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Smith & Wesson Giving Back Yesterday’s Gains, Plus 4 Other Sinking Stocks

Analysts Give the Thumbs Down to Navistar 

Navistar International Corp (NYSE:NAV) shares are 12% in the red after analysts at Stifel Nicolaus downgraded the stock to ‘Sell’ and set a $10 price target on it, citing declining medium and heavy-duty truck production, which could hurt the company’s ability to gain back lost market share. Shares of the company are not exactly cheap either with a forward P/E of over 16. 15 top funds that we track had a long position in Navistar International Corp (NYSE:NAV) as of the most recent 13F reporting period, down by one fund from the close of the previous quarter.

Shire Slips After Drug Purchase

Shire PLC (ADR) (NASDAQ:SHPG) shares are off by 2% after the company acquired the global rights for all indications to Pfizer Inc. (NYSE:PFE)’s PF-00547659. The acquisition of the investigational biologic for the treatment of moderate-to-severe inflammatory bowel disease improves Shire’s leading gastrointestinal unit. Financial terms of the deal were not disclosed. 49 funds in our system were bullish on Shire PLC (ADR) (NASDAQ:SHPG) at the end of the first quarter, up by nine funds from the end of 2015.

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KemPharm Falls on CRL 

KemPharm Inc (NASDAQ:KMPH) shares have retreated by 25% after the FDA issued a Complete Response Letter (CRL) for Apadaz, the company’s investigational abuse-deterrent product candidate for the short-term management of acute pain. A complete response letter is issued when the review of an NDA is complete and the application is not approved in its present form. KemPharm is evaluating the points raised in the CRL and intends to request a meeting with the FDA to determine a path forward for Apadaz. Of the 766 elite funds that we track, ten owned $46.21 million worth of KemPharm Inc (NASDAQ:KMPH) shares in aggregate, which accounted for 22.00% of the stock’s float on March 31.

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Disclosure: None

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