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7 Stocks Hitting 52-Week Highs

NEW YORK (Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are hitting new 52-week highs and 52-week lows.

It often follows that a stock setting a new 52-week high will continue to set higher and higher highs (and the opposite for a stock setting a new 52-week low), and momentum traders often look to the 52-week-high lists for new stock ideas. Keep in mind, though, that new high prices can also indicate reasons for concern or caution in a stock.

Let's take a closer look at several stocks that hit new 52-week highs today.

>>5 Big Stocks to Trade for Gains

Cubist Pharmaceuticals (CBST) is focused on the research, development and commercialization of pharmaceutical products that address unmet medical needs in the acute care environment. It was recently trading up $2.57, or 7.1%, at $38.99 after hitting a 52-week high of $39.74 earlier in the day.

Today's Range: $37.55-$39.74

52-Week Range: $20.81-$39.74

Volume: 4.3 million

Cubist has a market cap of $2.2 billion and a short interest ratio of 8.3, and it trades at a P/E of 47.9. Of 15 analysts covering the stock, 11 rate it a buy, and four rate it a hold. TheStreet Ratings' has a B buy rating on Cubist, making it one of the top-rated biotech stocks.

Cubist, which was featured this week in "5 Stocks Poised to Pop on Earnings," announced third-quarter earnings yesterday that beat analyst estimates and raised its revenue expectations for the full year.

Select Comfort (SCSS) develops, manufactures, markets and distributes adjustable-firmness beds and other sleep-related accessory products. It was recently trading up $2.65, or 16.4%, at $18.77 after hitting a 52-week high of $19.40 earlier in the day.

Today's Range: $17.64-$19.40

52-Week Range: $6.63-$19.40

Volume: 3.4 million

Select Comfort has a market cap of $902 million and a short interest ratio of 5.8, and it trades with a P/E of 19.7. Of nine analysts covering the stock, six rate it a buy, and three rate it a hold. TheStreet Ratings' has a C+ hold rating on Select Comfort.

On Wednesday, Select Comfort announced a 63% increase in third-quarter earnings and raised its expectations for the full year.

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