In a report released yesterday, Jay Olson from Oppenheimer maintained a Buy rating on Incyte (INCY), with a price target of $110.00. The company’s shares closed last Tuesday at $81.03, close to its 52-week low of $75.52.
According to TipRanks.com, Olson is a 3-star analyst with an average return of 4.8% and a 48.2% success rate. Olson covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Madrigal Pharmaceuticals, and ACADIA Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Incyte with a $99.14 average price target, a 18.7% upside from current levels. In a report issued on April 26, William Blair also reiterated a Buy rating on the stock.
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Based on Incyte’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $790 million and net profit of $150 million. In comparison, last year the company earned revenue of $579 million and had a net profit of $111 million.
Based on the recent corporate insider activity of 123 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.
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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.
