Stocks hitting new 52 week highs on July 27 are Infinity Pharmaceuticals, Inc, Array BioPharma, Inc, Ligand Pharmaceuticals Incorporated, Harbinger Group Inc, and Cynosure, Inc. Investors are buying the stock and pushing it higher because they may think that these stocks were undervalued. This could be a result of higher than expected earnings, overall market growth, or simply investor speculation.
Shares of Infinity Pharmaceuticals, Inc (INFI) had a total return adjusted 52 week high today of $16.98 per share and are currently trading at $17.90. The stock traded higher by 8.03% or $1.33/share to $17.90. The stock recorded a trading volume of 208049 today. This represents 1.74 times the average volume for Infinity Pharmaceuticals, Inc. Higher than average volume can sometimes signal a technical breakout or perhaps that new information was released about the company. Volume is often used as a lie detector and high volume gives validity to the price move. Stay tuned for more updates on the company and investors may want to look for this momentum to continue.
Shares of Array BioPharma, Inc (ARRY) had a total return adjusted 52 week high today of $4.58 per share and are currently trading at $4.82. The stock traded higher by 6.87% or $0.31/share to $4.82. The stock recorded a trading volume of 607485 today. This represents 1.28 times the average volume for Array BioPharma, Inc. This is considered normal volume for the stock which means the new high is most likely caused by a steady uptrend. Expect the stock to continue its upward trend. A pullback could be a great opportunity to get onboard.
Shares of Ligand Pharmaceuticals Incorporated (LGND) had a total return adjusted 52 week high today of $18.74 per share and are currently trading at $19.30. The stock traded higher by 5.46% or $1.00/share to $19.30. The stock recorded a trading volume of 115790 today. This represents 1.51 times the average volume for Ligand Pharmaceuticals Incorporated. Higher than average volume can sometimes signal a technical breakout or perhaps that new information was released about the company. Volume is often used as a lie detector and high volume gives validity to the price move. Stay tuned for more updates on the company and investors may want to look for this momentum to continue.
Shares of Harbinger Group Inc (HRG) had a total return adjusted 52 week high today of $9.20 per share and are currently trading at $9.50. The stock traded higher by 3.60% or $0.33/share to $9.50. The stock recorded a trading volume of 56310 today. This represents 0.5 times the average volume for Harbinger Group Inc. Lower than average volume can mean the new high may not represent the stock's true value. Investors may want to watch out for this stock adjusting back down to its true value.
Shares of Cynosure, Inc (CYNO) had a total return adjusted 52 week high today of $24.84 per share and are currently trading at $25.55. The stock traded higher by 4.84% or $1.18/share to $25.55. The stock recorded a trading volume of 129208 today. This represents 2.46 times the average volume for Cynosure, Inc. Higher than average volume can sometimes signal a technical breakout or perhaps that new information was released about the company. Volume is often used as a lie detector and high volume gives validity to the price move. Stay tuned for more updates on the company and investors may want to look for this momentum to continue.
