Benzinga's Top Pre-Market NASDAQ Gainers (INCY, APSG, ITMN, SPPI)

Incyte Corporation INCY rose 17.98% to $17.72 in the pre-market session. INCY's shares have surged 76.91% over the past 52 weeks, while the S&P 500 index has gained 12.83% in the same period. Applied Signal Technology Inc APSG added 7.94% to $37.80 in the pre-market session. Raytheon Co RTN announced its plans to buy APSG for $38 per share in cash, representing a 9% premium over APSG's closing price on Friday. InterMune Inc ITMN moved up 5.33% to $36.75 in the pre-market session. Analysts at RW Baird upgrade ITMN from “neutral” to “outperform.” Spectrum Pharmaceuticals Inc SPPI soared 4.98% to $6.32 in the pre-market trading. SPPI will start trading on the NASDAQ Global Select Market, with effect from January 3, 2011. Read more from Benzinga's Markets.