Incyte CorporationINCY was a big mover last session, as its shares rose over 7% on the day. The upside was driven by the announcement that new data from the comapny's investigational immuno-oncology portfolio will be presented at the Society for Immunotherapy of Cancer (SITC) 30th Anniversary Annual Meeting & Associated Programs to be held from Nov 4-8, 2015 at the Gaylord National Resort & Convention Center in National Harbor, MD. This also led to far more shares changing hands than in a normal session. Yesterday's rally breaks the trend for the company since Sep 18, as the stock is now trading above the volatile range of $95.16 to $125.93.
Over the last 30 days, the company witnessed one positive estimate revision and the Zacks Consensus Estimate also moved higher, suggesting more solid trading ahead. So make sure to keep an eye on this stock going forward to see if Friday's jump can turn into more strength down the road.
Incyte currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
A better-ranked biomedical stock is Anika Therapeutics Inc. ANIK with a Zacks Rank #1 (Strong Buy).
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