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Maxygen Stock Soars Higher (MAXY)

NEW YORK ( TheStreet) -- Shares of Maxygen (Nasdaq: MAXY) have taken a tremendous swing upward. The stock is trading at $5.30 as of 9:32 a.m. ET, 28.9% above Wednesday's closing price of $4.11. Volume is at 262,647, two times the daily average of 134,500.

Maxygen has a market cap of $122.7 million and is part of the services sector and diversified services industry. Shares are up 4.6% year to date as of the close of trading on Wednesday.

Maxygen, Inc., a biopharmaceutical company, focuses on developing improved versions of protein drugs. The company has a P/E ratio of 1.8, equal to the average diversified services industry P/E ratio and below the S&P 500 P/E ratio of 15.9.

TheStreet Ratings rates Maxygen as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full Maxygen Ratings Report.

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