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Actionable news in INCY: Incyte Corporation,

Watch This One Cheap Biotech Stock

The bearish downtrend in Gilead Sciences (GILD) looks overdone. Barron’s reported that Piper Jaffray views the cash-generating HIV drug supplier trades at cheap multiples. Both the analyst and the markets point to M&A activity for jump-starting Gilead’s growth. Value investors should watch this stock.

Gilead grew exponentially after acquiring Pharmasset in 2011. This $11...