Incyte Corporation (NASDAQ:INCY) Upgraded at Jaffray

Piper Jaffray raised its price target for Incyte Corporation (NASDAQ:INCY) to $121 citing the company’s “evolving” pipeline following its analyst event. Piper notes the company will present data at ASCO for its combination JAK1/PI3K inhibitors for treatment of B-cell malignancies and is talking to the FDA regarding a pivotal trial in Hodgkin’s lymphoma. It reiterates an Overweight rating on Incyte.

Incyte Corporation, a NMS listed company, has a current market cap of 18.12B and on average over the past 3 months has seen 1198000 shares trade hands on a daily basis.

There are a number of sell-side research firms which offer projections on earnings and future direction of the stock. Wall Street analysts have a consensus short term price of 94.67 on the equity. On a trailing twelve month basis, the company’s earnings per share stands at -0.29. The consensus analyst estimates according to Thomson Reuters First Call for the next quarter is -0.13. The current year EPS estimate on the stock is -0.25 and the EPS estimate for next year sits at 0.98.

On a technical level the stock has a 50 Day Moving Average of 92.92. Based on a recent trade, this puts the equity at +13.55% away from that average. In comparing the stock’s current level to its extended history, the stock is trading -0.42% away from its 52-week high of 105.96 and +142.89% away from the stock’s low point over the past 52 weeks, which was 43.44.

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