Incyte Corporation shares took a hit late trading Thursday, after news of disappointing results on one of its clinical trials.
The pharmaceutical company revealed that one of its drugs fell short of meeting its primary endpoint in a phase 3 trial. According Incyte’s statement, its JAK1 inhibitor itacitinib in combination with corticosteroids, “did not statistically improve overall response rate or non-relapse mortality” in patients with acute graft-versus-host disease. That is, it did not meet the primary endpoint of a statistically significant improvement in overall response rate (ORR) at Day 28 compared to placebo plus corticosteroids; also, no difference was found in non-relapse mortality at month 6, which is a crucial secondary endpoint.
The above-mentioned disease is often seen in patients undergoing bone marrow or organ transplants. Results of the trial will be submitted at a future medical conference.
Incyte shares were down around -10% after hours.
The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.
INCY may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Momentum Indicator moved below the 0 level on March 15, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on INCY as a result. In of 103 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The 50-day moving average for INCY moved below the 200-day moving average on March 18, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where INCY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for INCY entered a downward trend on April 22, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. INCY’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.246) is normal, around the industry mean (10.055). P/E Ratio (19.592) is within average values for comparable stocks, (116.479). INCY's Projected Growth (PEG Ratio) (0.669) is slightly lower than the industry average of (1.463). INCY has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.015). P/S Ratio (3.174) is also within normal values, averaging (213.711).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. INCY’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 94, placing this stock worse than average.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a developer of drugs
Industry Biotechnology