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Stock Investors Sell Off Shares of Incyte, Down 2.9%

Published on Fri, 04/12/2013 - 12:19
By Peter Chu

Incyte (NASDAQ:INCY) is a company whose shares are active, trading 2.9% lower to $21.82. The S&P is currently trading 0.5% lower to 1,585 and the Dow Jones Industrial Average is trading 0.2% lower to 14,831.

Incyte Corporation is using its expertise in genomics and medicinal chemistry, as well as molecular, cellular, and in vivo biology to discover and develop novel therapeutics. The Company has drug discovery programs underway focused on the identification of new small molecule drugs for cancer and inflammation.

Incyte share prices have moved between a 52-week high of $26.30 and a 52-week low of $11.76 and are now trading 86% above that low price at $21.82 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.

There is potential upside of 15.7% for shares of Incyte based on a current price of $21.82 and an average consensus analyst price target of $25.25. Incyte shares have support at the 50-day moving average (MA) of $21.51 and additional support at the 200-day MA of $19.75.

By Peter Chu
pchu@fnno.com

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