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Elan(ELN) is a neuroscience-based biotechnology company. Elan is focused on discovering and developing advanced therapies in neurodegenerative and autoimmune diseases and in realizing the potential of its scientific discoveries and drug delivery technologies. This stock is trading down 0.39% at $12.88 in recent trading after hitting a 52-week high of $13.01 earlier in the day.
Today's Range: $12.73-$13.01
52-Week Range: $5.59-$12.93
Volume: 1.3 million
Three-Month Average Volume: 2.8 million
Elan has a market cap of $7.60 billion and an enterprise value of $7.87 billion. The stock trades at a trailing price-to-earnings of 11.86 and a forward price-to-earnings of 107.67. Its estimated growth rate for this year is 317%, and for next year it's pegged at -90.2%. The current short interest as a percentage of the float for Elan is very low at 1.2%.
From a technical standpoint, ELN broke out recently above some past overhead resistance at $12.20 and then $12.60 on monster volume. Market players should continue to look for long biased trades in ELN as long as the stock can remain above $12.60 on a closing basis. The next significant overhead resistance level won't come into play until ELN hits $14.
To see more stocks hitting new 52-week highs today, check out the
Stocks Hitting New 52-Week Highs portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.