uploads///gAINERS

Incyte: S&P 500’s Top Gainer on April 12

By

Apr. 13 2018, Published 8:43 a.m. ET

Top gainers

The S&P 500’s top gainers on April 12 were:

  • Incyte (INCY) gained 5.3%.
  • Micron Technology (MU) gained 4.2%.
  • Host Marriott Financial Trust (HST) gained 4.1%.
  • Deere & Company (DE) gained 4.1%.
  • Discovery (DISCK) gained 3.9%.
Article continues below advertisement

Incyte 

Incyte, which is an American pharmaceutical company that specializes in oncology product development, was the S&P 500’s top gainer on April 12. After a brief pullback on Wednesday, Incyte opened the day higher and rallied to one-week high price levels.

Market sentiment

The market sentiment on Incyte weakened on April 6 after the company’s management announced the failure of Epacadostat for treating melanoma. However, the sentiment improved gradually amid the positive outlook on other studies of Epacadostat and other drugs in Incyte’s guidelines. The stock regained upward momentum following an upgrade from investment banker UBS. Incyte’s rating was upgraded from “neutral” to “buy” with a target price of $78.

On April 12, Incyte gained 5.3% and closed the day at $69.83.

Next, we’ll discuss how Micron Technology performed on April 12.

Advertisement

Latest Deere & Co. News and Updates

    Market Realist Logo

    © Copyright 2022 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.