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Incyte Says It May Buy Back $30M of Stock

NEW YORK, Oct. 14 - Incyte Genomics today said it may spend up to $30 million to buy back its own stock, which it says is undervalued.

 

The company said its shares "represent an attractive investment opportunity," and it might buy some of them back in the open market or in private transactions.

 

Shares in Incyte were up 14 cents, or 4.4 percent, at $3.29 on the Nasdaq exchange.

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