BMO Capital Reiterates a Buy Rating on Incyte Corp

By Ryan Adsit

In a report issued on August 27, Ian Somaiya from BMO Capital reiterated a Buy rating on Incyte Corp (NASDAQ: INCY), with a price target of $172. The company’s shares closed yesterday at $123.54.

According to TipRanks.com, Somaiya is a 5-star analyst with an average return of 18.5% and a 57.7% success rate. Somaiya covers the Healthcare sector, focusing on stocks such as Arbutus Biopharma Corporation, Aeglea Biotherapeutics Inc, and Corcept Therapeutics Inc.

Incyte Corp has an analyst consensus of Moderate Buy, with a price target consensus of $147.88.

The company has a one year high of $153.15 and a one year low of $77.58. Currently, Incyte Corp has an average volume of 1.34M.

Based on the recent corporate insider activity of 79 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. Most recently, in June 2017, Eric H. Siegel, the EVP & GC of INCY bought 1,292 shares for a total of $86,127.

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 focuses on the discovery, development, development, formulation, manufacturing and commercialization of proprietary therapeutics to treat serious unmet medical needs, primarily in oncology. Its product, Jakafi, a JAK1 and JAK2 inhibitor, is currently approved in the U.S. for the treatment of intermediate or high-risk myelofibrosis and is in development as a potential treatment for other cancers. The companywas founded by Roy A. Whitfield in April 1991 and is headquartered in Wilmington, DE.