Wall Street Fundamentals Releases New In-Depth Stock Reports on INCY, MDVN, QCOR and RCPT


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Companies Mentioned

NASDAQ:INCY / NASDAQ:MDVN / NASDAQ:QCOR / NASDAQ:RCPT
03/24/2014 [ACCESSWIRE]

Shares of major biotech companies stumbled Friday on concerns the sector may be overheated. The iShares NASDAQ Biotechnology Index ETF (NASDAQ: IBB) and the SPDR S&P Biotech ETF (NYSEARCA: XBI) posted declines of 4.74 percent and 4.18 percent Friday. "We still see more downside risk than upside reward for the sector given how extremely extended it has become on a longer-term timeframe," said MKM Partners' chief market technician, Jonathan Krinsky, in a note to clients.

Incyte Corporation (NASDAQ: INCY) shares traded in the range of $58.41 to $63.84 Friday before settling to close at $59.41, a decrease of 6.88 percent. The stock appears to be facing some resistance at the $64.23 and $69.21 levels with some support at $56.28 and $52.02. Shares of Incyte are up approximately 17.0 percent year-to-date.

More information on Incyte and access to the free equity report can be found at: 
www.WallStreetFundamentals.com/INCY

Medivation Inc. (NASDAQ: MDVN) shares traded in the range of $65.46 to $69.75 Friday before settling to close at $66.53, a decrease of 3.13 percent. The stock appears to be facing some resistance at the $67.73 and $69.86 levels with some support at $64.78 and $62.67. Shares of Medivation are up approximately 4.0 percent year-to-date.

More information on Medivation and access to the free equity report can be found at: 
www.WallStreetFundamentals.com/MDVN

Questcor Pharmaceuticals Inc. (NASDAQ: QCOR) shares traded in the range of $61.60 to $65.21 Friday before settling to close at $62.30, a decrease of 2.87 percent. The stock appears to be facing some resistance at the $62.81 and $64.84 levels with some support at $61.63 and $60.13. Shares of Questcor Pharmaceuticals are up approximately 15.0 percent year-to-date.

More information on Questcor Pharmaceuticals and access to the free equity report can be found at: 
www.WallStreetFundamentals.com/QCOR

Receptos Inc. (NASDAQ: RCPT) shares traded in the range of $46.59 to $51.64 Friday before settling to close at $46.78, a decrease of 9.39 percent. The stock appears to be facing some resistance at the $47.12 and $50.03 levels with some support at $44.85 and $38.85. Shares of Receptos are down approximately 60.0 percent year-to-date.

More information on Receptos and access to the free equity report can be found at:      
www.WallStreetFundamentals.com/RCPT

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Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.

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Wall Street Fundamentals
Website:
www.WallStreetFundamentals.com
Email: editor@wallstreetfundamentals.com

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