Shares of Incyte Corp.  (INCY) - Get Report climbed 7.60% to $68.39 Thursday after Guggenheim Partners upgraded the biopharmaceutical company from neutral to buy. 

Analyst Michael Schmidt also a price target of $84. A year ago, Wilmington, Delaware-based Incyte was trading at $100.98 a share.

Separately, Incyte said that Christiana Stamoulis had been appointed executive vice president and CFO, effective Feb. 11, succeeding David Gryska, who retired at the end of 2018.

She joins Incyte from Unum Therapeutics, where she was president and CFO. Prior to Unum, she was the senior vice president of corporate strategy and business development at Vertex Pharmaceuticals. She serves on the Board of Directors of Hologic Inc., a medical technology company.

"Christiana is an outstanding addition to our management team," CEO Hervé Hoppenot said in a statement, "and we expect that her experience in strategy and corporate finance, as well as her proven track record of executing numerous successful financial and capital allocation initiatives, will be a great asset for Incyte as we embark on our next stage of growth."

In October, Incyte reported third-quarter earnings of 38 cents a share, up from the year-ago figure of 17 cents a share, but missing Wall Street's expectations of 40 cents a share. The company also posted revenue of $429.68 million, up from $381.53 million a year ago, but missing analysts' forecasts by 3%.

Among other drugs, Incyte makes Jakafi, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.