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OSI Pharma, Biogen, Teva Rise to Highs

BOSTON ( TheStreet) -- U.S. stocks dropped on quadruple-witching Friday. Investors weighed slower growth in India and a potential rise in the Federal Reserve's discount rate. Still, the following stocks hit highs.

3. OSI Pharmaceuticals (OSIP) rose 0.4% to $58.94, recording a high of $59.50. Lung-cancer drug Tarceva, which has Roche as an international partner, received a positive opinion from the European Committee on Medicinal Products.

Quarter: Fourth-quarter non-GAAP profit rose 50% to $57 million, or 90 cents a share, as revenue soared 26% to $124 million. The operating margin widened from 29% to 43%. OSI Pharmaceuticals holds $472 million of cash and $308 million of debt.

Stock: OSI has soared 56% in the past year, beating the Dow Jones Industrial Average and the S&P 500 Index. The stock trades at a price-to-projected-earnings ratio of 29, a 15% premium to its peer-group average. It's cheap based on book value.

Consensus: Of analysts covering OSI Pharmaceuticals, two rate its stock "buy" and 11 rank it "hold." TheStreet's equity model is bullish on OSI, rating it "buy" and projecting a price target of $67.80, implying 14% of remaining upside.
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