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TheStreet Open House

6 Stocks Hitting New 52-Week Highs

Medivation

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Medivation (MDVN) is a biopharmaceutical company focused on the rapid development of small molecule drugs to treat serious diseases, for which there are limited treatment options. This stock is trading up 1.55% to $46.66 in recent trading after hitting a 52-week high of $46.73 earlier in the day.

Today's Range: $45.38-$46.73

52-week Range: $11.16-$46.73

Volume: 192,000

Three-Month Average Volume: 904,471

Medivation has a market cap of $1.61 billion and an enterprise value of $1.44 billion. This stock trades at a price-to-sales of 25.84. Its estimated growth rate for this year is 2%, and for next year it's pegged at 30.9%. The current short interest as a percentage of the float for Medivation is rather high at 7.5%.

From a technical standpoint, this is in full breakout mode now that it has cleared some past overhead resistance at $44.93.

I could see this stock tagging $50 a share in the coming weeks, but traders should be careful since shares of MDVN are hitting overbought levels. The current RSI reading is at 80.59, which indicates an extreme overbought condition for any stock.

Medivation shows up on a list of Biotech Stocks Loved and Hated by the Pros in the most recently reported quarter.

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