William Blair analyst Matt Phipps reiterated a Buy rating on Incyte (INCY) on April 26. The company’s shares closed last Friday at $85.39.
According to TipRanks.com, Phipps is a 2-star analyst with an average return of 1.0% and a 43.8% success rate. Phipps covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Pieris Pharmaceuticals, and Chinook Therapeutics.
Incyte has an analyst consensus of Hold, with a price target consensus of $92.00, representing an 8.9% upside. 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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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 122 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.
