Guggenheim Remains a Buy on Incyte (INCY)
In a report released today, Michael Schmidt from Guggenheim maintained a Buy rating on Incyte, with a price target of $130.00.
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Schmidt covers the Healthcare sector, focusing on stocks such as Genmab, Verastem, and Incyte. According to TipRanks, Schmidt has an average return of 30.7% and a 54.97% success rate on recommended stocks.
In addition to Guggenheim, Incyte also received a Buy from Barclays’s Etzer Darout in a report issued on March 3. However, yesterday, William Blair maintained a Hold rating on Incyte (NASDAQ: INCY).
Based on Incyte’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.51 billion and a net profit of $299.28 million. In comparison, last year the company earned a revenue of $1.18 billion and had a net profit of $201.21 million
Based on the recent corporate insider activity of 103 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, Pablo Cagnoni, the President of INCY sold 18,668.00 shares for a total of $1,883,787.88.
Read More on INCY:
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- Eli Lilly, Incyte: EMA’s CHMP issues positive opinion for Olumiant
- Knight Therapeutics announces NIKTIMVO regulatory submission in Brazil
- Incyte price target raised to $117 from $116 at Barclays
- Incyte’s Profit Outlook Threatened by Emerging U.S. ‘Most Favored Nation’ Drug Pricing Policies
- Incyte price target raised to $102 from $94 at Morgan Stanley
