INCY Price Prediction Next Week
Technical Analysis: INCY is currently trading near its 20-day SMA of $73.12, showing moderate momentum. The RSI at 56.60 indicates neutral territory, neither overbought nor oversold. The positive MACD of 0.83 suggests some bullish momentum in the short term.
Fibonacci Analysis: Current key levels:
- Resistance 3: $79.69
- Resistance 2: $77.56
- Resistance 1: $76.23
- Pivot: $74.09
- Support 1: $71.96
- Support 2: $70.63
- Support 3: $68.49
News Sentiment: Recent notable events show mixed signals:
- Negative insider sentiment with increased selling activity
- ETF outflows detected, indicating institutional selling pressure
- RBC Capital maintains Hold rating with $70 price target
Price Prediction for Next Week: Based on technical indicators and news sentiment:
- Most Likely Scenario (60% probability): Price will test Support 1 at $71.96
- Target Range: $71.96 - $74.09
- Key resistance at $76.23 likely to cap any upside
Recommendation: SELL
- Entry Point: Current market price
- Stop Loss: $76.23 (above Resistance 1)
- Target: $71.96 (Support 1)
Rationale:
- Negative insider sentiment
- ETF outflows indicating institutional selling
- Price struggling near 20-day SMA
- Conservative analyst ratings
INCY Similar Chart Price Prediction
The price of INCY is predicted to go up 5.48%, based on the high correlation periods with AZO. The similarity of these two price pattern on the periods is 96.71%.
INCY
AZO
Up: 5.48%Similarity: 96.71%
INCY Revenue Forecast
INCY EPS Forecast
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INCY VS S&P500
Incyte's Jakafi is the first FDA-approved treatment for a rare blood disorder known as myelofibrosis, giving it strong pricing power and market penetration.
Jakafi's label expansion and Opzelura's launch in dermatology provide near-term catalysts for the firm.
Incyte's broad array of pipeline oncology and autoimmune programs gives the firm a larger margin for error.
INCY Analyst's Forecast
Derek Archila
Wells Fargo
Hold
2024-12-19
Price Target
$68 → $70
Upside
+4.38%
Wells Fargo raised the firm's price target on Incyte to $70 from $68 and keeps an Equal Weight rating on the shares. The firm adjusted price targets in the Smid-cap biotechnology group as part of its 2025 outlook. Wells top sector picks target Ascendis Pharma (ASND), aTyr Pharma (ATYR), Rhythm Pharmaceuticals (RYTM), and Xencor (XNCR).
Nicholas Holowko
UBS
Hold
2024-12-17
Price Target
$77
Upside
+10.95%
Brian Abrahams
RBC Capital
Hold
2024-11-19
Price Target
$80 → $74
Upside
+4.88%
