Oppenheimer analyst Jay Olson maintained a Buy rating on Incyte (INCY) today and set a price target of $85.00. The company’s shares closed last Monday at $67.43, close to its 52-week low of $62.48.
According to TipRanks.com, Olson is ranked 0 out of 5 stars with an average return of -14.9% and a 28.0% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, ACADIA Pharmaceuticals, and Enanta Pharmaceuticals.
Currently, the analyst consensus on Incyte is a Moderate Buy with an average price target of $91.15, which is a 39.4% upside from current levels. In a report issued on March 13, Merrill Lynch also upgraded the stock to Buy with a $83.00 price target.
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Incyte’s market cap is currently $13.7B and has a P/E ratio of 32.80. The company has a Price to Book ratio of 6.45.
Based on the recent corporate insider activity of 117 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. Whitfield in April 1991 and is headquartered in Wilmington, DE.
