Promising Growth Stocks To Follow Now – June 3rd

Blueprint Medicines, Novo Nordisk A/S, and Incyte are the three Growth stocks to watch today, according to MarketBeat’s stock screener tool. Growth stocks are shares in companies whose earnings and revenues are expected to grow at an above-average rate compared to the broader market. These companies typically reinvest most of their profits back into research, development or expansion rather than paying out large dividends. Investors buy growth stocks primarily for the potential of capital appreciation rather than for income. These companies had the highest dollar trading volume of any Growth stocks within the last several days.

Blueprint Medicines (BPMC)

Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of indolent SM, and other mast cell disorders.

Blueprint Medicines stock traded down $0.06 during midday trading on Tuesday, hitting $127.73. 15,877,700 shares of the stock were exchanged, compared to its average volume of 1,031,864. Blueprint Medicines has a fifty-two week low of $73.04 and a fifty-two week high of $128.21. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of -118.27 and a beta of 0.83. The stock’s 50-day simple moving average is $92.42 and its 200 day simple moving average is $94.93. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15.

Novo Nordisk A/S (NVO)

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.

Shares of NVO traded down $2.14 during trading on Tuesday, reaching $70.69. 5,676,124 shares of the company traded hands, compared to its average volume of 6,836,953. Novo Nordisk A/S has a twelve month low of $57.00 and a twelve month high of $148.15. The stock has a market cap of $317.22 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 0.90 and a beta of 0.65. The stock has a 50-day simple moving average of $65.60 and a 200-day simple moving average of $81.22. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Incyte (INCY)

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.

Shares of INCY traded up $1.86 during trading on Tuesday, reaching $67.17. 3,698,155 shares of the company traded hands, compared to its average volume of 2,293,825. The stock has a 50-day simple moving average of $60.88 and a 200-day simple moving average of $67.28. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Incyte has a twelve month low of $53.56 and a twelve month high of $83.95. The stock has a market cap of $13.00 billion, a PE ratio of 248.79, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68.