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JMP Securities Sticks to Their Buy Rating for Incyte (INCY)

In a report released yesterday, Reni Benjamin from JMP Securities maintained a Buy rating on Incyte (INCYResearch Report), with a price target of $108.00. The company’s shares closed last Monday at $73.35.

According to TipRanks.com, Benjamin ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -12.1% and a 31.2% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals, Spectrum Pharmaceuticals, and Iovance Biotherapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Incyte with a $100.14 average price target, implying a 37.7% upside from current levels. In a report issued on January 26, Bank of America Securities also maintained a Buy rating on the stock with a $93.00 price target.

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The company has a one-year high of $94.50 and a one-year low of $61.91. Currently, Incyte has an average volume of 2.18M.

Based on the recent corporate insider activity of 106 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.

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 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. Whitfield in April 1991 and is headquartered in Wilmington, DE.

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