Apple Hits 52-Week Highs with These 3 Healthcare Stocks
Tech darling Apple Inc. (NASDAQ:AAPL) hit a new record high of $427.75 on analyst upgrades to Q1 estimates. Apple should move higher as users adopt new iPhones or choose to jump on the bandwagon with lower priced 3GS models. AAPL shares closed at $421.73, down $0.67 or 0.16% on the day. They have traded in a 52-week range of $310.50 to $426.70.
Health Net (NYSE:HNT) advances after announcing earlier it’s selling its Medicare prescription-drug plan business to CVS Corp. (NYSE:CVS) for approximately $160M in an all cash deal. CVS shares closed at $41.79, up $0.33 or 0.8% on the day. They have traded in a 52-week range of $31.30 to $41.85.
Idenix Pharmaceutica (NASDAQ:IDIX): After Bristol-Myers’ (NYSE:BMY) takeover of Inhibitex (NASDAQ:INHX), Leerink feels Hepatitis C virus space is left with only two other targets, Idenix (NASDAQ:IDIX) and Achillion (NASDAQ:ACHN). IDIX shares closed at $9.66, up $2.61 or 37.02% on the day. They have traded in a 52-week range of $2.67 to $8.51.
Canaccord sees competing bids for Inhibitex (NASDAQ:INHX). At $26 a share, Bristol-Myers’ (NYSE:BMY) bid for Inhibitex really understates potential for Inhibitex’s INX-189 and there could be a hostile bid. The firm view the bid as a validation of Inhibitex’s HCV nuc prodrug intellectual property and feels concerns about tolerability of INX-189 tolerability concerns are overstated. INHX shares closed at $23.70, up $13.83 or 140.12% on the day. They have traded in a 52-week range of $2.15 to $16.49.
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