8 Stocks Rising on Unusual Volume
Inhibitex
Inhibitex (INHX) is a biopharmaceutical company focused on the development of differentiated anti-infective products to prevent or treat serious infections. This stock is trading up 8.5% at $11.33 in recent trading.
Today's Volume: 2,977,000
Average Volume: 2,627,890 Volume % Change: 115% This stock is soaring today after Canaccord said it would be aggressive buyers of INHX due to the overreaction in shares following Pharmasset's (VRUS) PSI-938 clinical developments. Canaccord rated the stock a buy with a $22 price target. From a technical standpoint, INHX is starting to trend back above its gap down day high of $10.45 on heavy volume today. Traders should now watch for a sustained high-volume move and close above $10.45 to signal that this stock wants to continue to fill the gap back towards $14. Keep in mind that this stock just bounced big off its pre-market low of near $5 from that huge gap down day last week. That's an over 100% run now for INHX, so profit-taking could easily hit this stock at any moment. Inhibitex shows up on a list of 13 Biotech Stocks Bought and Sold by Hedge Funds in the most recently reported quarter and is one of Five Drug Stocks Winners of 2011.Select the service that is right for you!
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