3 Biotech Stocks Exploding Higher on the S&P 500

The S&P 500 (NYSEARCA:SPY) is up 0.05% to 1,193. Here are three hot stocks up big.

Gilead Sciences Inc. (NASDAQ:GILD): Bank of America gives input on Gilead’s acquisition of Pharmasset (NASDAQ:VRUS) with an upgrade to Buy on valuation. BAC states that following the purchase, the net present value on Gilead’s future HCV program could be worth $15B – $30B given the range of scenarios. GILD shares recently traded at $38.69, up $2.43, or 6.7%. Its market capitalization is $29.06 billion. They have traded in a 52-week range of $34.45 to $43.49. Volume today was 18,359,155 shares versus a 3-month average volume of 7,313,800 shares. The company’s trailing P/E is 11.30, while trailing earnings are $3.42 per share.

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Medtronic, Inc. (NYSE:MDT): Despite sales of defibrillators and spinal products remaining weak, Medtronic FQ2 net profit rose to $871M from $566M, with growth across most of the firm’s divisions. MDT shares recently traded at $34.94, up $1.67, or 5.02%. Its market capitalization is $36.90 billion. They have traded in a 52-week range of $30.18 to $43.33. Volume today was 6,618,602 shares versus a 3-month average volume of 6,373,280 shares. The company’s trailing P/E is 12.18, while trailing earnings are $2.87 per share.

Biogen Idec Inc. (NASDAQ:BIIB): Biogen and GlaxoSmithKline (NYSE:GSK) are possible candidates to acquire Human Genome Sciences (NASDAQ:HGSI), says Senior Analyst at Piper Jaffray. BIIB shares recently traded at $112.62, up $4.73, or 4.38%. They have traded in a 52-week range of $63.58 to $120.66. Volume today was 1,308,859 shares versus a 3-month average volume of 1,991,530 shares. The company’s trailing P/E is 23.45, while trailing earnings are $4.80 per share.

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