KOSP [Quote, News] earnings came out today with a 51% drop in 4Q profits. The price plummetted over 16%. The majority of the drop was due to a one-time charge, but the earnings still came in lower than estimated at 71 cents/share versus analyst estimates of 80 cents/share. Higher operating osts seem to be the culprit. The encouraging sign was that revenue was up 42 percent to $213.9 million from $150.7 million last year, on sales of new cholesterol and high blood pressure drugs acquired during the year as mentioned in the previous post.
Looking at the daily chart, the price was down steadily throughout the day with decreasing volume, suggesting fewer sellers. The majority of the selling volume was at the open. At 3pm the smart money appeared to come in, but the price didn’t make much of a comeback. This stock is worth watching a bit longer, as it may not have bottomed out. We’ll keep an eye on it, especially the end of day volumes and price movement.