Market Overview

12 Biggest Mid-Day Losers For Friday

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  • Versartis Inc (NASDAQ: VSAR) shares dipped 86 percent to $3.03 after the company disclosed that somavaratan did not meet primary endpoint in Phase 3 VELOCITY trial. Barclays downgraded Versartis from Overweight to Underweight, while Cowen & Co. downgraded the stock from Outperform to Market Perform.
  • Revolution Lighting Technologies Inc (NASDAQ: RVLT) shares dropped 18.4 percent to $6.18 as the company lowered its FY2017 sales guidance.
  • SECOO HOLDING LTD (NASDAQ: SECO) shares slipped 15.5 percent to $10.99. Secoo Holding prices its IPO at $13 per ADS.
  • Intercept Pharmaceuticals Inc (NASDAQ: ICPT) shares fell 14.4 percent to $63.13. Shares of Intercept Pharmaceuticals lost around one quarter of their value Thursday and another 14 percent Friday in reaction to a concerning U.S. Food and Drug Administration letter sent to doctors regarding its liver treatment product called Ocaliva for the treatment of primary biliary cholangitis. Citigroup downgraded Intercept Pharmaceuticals from Buy to Neutral.
  • Cyclacel Pharmaceuticals Inc (NASDAQ: CYCC) shares declined 13 percent to $1.95.
  • Exelixis, Inc. (NASDAQ: EXEL) shares dropped 12.8 percent to $24.42. Leerink Swann downgraded Exelixis from Outperform to Market Perform.
  • Abeona Therapeutics Inc (NASDAQ: ABEO) shares declined 8.7 percent to $14.80.
  • Compass Minerals International, Inc. (NYSE: CMP) shares fell 8.5 percent to $63.60 as the company lowered its FY17 earnings outlook.
  • Presidio Inc (NASDAQ: PSDO) declined 4.8 percent to $13.28. Presidio reported in-line earnings for its fourth quarter, while sales missed estimates.
  • United States Steel Corporation (NYSE: X) shares dropped 4 percent to $23.68. Cowen & Co. downgraded United States Steel from Market Perform to Underperform.
  • Carvana Co (NYSE: CVNA) fell 3.1 percent to $16.30. B. Riley initiated coverage on Carvana with a Sell rating and a $12.00 price target.
  • Rambus Inc. (NASDAQ: RMBS) fell 2.3 percent to $13.05. JP Morgan downgraded Rambus from Overweight to Neutral.
 

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