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8 Stocks Hitting New Highs Today

Alexion Pharmaceuticals

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Alexion Pharmaceuticals (ALXN) is a biopharmaceutical company engaged in the discovery, development and commercialization of therapeutic products aimed at treating patients with severe and life-threatening disease states, including those in the therapeutic areas of hematology, nephrology (including transplant rejection), neurology, ophthalmology and cancer. This stock is trading up 2.2% at $74 in recent trading after hitting a 52-week high of $74.44 earlier in the day.

Today's Range: $72.00-$74.44

52-Week Range: $40.04-$73.05

Volume: 464,000

Three-Month Average Volume: 1.2 million

Alexion Pharmaceuticals has a market cap of $13.61 billion and an enterprise value of $12.96 billion. The stock trades at a trailing price-to-earnings of 91.22 and a forward price-to-earnings of 44.83. Its estimated growth rate for this year is 46.1%, and for next year it's pegged at 26.2%. The current short interest as a percentage of the float for Alexion Pharmaceuticals is very low at 1.5%.

From a technical standpoint, ALXN recently triggered a breakout trade when the stock took out some past overhead resistance at $70.50 to $72.50. This move today in the stock has pushed shares into all-time high territory, which is bullish for any stock.

Market players should continue to look for long biased trades as long as ALXN can continue to trend above $70.50 to $72.50.

Alexion is one of TheStreet Ratings' top-rated biotechnology stocks.

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.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.
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