Today’s Research Reports on Trending Tickers: Exelixis, Inc. and Incyte Corporation
U.S. markets were lifted higher Wednesday as stronger-than-expected economic data outweighed the recent rising geopolitical tensions. The Dow Jones Industrial Average gained 0.12 percent to close at 21,892.43, while the S&P 500 Index rose 0.46 percent to close at 2,457.59, extending its streak to four consecutive daily gains. On Wednesday, the Commerce Department reported the U.S. economy grew by 3.0 percent in the second quarter, above the previous estimate of 2.7 percent. Additionally, ADP reported the private sector added 237,000 jobs in August, which was above expectations of 185,000.
“The economy is doing well, we continue to show growth, people are working and spending, and this should be a positive for markets,” said Wayne Kaufman, chief market analyst at Phoenix Financial Services. “However, this is the slowest time of the year, volumes are very low, and there could be some additional volatility stemming from Harvey and North Korea that could prevent short-term gains.”
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Exelixis Inc.’s stock moved 2.61% higher Wednesday, to close the day at $28.28. The stock recorded a trading volume of 3,318,455 shares, which was below its three months average volume of 3,982,890 shares. In the last year Exelixis Inc.’s shares have traded in a range of 10.04 – 28.67. The share price has gained 181.67% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. Moreover, the stock’s 50-day moving average of $26.74 is greater than its 200-day moving average of $22.86. Shares of Exelixis Inc. are trading at a Price to Earnings ratio of 142.83. Shares of Exelixis have gained approximately 89.67 percent year-to-date.
Access RDI’s Exelixis, Inc. Research Report at:
On Wednesday, shares in Incyte Corporation recorded a trading volume of 2,758,913 shares, which was above the three months average volume of 1,365,960 shares. The stock ended the day 10.64% higher at 138.27. The share price has gained 78.23% from its 52 week low with a 52 week trading range of 77.58 – 153.15.The company’s shares are currently trading above their 200-day moving average. Moreover, the stock’s 50-day moving average of $129.05 is below its 200-day moving average of $129.60. Shares of Incyte have gained approximately 37.9 percent year-to-date.
Access RDI’s Incyte Corporation Research Report at:
Our Actionable Research on Exelixis, Inc. (NASDAQ:EXEL) and Incyte Corporation (NASDAQ:INCY) can be downloaded free of charge at Research Driven Investing.
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