Incyte shares rally 1.72% and outperform competitors
Updated
Updated · MarketWatch · May 1
Incyte shares rally 1.72% and outperform competitors
11 articles · Updated · MarketWatch · May 1
The stock closed at $96.91 as the S&P 500 rose 0.29% to 7,230.12 and the Dow Jones Industrial Average fell 0.31% to 49,499.27.
Incyte remained 13.70% below its 52-week high of $112.29 reached on 7 January. Rival Alnylam fell 4.32%, Bio-Techne slipped 0.54%, and BioMarin edged up 0.28%.
Trading volume was 1.2 million shares, 383,424 below Incyte's 50-day average of 1.6 million, suggesting the gain came on lighter-than-usual activity during a mixed market session.
Incyte's stock rallied on strong earnings, but can its pipeline win the race against its biggest drug's patent expiration?
Incyte's financials look strong, so why does a key valuation model suggest its stock is massively overpriced?