Incyte Corporation (NASDAQ:INCY) shares are trading higher on Tuesday. The stock has risen rapidly since Monday. Here’s what has happened.
What To Know: Prior to the stock’s recent price spike, shares had largely consolidated over November. While Incyte’s third-quarter financial results, as well as the full-year 2023 net product revenue guidance issued by the company, provided a boost to the stock, shares soon pulled back.
Additonally, the stock’s price target was changed several times during the past month, ranging from $63 to $98.
However, since Monday, shares of Incyte have jumped approximately 13%. It is worth noting that on Sunday, the company announced the full results from the Phase 2 AGAVE-201 trial of axatilimab, presented at the American Society of Hematology Annual Meeting 2023.
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INCY Price Action: Shares of INCY were up 8.75% at $62.03 at the time of publication, according to Benzinga Pro.
Image by Michal Jarmoluk from Pixabay
