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TheStreet Open House

6 Stocks at New 52-Week Highs

Inhibitex

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Inhibitex (INHX) is focused on the development of differentiated anti-infective products to prevent or treat serious infections. This stock is trading up 18% to $10.53 in recent trading, after it hit a 52-week high of $11.98 earlier today.

Today's Range: $11.10-$11.98

52-week Range: $2.00-$11.98

Volume: 7,000,000

Three-Month Average Volume: 1,419,000

Inhibitex has a market cap of $896.45 million and an enterprise value of $646.86 million. Its estimated growth rate for this year is 5.4%, and for next year it's pegged at -5.7%. The current short interest as a percentage of the float for Inhibitex is 3.4%.

This stock is soaring higher today as traders jamp into any stock with exposure to hepatitis C treatments after Gilead Sciences struck a deal to buy Pharmasset for $11 billion. Inhibitex is currently developing hepatitis C medicines.

From a technical standpoint, this stock is gapping up and breaking out above some past overhead resistance at $10.60 today on high volume. If this stock can manage to close above $10.60 and near its daily high of $11.98, then traders should look for continued upside.

That said, if INHX closes below $10.60, then I would expect to see the gap higher today get filled in the near future back toward $8.50.

Inhibitex shows up on a recent list of 13 Biotech Stocks Bought and Sold by Hedge Funds.

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