Incyte Corp. (INCY) reported a first quarter net loss of $0.36 per share Thursday morning, compared to the loss of $0.21 per share last year. The consensus estimate was for a loss of $0.46. Revenues were $36.2 million, compared to $32.0 million last year.
Incyte gapped open higher Thursday and climbed for the majority of the morning. The stock took out the session highs late in the afternoon and finished up by 2.53 at $21.93, with volume at a 5-month high. Incyte rose past the upper end of over a one-month range and set a new high for the year.
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