biosystems Inc. (TTOO)

T2 Biosystems is focused on developing innovative medical diagnostic products for critical unmet needs in healthcare.

Lost 16.55% to close Tuesday's trading at $3.58.

News: No news

Near-term Catalyst:

The Company is slated to release its 2018 fourth quarter and full year financial and operational results after the market closes on Thursday, March 7, 2019.

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