Benzinga’s Biggest Losers (SOMX, ZLC, ALTH, IAG, MELI)

Somaxon Pharmaceuticals, Inc. (NASDAQ: SOMX) has plunged 63.74% to $1.28 on 13.51 million shares after Somaxon today announced that the company has received a Complete Response Letter from the U.S. FDA for its New Drug Application for Silenor(R) (doxepin) for the treatment of insomnia.

Zale Corporation (NYSE: ZLC) fell 18.96% to $4.02on 1.32 million shares. Today, Soleil Securities downgraded ZLC to from Hold to Sell with a Price target of $2.50. So far this year, Zale is up over 21%.

Allos Therapeutics, Inc. (NASDAQ: ALTH) is trading lower by 13.78% to $5.71 after Wells Fargo downgrades Allos from Outperform to Market Perform and lowered the price range to $6-7 from $9-10.So far this year, ALTH is down over 6.50%.

IAMGOLD Corporation (USA) (NYSE: IAG) shares have declined 5% to $17.32 as gold price continues to fall. So far this year, IAG is up over 183%.

MercadoLibre, Inc. (NASDAQ: MELI) fell 5.18% to $49.01. So far this year, shares of MELI have gained about 200%. The 52-week range for MELI is $10.50-$55.62.