Incyte CorporationINCY saw a big move last session, as the company's shares fell by almost 11% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for INCY, as the stock is now down over 28% in the past one-month time frame.
This slump shouldn't be too much of a surprise to investors, as the drug discovery company has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
INCY currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative.
Investors interested in the biomedical/genetic industry may consider better-ranked stock like Anika Therapeutics Inc. ANIK , which carries a Zacks Rank #1 (Strong Buy).
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