3 Biotech Stocks That Skyrocketed This Week

3 Biotech Stocks That Skyrocketed This Week

If you like excitement, biotech stocks provided plenty of it over the last several days. And most of the buzz stemmed from the $11.9 billion buyout of Kite Pharma (NASDAQ: KITE) announced by Gilead Sciences (NASDAQ: GILD) on Monday.

But while Kite Pharma stock shot up nearly 30% on the acquisition news and Gilead stock jumped more than 10%, neither company ranked among the best-performing biotech stocks this week. Instead, three smaller biotechs made even greater leaps -- Abeona Therapeutics (NASDAQ: ABEO), Sangamo Therapeutics (NASDAQ: SGMO), and Juno Therapeutics (NASDAQ: JUNO). Here's why these biotech stocks skyrocketed.

Image source: Getty Images.

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Source: Fool.com