The Biotech Stock With The Best One-Week Performance
At any time, most biotech stocks can go on significant price runs, especially when news events are involved.
For example, InterMune (NASDAQ: ITMN) has jumped about 35 percent today on the news that Roche has agreed to buy the company for $8.3 billion.
Now, that’s a one-day pop, but which biotech stock has had the best performance over the last week?
Well, the leader in the clubhouse is Amicus Therapeutics (NASDAQ: FOLD).
Amicus has soared 32.21 percent over the last five trading days.
The majority of Amicus’ run can be attributed to the stock’s own piece of positive news. But in reality, Amicus had been running higher since April.
From the stock’s springtime low of around $1.75, the stock has more than tripled.
Could It Be Time For A Cool Off?
Probably, but that could just lead to a better entry point for investors and traders.
However, pullback or not, there doesn’t seem to be a reason to expect the stock’s sustained run won’t continue.
Amicus closed on Friday at $5.87.
The screening criteria utilized for identification was one that isolated stocks trading above $5 per share and trading at least 500,000 shares per day (90-day average volume).
Obviously, investors must conduct their own due diligence before investing in any stock. However, stocks that have been the best movers recently can commonly be the ones that continue higher moving forward.
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