Extremely important positive changes in investment behavior have recently occurred for Incyte Corp (NASDAQ: INCY): its shorter term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, and the stock rose on very heavy volume.
Incyte Corp (NASDAQ: INCY). Minimal positive changes in fundamentals have recently occurred: significant quarterly earnings acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
INCY’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
Incyte has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Incyte has a good Appreciation Score of 72 but a slightly negative Power Rating of 36, with the Neutral Value Trend Rating the result.
Recent Price Action
Incyte Corp (NASDAQ: INCY) stock increased 1.3% on 6/7/24. The shares closed at $59.16. Moreover, this advance was accompanied by exceptionally high trading volume at 313% of normal. The stock has been weak relative to the market over the last nine months but has risen 3.2% during the last week.
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