Wells Fargo Remains a Hold on Incyte (INCY)

Wells Fargo analyst Derek Archila reiterated a Hold rating on Incyte today and set a price target of $101.00.

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Archila covers the Healthcare sector, focusing on stocks such as Ascendis Pharma, Argenx Se, and Incyte. According to TipRanks, Archila has an average return of 20.3% and a 54.51% success rate on recommended stocks.

In addition to Wells Fargo, Incyte also received a Hold from Morgan Stanley’s Judah Frommer in a report issued today. However, on the same day, TD Cowen maintained a Buy rating on Incyte (NASDAQ: INCY).

Based on Incyte’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.37 billion and a net profit of $424.17 million. In comparison, last year the company earned a revenue of $1.14 billion and had a net profit of $106.46 million

Based on the recent corporate insider activity of 105 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of INCY in relation to earlier this year. Last month, Mohamed Khairie Issa, the EVP, Head of US Oncology of INCY sold 19,120.00 shares for a total of $2,065,502.16.