Incyte and Biogen, two biotech companies featured on Ritholtz Wealth Management’s best stocks list, are delivering strong performances this summer. Incyte reported second-quarter adjusted EPS of $3.09 on revenue of $1.67 billion, beating consensus estimates by 46%, sending shares to a 52-week high above $132. The company raised full-year guidance to $5.13-$5.26 billion and aims to generate $3-4 billion in non-Jakafi sales by 2030, while sitting on $3 billion in cash for acquisitions. Biogen reported revenue of $2.74 billion in Q2, up 3% year-over-year, with adjusted EPS of $3.60 beating estimates by 18%, as its Growth portfolio surged 24%.
Source: Read the original article
