In a report released today, George Farmer from BMO Capital maintained a Hold rating on Incyte (INCY), with a price target of $94.00. The company’s shares closed last Thursday at $97.59.
According to TipRanks.com, Farmer is a 5-star analyst with an average return of 37.3% and a 62.1% success rate. Farmer covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical, Blueprint Medicines, and Seattle Genetics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Incyte with a $106.14 average price target, which is an 8.5% upside from current levels. In a report issued on July 23, Stifel Nicolaus also maintained a Hold rating on the stock.
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Based on Incyte’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $688 million and net profit of $290 million. In comparison, last year the company earned revenue of $530 million and had a net profit of $105 million.
Based on the recent corporate insider activity of 144 insiders, corporate insider sentiment is neutral on the stock.
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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. Whitfield in April 1991 and is headquartered in Wilmington, DE.
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