Monday, March 14, 2011

Amgen (AMGN), Anika (ANIK), Affymax (AFFY) Lead Biotech's Higher

Amgen (NASDAQ:AMGN), Anika Therapeutics (ANIK) and Affymax (AFFY) all closed up on Friday in an otherwise dismal day for biotech.

Anika Therapeutics (ANIK) continued to jump for the second day in a row as the impetus from their positive results in the fourth quarter continues to drive the shares. The company finished the week up by 21 percent.

Affymax Inc. (AFFY) was also hopping Friday after an upgrade from Auriga. It ended the week up by 15 percent.

Amgen (AMGN) closed out the week impressively as well, ended the day up over 3 percent. That move was attributed to the market believing the U.S. Food and Drug Administration labeling and Medicare reimbursement for a high-profile Amgen’s product will remain the same.

Amgen closed Friday at $53.53, up $1.69, or 3.26 percent. Anika closed at $11.17, gaining $1.54, or 15.99 percent. Affymax ended the session at $7.15, up $0.54, or 8.17 percent.

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