In a report released yesterday, Jay Olson from Oppenheimer maintained a Buy rating on Incyte (INCY), with a price target of $99.00. The company’s shares closed last Monday at $82.42.
According to TipRanks.com, Olson is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.8% and a 36.0% success rate. Olson covers the Healthcare sector, focusing on stocks such as Enanta Pharmaceuticals, Axovant Gene Therapies, and CymaBay Therapeutics.
Currently, the analyst consensus on Incyte is a Moderate Buy with an average price target of $91.50, a 14.8% upside from current levels. In a report issued on February 13, Cowen & Co. also assigned a Buy rating to the stock.
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Based on Incyte’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $111 million. In comparison, last year the company had a net profit of $69.06 million.
Based on the recent corporate insider activity of 115 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
