BOSTON (TheStreet) -- U.S. stocks dropped on quadruple-witching Friday. Investors weighed slower growth in India and a potential rise in the Federal Reserve's discount rate. Still, the following stocks hit highs.

3. OSI Pharmaceuticals ( OSIP) rose 0.4% to $58.94, recording a high of $59.50. Lung-cancer drug Tarceva, which has Roche as an international partner, received a positive opinion from the European Committee on Medicinal Products.

Quarter: Fourth-quarter non-GAAP profit rose 50% to $57 million, or 90 cents a share, as revenue soared 26% to $124 million. The operating margin widened from 29% to 43%. OSI Pharmaceuticals holds $472 million of cash and $308 million of debt.

Stock: OSI has soared 56% in the past year, beating the Dow Jones Industrial Average and the S&P 500 Index. The stock trades at a price-to-projected-earnings ratio of 29, a 15% premium to its peer-group average. It's cheap based on book value.

Consensus: Of analysts covering OSI Pharmaceuticals, two rate its stock "buy" and 11 rank it "hold." TheStreet's equity model is bullish on OSI, rating it "buy" and projecting a price target of $67.80, implying 14% of remaining upside.

2. Biogen Idec ( BIIB) climbed 0.7% to $59.63, achieving a high of $60.17. Shares of the biotech company have rallied 11% in 2010, in part on takeover speculation. Activist investor Carl Icahn controls 4.8% of the float and is attempting to acquire more board seats.

Quarter: Fourth-quarter profit advanced 48% to $306 million, or $1.06, as revenue increased 5.4% to $1.1 billion. Biogen Idec's operating margin expanded from 33% to 40%. Its balance sheet stores $1.3 billion of cash and $1.1 billion of debt.

Stock: Biogen Idec has appreciated 18% in the past 12 months, less than U.S. indices. The stock sells for a price-to-projected-earnings ratio of 12, a 51% discount to the industry average. It's also cheap based on book value, sales and cash flow.

Consensus: Of researchers following Biogen Idec, eight, or 31%, advise purchasing its shares, 16 suggest holding and two recommend selling them. Soleil Securities expects the stock to rise 17% to $70. Jefferies is also bullish on the stock.

1. Teva Pharmaceutical Industries ( TEVA) ascended 1.6% to $63.03, hitting a high of $63.97. Shares of the Israeli drugmaker have risen 7.3% in the past month. Yesterday, it announced a deal to purchase Ratiopharm, exceeding the bid of competitor Pfizer.

Quarter: Teva swung to a fourth-quarter profit of $379 million, or 42 cents, from a loss of $694 million, or 88 cents, last year. Revenue expanded 33% to $3.8 billion. The operating margin was unchanged. Teva has $2.2 billion of cash and $5.6 billion of debt.

Stock: Teva has returned 44% in the past year, trailing major benchmarks. The stock trades at a price-to-projected-earnings ratio of 12, on par with peers' shares. Its PEG ratio of 0.3 reflects a discount relative to expected long-term growth.

Consensus: Of analysts covering Teva, 21, or 88%, advocate buying its shares and three say to hold them. Buckingham Research offers the loftiest price target, expecting the stock to gain 20% to $76. Citigroup also rates Teva "buy."

-- Reported by Jake Lynch in Boston.

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