Despite recent weakness on the local share market, during the last 12 months the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to carve out a gain of just under 7%.
Unfortunately, not all shares have been able to follow the benchmark index higher. In fact, the three shares listed below have been the worst performers on the market. Is it time to snap them up now?
The Mayne Pharma Group Ltd (ASX: MYX) share price has fallen 67% since this time last year. Price-fixing allegations and pricing pressures in the lucrative U.S. generic drugs market have weighed heavily on the pharmaceutical company's shares. Whilst I think that Mayne Pharma could be dirt cheap if these headwinds dissipate, until that happens I would suggest investors hold off an investment.
The Sirtex Medical Limited (ASX: SRX) share price has plunged 55% in the last 12 months. The regenerative medicine company's shares have been free-falling since its two most recent clinical trials, SARAH and FOXFIRE, showed no improvement in overall survival rates versus the current standards of care. Furthermore, the company failed to deliver the explosive dose sales growth that many in the market had expected. While Sirtex may be about fair value right now, I think there are investments that offer a more compelling risk/reward elsewhere on the market.
The Vocus Group Ltd (ASX: VOC) share price has tumbled 66% since this time last year. While the telco industry as a whole has come under significant pressure this year, investors have been heading to the Vocus exits due largely to its underwhelming performance, weaker NBN margins, boardroom spats, and a possible class action. Unfortunately, I can't see any real catalyst to take its shares higher in the near-term, so would expect its shares to trade sideways or even lower for the foreseeable future. Unless, of course, there is a real uptick in its performance.
