Incyte (INCY) Receives a Buy from J.P. Morgan

By Ryan Adsit

J.P. Morgan analyst Cory Kasimov maintained a Buy rating on Incyte (INCYResearch Report) yesterday. The company’s shares closed last Monday at $77.10.

According to TipRanks.com, Kasimov is a 4-star analyst with an average return of 6.1% and a 47.0% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Global Blood Therapeutics, and Alexion Pharmaceuticals.

Currently, the analyst consensus on Incyte is a Moderate Buy with an average price target of $90.64, representing a 18.4% upside. In a report issued on January 3, Oppenheimer also maintained a Buy rating on the stock with a $96.00 price target.

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The company has a one-year high of $96.79 and a one-year low of $72.00. Currently, Incyte has an average volume of 1.27M.

Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is neutral on the stock.

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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.