On Tap for This Week: Incyte Corporation (INCY), Molson Coors Brewing Company (TAP)?

Incyte Corporation (NASDAQ:INCY) average daily volatility for this week is 1.92% which is less than the 2.76% recorded over the past month. Its shares dropped by -16.73% or -$16.12 from its last recorded high of $96.33 which it attained on March 14 to close at $80.21 per share. Over the past 52 weeks, the shares of Incyte Corporation has been trading as low as $57 before witnessing a massive surge by 40.72% or $23.21. This price movement has led to the INCY stock receiving more attention and has become one to watch out for. It dipped by -0.82% on Monday and this got the market worried. The stock’s beta now stands at 1.38 and when compared to its 200-day moving average and its 50-day moving average, INCY price stands 17.44% above and 12.68% above respectively.

Incyte Corporation (INCY) sank -1.7% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a drop that has seen it decline -4.42% and is now up by 26.14% since start of this year. A look at its monthly performance shows that the stock has recorded a 6.78% gain over the past 30 days. Its equity price climbed by 16.2% over the past three months which led to its overall six-month increase to stand at 24.59%.

Experts from research firms are bullish about the near-term performance of Incyte Corporation with most of them predicting a $85.63 price target on a short-term (12 months) basis. The average price target by the analysts will see a 6.76% rise in the stock and would lead to INCY’s market cap to surge to $18.21B. The stock has been rated an average 2, which roughly stands towards the bullish end of the spectrum. Reuters looked into the 20 analysts that track Incyte Corporation (NASDAQ:INCY) and find out that 6 of them rated it as a Hold. 14 of the 14 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.

A look at INCY technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 58.51 point. Its trading volume has lost -521602 shares compared to readings over the past three months as it recently exchanged 1118398 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 1640000 shares, and this is 0.68 times the normal volume.

The price of Molson Coors Brewing Company (NYSE:TAP) currently stands at $65.36 after it went up by $0.42 or 0.65% and has found a strong support at $64.84 a share. If the TAP price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $64.32 mark would also be bad for the stock as it means that the stock would plunge by 1.59% from its current position. However, if the stock price is able to trade above the resistance point around $65.64, then it could likely surge higher to try and break the upward resistance which stands at $65.91 a share. Its average daily volatility over the past one month stands at 1.84%. The stock has plunged by 1.17% from its 52-weeks high of $64.595 which it reached on Feb. 16, 2018. In general, it is 17.12% above its 52-weeks lowest point which stands at $54.17 and this setback was observed on Dec. 24, 2018.

Analysts have predicted a price target for Molson Coors Brewing Company (TAP) for 1 year and it stands at an average $71.53/share. This means that it would likely increase by 9.44% from its current position. The current price of the stock has been moving between $64.595 and $65.39. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $52. On the other hand, one analyst is super bullish about the price, setting a target as high as $85.

The TAP stock Stochastic Oscillator (%D) is at 52.51%, which means that it is currently neutral. The shares P/S ratio stands at 1.3 which compares to the 23.85 recorded by the industry or the 6.18 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 13.18, which is higher than the 11.64 multiple of 12-month price-earnings (P/E). The company’s earnings have gone up, with a quarterly increase rate of 13.2% over the past five years.

Analysts view Molson Coors Brewing Company (NYSE:TAP) as a Hold, with 2.5 consensus rating. Reuters surveyed 17 analysts that follow TAP and found that 8 of those analysts rated the stock as a Hold. The remaining 9 were divided, with 8 analyst rating it as a Buy or a Strong Buy while 1 analysts advised investors to desist from buying Molson Coors Brewing Company (TAP) shares or sell it if they already own it.