INCY Price Prediction Next Week
Analysis and Insights
News Sentiment and Recent Developments:
Incyte (INCY) has recently announced positive results from its Phase 3 TRuE-PN clinical trial, demonstrating significant improvements in itch relief for patients with prurigo nodularis. Additionally, the company, in collaboration with Eli Lilly, reported promising results from the Phase 3 BRAVE-AA-PEDS study, showing significant hair regrowth in adolescents with severe alopecia areata. These positive clinical trial outcomes have generated optimism about the company's pipeline and growth potential.
However, there has been notable insider selling activity, with 77 insiders selling shares recently, including a significant sale by EVP Sheila A. Denton. This could indicate some internal concerns about short-term stock performance.
Technical Indicators Analysis:
- RSI (14): 46.65 (Neutral)
- MACD: -0.35 (Bearish Signal)
- Bollinger Bands: The stock is currently near the lower end of the Bollinger Bands, suggesting potential oversold conditions.
Fibonacci Levels:
- Pivot Point: $72.14
- Resistance Levels: $75.22, $77.12
- Support Levels: $69.05, $67.15
Analyst Consensus:
The average analyst price target for Incyte is $77.50, with a Moderate Buy consensus. TD Cowen has maintained a Buy rating with a price target of $88.00.
Price Prediction and Recommendation:
Based on the positive clinical trial results and analyst sentiment, Incyte's stock is expected to see upward momentum in the short term. However, the insider selling activity and current technical indicators suggest caution. The stock is likely to face resistance at $75.22, and a pullback may occur after reaching this level.
Predicted Price for Next Trading Week: $75.00
Recommendation: Sell at $75.00 as the stock approaches resistance levels.
INCY Similar Chart Price Prediction
The price of INCY is predicted to go up -7.2%, based on the high correlation periods with AIZ. The similarity of these two price pattern on the periods is 91.38%.
INCY
AIZ
Down: -7.2%Similarity: 91.38%
INCY Revenue Forecast
INCY EPS Forecast
INCY FAQs
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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
Brian Abrahams
RBC Capital
Hold
2025-02-11
Price Target
$70 → $68
Upside
+2.52%
RBC Capital analyst Brian Abrahams lowered the firm's price target on Incyte to $68 from $70 and keeps a Sector Perform rating on the shares. The company reported a "solid" Q4 and the management's guidance for Jakafi and for Niktimvo launch were okay, but with slightly disappointing guide for key long-term growth driver Opzelura, higher expected R&D spend, and perhaps some reaffirmation of the uncertainties going into the high-focus phase Povorcitinib HS - hidradenitis suppurativa - readout, the analyst tells investors in a research note.
David Lebowitz
Citigroup
Strong Buy
2025-02-11
Price Target
$97 → $88
Upside
+32.67%
Stephen Willey
Stifel
Hold
2025-02-10
Price Target
$75 → $77
Upside
+16.09%
