6 Healthcare Stocks to Watch: AMGN, INHX, PSDV, PFE, CSII, MELA

After the green close today, these six healthcare stocks closed positive and are looking to continue their upward trends this week.

Amgen, Inc. (NASDAQ:AMGN) finished the day off up 5.91% at $58.43 with over 20 million shares traded. Volume was above average on AMGN today, over 3 times its usual daily average. The company announced a $5 billion share-purchase buyback program that caught rating agencies by surprise. Usually when a company buys back shares, they have high confidence in their outlook. AMGN is looking to get back to around where it was trading at in late October at $59. The company has a current market cap of 51.36 billion

Shares of Inhibitex, Inc. (NASDAQ:INHX) closed higher today at $9.72, a gain of 13.82%. INHX stock continues to climb following positive news on its hepatitis C drug INX-189 last week. The stock hit a 52-week high of $10.60 in intraday trading with 18.7 million shares traded. INHX has jumped from $4 to over $10 in just two days. The company has a current market cap of 759.96 million.

pSivida Corp. (NASDAQ:PSDV) closed Monday up 6.28% at $4.40. The company announced quarterly earnings after market close and beat analysts expectations by $0.09. Revenue rose 249% year over year to 1.66 million beating expectations of $0.05 million. PSDV traded 205 thousand shares today, 4 times its average volume of around 50 thousand shares. The company has a current market cap of 91.30 million.

Pfizer Inc. (NYSE:PFE) finished Monday up 2.09% at $20.07. The company is getting very close to its 52-week high of $21.45. PFE was up on extremely high volume today with over 144 million shares traded, 3 times its average volume of 51 million shares. The company has a current market cap of 156.59 billion.

Cardiovascular Systems Inc. (NASDAQ:CSII) closed Monday up 9.43% at $9.86. CSII has moved up over $1 since announcing quarterly results on November 2. The stock traded slightly above average volume today with over 200 thousand shares traded. The company has a current market cap of 174.48 million.

MELA Sciences, Inc. (NASDAQ:MELA) is up 10.73% at $5.16. MELA traded decent volume today with over 1.7 million shares traded, 600 thousand more than usual. The company is bouncing back a little bit after dipping on Friday. MELA is still up quite a bit from its 52-week low it hid in early August. The company has a current market cap of 130.35 million.

Traders should be cognizant of the sovereign debt crisis gripping Europe and be able to respond in any risk off scenario that emanates out of the Eurozone.

written by

Rachel Brook is an up and coming financial writer focusing on commodity price inflation and how the overall market reacts to the price swings. She also covers emerging markets in Africa and SE Asia.
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