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Evercore ISI Remains a Hold on Incyte (INCY)

Tipranks - Sat Mar 7, 6:14AM CST

Evercore ISI analyst maintained a Hold rating on Incyte yesterday and set a price target of $110.00. The company’s shares closed yesterday at $97.33.

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In addition to Evercore ISI, Incyte also received a Hold from William Blair’s Matt Phipps in a report issued yesterday. However, today, Guggenheim maintained a Buy 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.

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