Despite a spot of weakness during the last couple of months, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to carve out a reasonably solid gain of 5% since this time last year.
Unfortunately not all shares on the market have been able to follow the index higher. In fact, a few have been absolutely crushed during this time.
Three in particular which caught my eye are listed below. Are they in the bargain bin now?
The Domino's Pizza Enterprises Ltd. (ASX: DMP) share price has fallen 41% since this time last year. Concerns over allegations of staff underpayment by franchisees and a full-year earnings miss are largely behind the severe decline. This means that the pizza chain operator's shares are now changing hands at just 29x earnings. Whilst this is still a premium to the market-average, I think this is cheap for a company with such strong long-term growth prospects. I remain optimistic that FY 2017 was just a blip and that the company will return to form in FY 2018.
The Mayne Pharma Group Ltd (ASX: MYX) share price has plunged a whopping 66% in the last 12 months as a result of competitive pricing pressures in the U.S. generic drugs market. While management is looking to offset this by accelerating the growth of its Specialty Brands segment and cutting costs, at this stage it is unclear whether these moves will be enough. Mayne Pharma could end up being an absolute bargain at the current share price, but I'm keeping my powder dry until at least its half-year results.
The Resapp Health Ltd (ASX: RAP) share price has lost 78% of its value since this time last year. The majority of this decline came in the last few weeks after the company released negative results relating to its Smartcough C study. However, earlier this week management advised that due to a number of issues during execution and adjudication, the study was not a representative evaluation of its ResAppDx app. As a result, the study will restart in the U.S winter. I would suggest investors wait for the results of the next study before parting with any hard-earned money.
