Pharmacyclics (PCYC +9.5%) trades higher today after RBC Capital ups the shares to Outperform...

|By:, SA News Editor

Pharmacyclics (PCYC +9.5%) trades higher today after RBC Capital ups the shares to Outperform and raises its price target to $100 from $70. The firm cites optimism over a number of upcoming catalysts for its leukemia drug Ibrutnib, which is being jointly developed by PCYC and JNJ's Janssen Pharmaceuticals.