Incyte Corp (INCY) Received its Third Buy in a Row
After Guggenheim and JMP Securities gave Incyte Corp (NASDAQ: INCY) a Buy rating last month, the company received another Buy, this time from Cowen & Co. Analyst Marc Frahm maintained a Buy rating on Incyte Corp today. The company’s shares closed last Monday at $78.23.
According to TipRanks.com, Frahm has 0 stars on 0-5 star ranking scale with an average return of -6.7% and a 38.2% success rate. Frahm covers the Healthcare sector, focusing on stocks such as Adaptimmune Therapeutics, Magenta Therapeutics Inc, and Applied Therapeutics Inc.
Currently, the analyst consensus on Incyte Corp is a Moderate Buy with an average price target of $94.83, a 21.5% upside from current levels. In a report issued on October 2, Mizuho Securities also initiated coverage with a Buy rating on the stock with a $95.00 price target.
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The company has a one-year high of $89.30 and a one-year low of $57.00. Currently, Incyte Corp has an average volume of 1.1M.
Based on the recent corporate insider activity of 97 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.