Oppenheimer Sticks to Their Buy Rating for Incyte (INCY)
In a report released yesterday, Jay Olson from Oppenheimer maintained a Buy rating on Incyte (INCY), with a price target of $96.00. The company’s shares closed last Monday at $78.05.
According to TipRanks.com, Olson has 0 stars on 0-5 star ranking scale with an average return of -9.1% and a 35.4% success rate. Olson covers the Healthcare sector, focusing on stocks such as Enanta Pharmaceuticals, Axovant Gene Therapies, and CymaBay Therapeutics.
Incyte has an analyst consensus of Moderate Buy, with a price target consensus of $91.36, a 17.7% upside from current levels. In a report released yesterday, Cowen & Co. also assigned a Buy rating to the stock.
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Incyte’s market cap is currently $16.33B and has a P/E ratio of 41.89. The company has a Price to Book ratio of 6.94.
Based on the recent corporate insider activity of 114 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.