Pharmacyclics (PCYC -1.2%) gives back earlier gains on the back of positive comments out of...

|By:, SA News Editor

Pharmacyclics (PCYC -1.2%) gives back earlier gains on the back of positive comments out of Wedbush this morning, re-testing a three-day low following it's disappointing FQ4 report on Wednesday. Wedbush says that despite the earnings miss, it's raising its price target on the shares from $55 to $93 because the company's blockbuster drug ibrutinib has the potential to become the backbone of treatment for chronic lymphocytic leukemia.