Pharmacyclics (PCYC) Shares Hit New 52-Week High as Investors Still Bullish on Ibrutinib, Pipeline
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Shares of Pharmacyclics (Nasdaq: PCYC) have continued pushing higher since the beginning of June, when the company issued an update for Bruton's tyrosine kinase (BTK) inhibitor ibrutinib at ASCO. Ibrutinib is a proposed treatment of patients with chronic lymphocytic leukemia (CLL)/small lymphocytic lymphoma (SLL).
Since that update, shares have closed higher 13 out of 15 sessions, running 68 percent higher.
Nothing specific about the potential market, though one Brean Murray analyst said Pharmacyclics might see $2.7 billion in annual sales by 2024.
In the meantime, Pharmacyclics market cap is just over $3 billion and many still continue to crow about its pipeline.
Volatility on the shares is up 7 percent from Friday's close and at 105 percent of its trailing historical average.
Shares are up about 7.8 percent Monday afternoon; the stock hit another new high at $51.61 earlier.
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Since that update, shares have closed higher 13 out of 15 sessions, running 68 percent higher.
Nothing specific about the potential market, though one Brean Murray analyst said Pharmacyclics might see $2.7 billion in annual sales by 2024.
In the meantime, Pharmacyclics market cap is just over $3 billion and many still continue to crow about its pipeline.
Volatility on the shares is up 7 percent from Friday's close and at 105 percent of its trailing historical average.
Shares are up about 7.8 percent Monday afternoon; the stock hit another new high at $51.61 earlier.
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