Goldman Sachs Upgrades Incyte (INCY) to Conviction Buy

January 15, 2019 5:48 AM EST
Get Alerts INCY Hot Sheet
Price: $69.50 -0.09%

Rating Summary:
    16 Buy, 14 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 4 | Down: 17 | New: 8
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Goldman Sachs analyst Salveen Richter upgraded Incyte (NASDAQ: INCY) from Buy to Conviction Buy with a price target of $111.00 (from $102.00).

The analyst says the pipeline offers M&A optionality and believes the company scans as an attractive M&A target given the valuation is below the median NTM EV.Sales multiple for deals over the prior 11-year period.

Richter sees "significant value" on the company's commercial business and pipeline.

For an analyst ratings summary and ratings history on Incyte click here. For more ratings news on Incyte click here.

Shares of Incyte closed at $73.54 yesterday.

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