Incyte Corp (INCY) Gets a Buy Rating from J.P. Morgan
In a report released today, Cory Kasimov from J.P. Morgan maintained a Buy rating on Incyte Corp (INCY). The company’s shares opened today at $74.61.
According to TipRanks.com, Kasimov is a 2-star analyst with an average return of 0.3% and a 40.5% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Inc., BioMarin Pharmaceutical Inc., and ACADIA Pharmaceuticals Inc.
Currently, the analyst consensus on Incyte Corp is a Moderate Buy with an average price target of $88, a 17.9% upside from current levels. In a report issued on April 22, Cowen & Co. also assigned a Buy rating to the stock.
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The company has a one-year high of $88.83 and a one-year low of $57. Currently, Incyte Corp has an average volume of 1.24M.
Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of INCY in relation to earlier this year.
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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.