Biotech Hot Sector Surged 34%
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December 17, 2012 • 
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A s the SPDR S&P Biotech Index reported the gain of 34% year to date, it’s obvious that investment dollars are enthusiastically flowing into the biotech sector. By observing and keeping that in mind, let’s have a glance at some of the companies that made positive signals in \the sector last week.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) surged +3.49% and closed at $9.18 with the overall traded volume of 5.58 million shares. Stock price was 52 weeks high was $13.50 and 52 weeks low price was $1.51. ARNA has market cap of 1.99 billion.
ARNA is ahead its 52 week low with 507.95% and its last month price volatility remained 4.17%. Its beta coefficient was 0.23 with a target price of $9.67. In its share capital ARNA has 217.29million outstanding shares while 215.68million shares have been floated in market. ARNA has insider ownership of 0.02% with its institutional ownership remained 45.76%. Company’s current year earnings per share grew with 29.52% while the five year EPS growth rate was +2.50%.
Amgen, Inc. (NASDAQ:AMGN) jumped +0.06% to close at $89.20 and its total traded volume was 3.40 million shares. AMGN has earnings per share of $5.59 and its price to earnings ratio ended at 15.95.
Amgen, Inc.(NASDAQ:AMGN) recently announced that it will increase its dividend by 31% for the starting quarter of 2013 and buy an extra $2 billion in shares. The repurchase of shares comes in accumulation to the residual amount of $500 million. The company’s shares moved up $0.43% after the opening bell on Friday.
Peregrine Pharmaceuticals (NASDAQ
PHM) moved up +2.34% with the closing price of $1.31. The overall volume in the last trading session was 2.64 million shares. Its fifty two week range was $0.39-$5.50. The total market capitalization remained $173.63million.
PPHM is ahead its 52 week low with 235.90% and its last month price volatility remained 9.84%. Its beta coefficient was 0.63 with a target price of $2.56. In its share capital PPHM has 1.32.54million outstanding shares while 95.84million shares have been floated in market. PPHM has insider ownership of 0.22% with its institutional ownership remained 8.52%. Company’s current year earnings per share grew with 10.15% while the five year EPS growth rate was +12.65%
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