Jim Cramer Calls Incyte “Way Too Cheap”

Incyte Corporation (NASDAQ:INCY) is one of the relatively cheap S&P 500 stocks Jim Cramer talked about. Cramer mentioned that it is the healthcare stock that “stands out” to him. He stated:

“What else? Now, we know healthcare has been mostly a wasteland this year, which is why only four stocks in the group passed the screen. Among those four, the one that stands out to me is Incyte, a biopharma company with nine approved products, mostly in oncology and dermatology, plus a robust pipeline, which is why the stock’s up almost 23% year to date. Still, Incyte’s expected to have 19% earnings growth, and it trades at just under 12 times next year’s numbers. That’s again, way too cheap.”

A stock market data. Photo by Alesia Kozik on Pexels

Incyte Corporation (NASDAQ:INCY) is a biopharmaceutical company focused on developing and commercializing therapies for oncology, hematology, dermatology, and immune disorders. Cramer discussed the company CEO’s strategies in a June episode. He remarked:

“We then have Incyte. That’s a biotech company. It just got a new CEO, Bill Meury. He’s an industry veteran, known as a deal maker. Makes sense. Meury was previously the CEO of Karuna Therapeutics, which he sold to Bristol Myers for a very nice premium, that better start working soon. Before that, he was… [the] chief commercial officer at Allergan. It’s a company famous for its deal-making.”

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Disclosure: None. This article is originally published at Insider Monkey.