On Wednesday, Incyte got an upgrade for its IBD SmartSelect Composite Rating from 90 to 98.
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The new rating is a sign the stock is outpacing 98% of all stocks when it comes to the most important stock-picking criteria. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.
Incyte is currently forming a consolidation, with an 83.95 buy point. See if the stock can break out in heavy trade at least 40% above average.
One weak spot is the company's 79 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
In Q2, the company posted 0% EPS growth. Top line growth fell to 16%, down from 20% in the prior quarter.
Incyte earns the No. 1 rank among its peers in the Medical-Biomed/Biotech industry group. Inhibrx Biosciences and Kiniksa Pharmaceuticals are also among the group's highest-rated stocks.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.