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J.P. Morgan Thinks Incyte Corp’s Stock is Going to Recover


J.P. Morgan analyst Cory Kasimov maintained a Buy rating on Incyte Corp (NASDAQ: INCY) on September 13. The company’s shares closed on Friday at $68.09, close to its 52-week low of $60.23.

According to TipRanks.com, Kasimov is a 3-star analyst with an average return of 2.9% and a 40.9% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Global Blood Therapeutics, and Jounce Therapeutics Inc.

Currently, the analyst consensus on Incyte Corp is a Moderate Buy with an average price target of $81.38, representing a 19.5% upside. In a report issued on August 30, Argus Research also maintained a Buy rating on the stock with a $83 price target.

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The company has a one-year high of $120.97 and a one-year low of $60.23. Currently, Incyte Corp has an average volume of 1.67M.

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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.