William Blair Reaffirms Their Buy Rating on Incyte (INCY)
In a report issued on April 12, Matt Phipps from William Blair reiterated a Buy rating on Incyte (INCY). The company’s shares closed last Thursday at $83.20.
According to TipRanks.com, Phipps is a 1-star analyst with an average return of -0.4% and a 39.7% success rate. Phipps covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Pieris Pharmaceuticals, and Chinook Therapeutics.
Currently, the analyst consensus on Incyte is a Hold with an average price target of $92.00, an 11.0% upside from current levels. In a report issued on April 12, Oppenheimer also assigned a Buy rating to the stock with a $110.00 price target.
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Incyte’s market cap is currently $18.29B and has a P/E ratio of -58.00. The company has a Price to Book ratio of 7.76.
Based on the recent corporate insider activity of 125 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.
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