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5 Biotech Stocks That Are Breaking Higher

These five biotechs are on the march as buyout activity increases

biotech stocks - 5 Biotech Stocks That Are Breaking Higher

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U.S. equities are continuing to melt higher on Wednesday as fears over the North Korean missile strike earlier in the week are fading amid a fresh focus on possible tax reform legislation.

Source: Shutterstock

Also, we’re seeing fading concerns about the aftermath of Hurricane Harvey and the impact on the U.S. energy industry.

Biotechnology stocks are surging, driving the Nasdaq to big-time gains, thanks to specific M&A activity after Kite Pharma Inc (NASDAQ:KITE) was acquired by Gilead Sciences, Inc. (NASDAQ:GILD) for $12 billion.

Here are five biotech stocks surging in response:

Biotech Stocks to Buy: Gilead (GILD)


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Gilead Sciences shares are blasting to a gain of nearly 6% as investors continue to digest news of the acquisition of KITE on Monday. The move to test the $80-a-share level returns prices to levels not seen since last September.

Watch for a move to the 200-week moving average near $85, which would be worth a 6% gain from here.

The company will next report results on Oct. 31 after the market. Analysts are looking for earnings of $2.11 per share on revenues of $6.4 billion.

When the company last reported on July 26, earnings of $2.56 per share beat estimates by 39 cents despite an 8.2% drop in revenues.

Biotech Stocks to Buy: Biogen (BIIB)


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Biogen Inc (NASDAQ:BIIB) shares are breaking up and over a three-year resistance zone with a move up and over the $300-a-share level. This pushes prices back to levels not seen since the summer of 2015. Shares have

Shares have a ways to run before returning to the early 2015 high near $450 — which would be worth nearly a 50% gain from current levels.

The company will next report results on Oct. 26 before the bell.

Analysts are looking for earnings of $5.63 per share on revenues of $3 billion. When the company last reported on July 25, earnings of $5.04 beat estimates by 67 cents on a 6.4% rise in revenues.

Biotech Stocks to Buy: Regeneron Pharmaceuticals (REGN)


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Regeneron Pharmaceuticals Inc (NASDAQ:REGN) shares are jumping up and over its 50-day moving average breaking out of a month-long consolidation range ahead of what is likely to be another run at recent highs near $520. Merely a retest would be worth a gain of around 5% from current levels.

The company will next report results on Nov. 3 before the bell. Analysts are looking for earnings of $3.81 per share on revenues of $1.45 billion.

When the company last reported on Aug. 3, earnings of $4.17 beat estimates by 99 cents on a whopping 21.2% rise in revenues.

Biotech Stocks to Buy: Incyte Corp. (INCY)


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Incyte Corporation (NASDAQ:INCY) shares are rising to the upper end of a five-month consolidation range, crossing over the 50-day moving average after finding support near the 200-day average.

Watch for a run to the March high near $155 — which would be worth a gain of nearly 15% from current levels.

INCY will next report results on Oct. 31 before the bell. Analysts are looking for earnings of eight cents per share on revenues of $358.9 million.

When the company last reported on Aug. 1, a loss of six cents per share missed estimates by two cents despite a 32.5% rise in revenues.

Biotech Stocks to Buy: Celgene (CELG)


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Celgene Corporation (NASDAQ:CELG) shares are rising to close in on the highs set earlier this month, closing in a three-year resistance near the 2015 high of $140.72.

The move takes shares back up and over their 50-day moving average and returns shares to the center of a three-month-long consolidation range.

The company will next report results on October 26 before the bell. Analysts are looking for earnings of $1.88 per share on revenues of $3.4 billion.

When the company last reported on July 27, earnings of $1.82 beat estimates by four cents per share on an 18.7% rise in revenues.

Anthony Mirhaydari is the founder of the Edge (ETFs) and Edge Pro (Options) investment advisory newsletters. Free two- and four-week trial offers have been extended to InvestorPlace readers.


Article printed from InvestorPlace Media, https://investorplace.com/2017/08/5-biotech-stocks-that-are-breaking-higher/.

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