Regeneron Tops 3 Med Stocks Moving Big On Earnings

We're in the middle of another big week for earnings, with a slew of medical-related companies among those reporting. Regeneron hit a new high in the stock market today after issuing better-than-expected Q2 earnings. The biotech also raised its growth forecast for its blockbuster Eylea drug. Shares gapped up in big volume, hitting a fresh high and clearing the 600 price level for the first time intraday. Regeneron is now extended from a 544.10 buy point from a late-stage flat base, initially cleared on July 14. The stock has been on a big run, gaining 43% so far this year. Medical device maker Abiomed is also now extended from a buy area, surging in giant volume and entering new high ground. The stock is up more than 130% in 2015. Abiomed crushed Q2 earnings and sales estimates on Tuesday, and raised its full-year guidance above Wall Street views. Meanwhile, generic-drug maker Mallinckrodt dropped in fast trade after missing revenue estimates. The move has the stock undercutting the prior low of a price consolidation base and below its 200-day line for the first time. And Biogen rose in quick turnover as it tries to recover from its post-earnings gap-down late last month. The biotech's shares are trading about 30% below their March 20 high.