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TheStreet Open House

8 Stocks Hitting New Highs Today

Ariad Pharmaceuticals

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Ariad Pharmaceuticals (ARIA) is a biopharmaceutical company focused on the discovery and development of drugs to provide therapeutic intervention in treating human diseases at the cellular level. This stock is trading up 2.8% at $13.59 in recent trading after hitting a 52-week high of $13.66 earlier in the day.

Today's Range: $13.20-$13.66

52-week Range: $5.06-$13.50

Volume: 1.8 million

Three-Month Average Volume: 3.15 million

Ariad Pharmaceuticals has a market cap of $1.80 billion and an enterprise value of $1.68 billion. The stock trades at a price-to-sales of 68.13 and a price-to-book of 65.40. Its estimated growth rate for this year is 134.5%, and for next year it's pegged at 19.4%. The current short interest as a percentage of the float for Ariad Pharmaceuticals stands at 12.8%.

From a technical standpoint, ARIA recently triggered a breakout trade when the stock took out some past overhead resistance at $12.50 with solid volume. The stock is now triggering another big breakout trade, with shares moving above some major overhead resistance from July at $13.50.

Traders should now look for a sustained high-volume move and close above $13.50 to signal that ARIA wants to trend significantly higher. Look for volume that's near or above its average action of 3.15 million shares.

Ariad shows up on a list of 10 Biotech Stocks Loved and Hated by Wall Street's Top Investment Pros for the most recently reported quarter.

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