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Zacks Investment Research downgraded Incyte Corporation (NASDAQ:INCY) to Hold in a report released today.

Zacks Investment Research has downgraded Incyte Corporation (NASDAQ:INCY) to Hold in a report released on 11/29/2016.

Previously on 2/22/2016, Argus reported on Incyte Corporation (NASDAQ:INCY) reduced the target price from $135.00 to $92.00. At the time, this indicated a possible upside of 0.24%.

Just yesterday Incyte Corporation (NASDAQ:INCY) traded 0.17% higher at $105.58. Incyte Corporation’s 50-day moving average is $94.75 and its 200-day moving average is $86.28. The last closing price is up 22.10% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.03% over the same time period. 612,957 shares of INCY traded hands, down from an average trading volume of 1,428,950

Recent Performance Chart

Incyte Corporation (NASDAQ:INCY)

Incyte Corporation has 52 week low of $55.00 and a 52 week high of $118.49 with a PE ratio of 141.60 and has a market capitalization of $0.

In addition to Zacks Investment Research reporting its stock price target, a total of 14 brokers have issued a research note on the company. The average stock price target is $91.36 with 7 brokers rating the stock a strong buy, 8 brokers rating the stock a buy, 1 broker rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.

Brief Synopsis On Incyte Corporation (NASDAQ:INCY)

Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK). The Company's pipeline includes compounds in various stages, ranging from preclinical to late stage development, and a commercialized product, JAKAFI (ruxolitinib). The Company has discovered multiple potent, selective and orally bioavailable JAK inhibitors that are selective for JAK1 or JAK1 and JAK2. JAKAFI is the compound in its JAK program, which is an oral JAK1 and JAK2 inhibitor. JAKAFI orphan drug is indicated for Myelofibrosis (MF), Polycythemia Vera (PV) and essential thrombocythemia. The Company's second oral JAK1 and JAK2 inhibitor is baricitinib.

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