Dipexium Pharmaceuticals Inc (NASDAQ:DPRX)’s Locilex Fails Trials
Dipexium Pharmaceuticals Inc (NASDAQ:DPRX) is suffering the fate that could be in store for Corbus (according to that source). Shares of the company have imploded by 82% after two phase III clinical trials of locilex failed to achieve their primary endpoint. The treatment did not prove to be any more effective than the vehicle arm at treating patients with mild infections of diabetic foot ulcers. Both trials also failed to meet their secondary endpoints of demonstrating superiority at eradicating bacteria. The company is reviewing the trial data and may seek to test the treatment for other indications based on its findings. Analysts at Feltl downgraded the stock to ‘Hold’ from ‘Buy’ this morning in light of the results.
FuelCell Energy Inc (NASDAQ:FCEL) Project Not Selected
FuelCell Energy Inc (NASDAQ:FCEL) shares have tumbled by 29% after the company disclosed in a regulatory filing that its Beacon Falls Energy Park has not been selected for contract negotiations under The New England Clean Energy Request for Proposals. The rejection is a blow for FuelCell, which has been working on the Beacon Falls project for years with the aim of manufacturing and selling its fuel cell power plants to O&G Technologies, the land owner. The parties involved plan to pursue other means to see the project come to fruition. FuelCell also reported that it has yet to be notified regarding its four bids for over 50 megawatts made with the State of Connecticut 2 – 20 megawatt RFP. Decisions on those bids are expected by the end of January.
Under Armour Inc (NYSE:UA) Guidance Flops
Lastly, shares of Under Armour Inc (NYSE:UA) are 14.49% in the red after the sports apparel company’s growth outlook was a disappointment to investors and beneath the company’s projections at its 2015 Investor Day. While it reiterated its 2018 revenue goal of $7.5 billion, it anticipates operating income growth in the mid-teens over each of the next two years, beneath previous forecasts. Jim Cramer declared that the conference call was “grim”, while Piper Jaffray analyst Erinn Murphy states that the selling is overdone. Several other analysts have downgraded the stock today, however, including Stifel Nicolaus and William Blair. For the third quarter, Under Armour pulled in $1.47 billion in revenue and earned $0.29 per share, which topped estimates of $1.45 billion in revenue and EPS of $0.25.
Hedge Fund Sentiment
Let’s take a look at hedge fund sentiment now towards each of the five stocks, based on the collection of hedge funds in our database. Of the five stocks, Under Armour Inc (NYSE:UA) was the most popular on June 30, as 31 hedge funds owned the stock. Under Armour also had the most positive sentiment during the quarter, as a net total of ten hedge funds added the stock to their portfolios. BlackBerry Ltd (NASDAQ:BBRY), which had been the most popular of the five as of March 31, was held by 20 hedge funds at the end of June, down from 24 at the end of March. Dipexium Pharmaceuticals Inc (NASDAQ:DPRX) and Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP) were held by eight and seven hedge funds respectively on June 30, and hedge funds owned more of their shares in aggregate than any of the other three stocks, 17% and 23% respectively. FuelCell Energy Inc (NASDAQ:FCEL) was the least popular stock, with just four hedge funds long 3.60% of its shares at the end of the second quarter.