Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of biotechnology company Incyte (NASDAQ:INCY) popped 11% today after its quarterly results and guidance impressed Wall Street.

So what: Incyte's fourth-quarter results -- EPS of $0.14 on revenue of $113.9 million versus a loss of $0.44 and a top-line of $28.9 million in the year-ago period -- and outlook were so strong that analysts have no choice but to raise their price targets. In fact, net product revenues for its main blood cancer drug Jakafi surged to $43.3 million from just $2 million in the year-ago period, giving Wall Street plenty of good vibes over the treatment's adoption rate going forward.

Now what: Management now expects full-year 2013 net product revenues of $210 million-$225 million.

"This range reflects our expectations of the ongoing evolution of the myelofibrosis market including more physicians initiating Jakafi; renew appropriate patients and more physicians and patients successfully continuing Jakafi therapy as long as they experience clinical benefit," said CEO Paul Friedman in a conference call with analysts.

Of course, with the stock now up about 30% over the past two months alone, much of that optimism might already be baked into the price.

Interested in more info on Incyte? Add it to your watchlist.

Fool contributor Brian Pacampara has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.