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Incyte Corporation (INCY) is a biopharmaceutical company.
The firm focuses on the discovery, development, and commercialization of various therapeutics in the United States.
The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
Its clinical stage products include ruxolitinib, a drug in Phase III clinical trial for steroid-refractory acute graft-versus-host-diseases (GVHD); and Phase II trial for the treatment of essential thrombocythemia and refractory myelofibrosis.
In addition, the company engages in the development of itacitinib, which is in Phase III clinical trial to treat naïve acute and chronic GVHD, as well as Phase I/II clinical trial in combination with osimertinib for non-small cell lung cancer (NSCLC); and pemigatinib that is in Phase II clinical trial for treating bladder cancer, cholangiocarcinoma, and 8p11 myeloproliferative syndrome, as well as a pivotal program for solid tumors with driver activations of FGF/FGFR. Further, it is involved in developing INCMGA0012 that is in Phase II clinical trials for MSI-high endometrial cancer, merkel cell carcinoma, and anal cancer.
Additionally, the company develops Parsaclisib, which is in Phase II clinical trial for follicular lymphoma, marginal zone lymphoma, and mantel cell lymphoma. It has collaboration agreements with Novartis International Pharmaceutical Ltd.; Eli Lilly and Company; Agenus Inc.; Jiangsu Hengrui Medicine Co., Ltd.; Merus N.V.; Calithera Biosciences, Inc; MacroGenics, Inc.; Syros Pharmaceuticals, Inc.; and Innovent Biologics, Inc.
Shares are heading higher in an upward trendline support. On October 29th, INCY reported 3rd Quarter September 2019 earnings of $0.71 per share on revenue of $551.6 million. The consensus earnings estimate was $0.66 per share on revenue of $534.5 million. Revenue grew 22.7% on a year-over-year basis. We expect higher share prices for this stock.
Entry Point: $90.00
Stop Loss: $85.50
Trading Range: $57.00 to $90.00
Target Price: $99.00
Closed at $90
