Stock Rating Upgrade
The Value Trend Rating for Incyte Corp (NASDAQ: INCY) improved of late from C to B reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
Incyte Corp (NASDAQ: INCY) stock declined modestly by -1.1% on 8/9/24. The stock closed at $61.08. However, trading volume in this decline was exceptionally low at 35% of normal. The stock has performed in line with the market over the last nine months and has declined -5.2% during the last week.
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 B (Positive). This VT Rating improved in recent days from C previously. The Value Trend Rating reflects consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Incyte has a neutral Power Rating of 60 and a slightly positive Appreciation Score of 66, resulting in the Positive Value Trend Rating.
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