Cantor Fitzgerald analyst Alethia Young reiterated a Hold rating on Incyte Corp (INCY) yesterday and set a price target of $74. The company’s shares closed yesterday at $83.42.
Young observed:
“. We are reiterating our Neutral rating on INCY with a 12- month price target of $74. From the 4Q18 print, we thought the INCY quarter and guidance were positive. The reported Jakafi revenue of $380M was in line with the FactSet consensus estimate of $377M, and the reported Iclusig revenue of $19M was slightly below consensus estimates ($22M). The company issued its guidance of $1.58-1.65B vs. consensus of $1.59B for Jakafi, which remains a key focus of the story. Of note, Jakafi guidance for 2019 included the potential oppt’y in GVHD, pending FDA approval. R&D guidance was flat on the low end to slightly up.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 4.9% and a 47.0% success rate. Young covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Vertex Pharmaceuticals, and Sarepta Therapeutics.
Currently, the analyst consensus on Incyte Corp is a Moderate Buy with an average price target of $90.10, which is an 8.0% upside from current levels. In a report issued on February 7, JMP Securities also maintained a Hold rating on the stock.
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The company has a one-year high of $96.33 and a one-year low of $57. Currently, Incyte Corp has an average volume of 1.65M.
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Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development, and commercialization of proprietary therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late stage development, and commercialized products such as JAKAFI (ruxolitinib), and ICLUSIG (ponatinib). The company was founded by Roy A.
