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7 Stocks Hitting New Highs

Genomic Health

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Genomic Health (GHDX) is a molecular diagnostics company focused on the development and global commercialization of genomic-based clinical laboratory services, which analyzes the underlying biology of cancer, allowing physicians and patients to make individualized treatment decisions. This stock is trading up 1% at $28.84 in recent trading after hitting a 52-week of $28.90 earlier in the day.

Today's Range: $28.39-$28.90

52-week Range: $19.00-$28.90

Volume: 32,000 shares

Three-Month Average Volume: 174,591 shares

>>13 Biotech Stocks Bought and Sold by Hedge Funds

Genomic Health, one of TheStreet Ratings' top-rated biotech stocks, has a market cap of $849.04 million and an enterprise value of $764.87 million. The stock trades at a trailing price-to-earnings of 130.64 and a forward price-to-earnings of 70.10. Its estimated growth rate for this year is 92.9%, and for next year it's pegged at 51.9%.

From a technical standpoint, this stock is starting to flirt with a big breakout now that shares are pushing up towards some past overhead resistance at $28.78. Market players should watch for a sustained move and close above $28.78 on high-volume to trigger a bigger trend higher for Genomic Health. So far today, the volume is very light, so watch how the volume looks at the close. If we do get the breakout, then this stock will be trading in all-time high territory, which is bullish.

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