INCY - Here's Why Incyte Rose 19.1% in the First Half of 2020
Shares of Incyte (NASDAQ: INCY) rose more than 19% in the first six months of the year, according to data provided by S&P Global Market Intelligence. That easily bested the 4% decline of the S&P 500 in that span.
After struggling to commercialize pipeline assets in recent years and diversify revenue away from Jakafi, Incyte appears to be making tangible progress with its late-stage pipeline. Wall Street appears a little more willing to buy into the company's growth pitch, which rests on a solid foundation provided by the Jakafi franchise. Full-year 2020 guidance expects at least $1.88 billion in product revenue from Jafaki.
Can the pharma stock maintain its momentum in the second half of the year?