Incyte Corp. (NASDAQ:INCY) was upgraded by equities researchers at Raymond James Financial Inc. from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday. The firm presently has a $115.00 price objective on the biopharmaceutical company’s stock. Raymond James Financial Inc.’s price target points to a potential upside of 21.96% from the company’s previous close.
INCY has been the topic of several other research reports. RBC Capital Markets reissued an “outperform” rating and set a $116.00 target price on shares of Incyte Corp. in a research note on Wednesday, September 28th. Barclays PLC raised their target price on shares of Incyte Corp. from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 10th. Piper Jaffray Cos. reissued a “buy” rating and set a $102.00 target price (up previously from $76.00) on shares of Incyte Corp. in a research note on Monday, August 1st. SunTrust Banks Inc. assumed coverage on shares of Incyte Corp. in a research note on Friday, August 5th. They set a “buy” rating and a $105.00 target price on the stock. Finally, JMP Securities reissued an “outperform” rating and set a $100.00 target price on shares of Incyte Corp. in a research note on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-one have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $104.98.
Incyte Corp. (NASDAQ:INCY) opened at 94.29 on Thursday. Incyte Corp. has a 52 week low of $55.00 and a 52 week high of $128.69. The stock has a market cap of $17.73 billion, a P/E ratio of 256.22 and a beta of 0.71. The company’s 50 day moving average is $82.94 and its 200 day moving average is $79.80.
Incyte Corp. (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.20. The firm had revenue of $208 million for the quarter, compared to the consensus estimate of $236.91 million. Incyte Corp. had a net margin of 7.87% and a return on equity of 37.76%. Incyte Corp.’s quarterly revenue was up 51.1% compared to the same quarter last year. During the same period last year, the firm posted $0.05 EPS. Equities analysts predict that Incyte Corp. will post $0.20 earnings per share for the current year.
In other news, EVP Paula J. Swain sold 20,000 shares of the business’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $90.00, for a total value of $1,800,000.00. Following the completion of the sale, the executive vice president now directly owns 49,248 shares in the company, valued at $4,432,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Reid M. Huber sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $87.96, for a total transaction of $879,600.00. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Candriam Luxembourg S.C.A. boosted its stake in shares of Incyte Corp. by 23.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 338,061 shares of the biopharmaceutical company’s stock worth $27,039,000 after buying an additional 64,709 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in shares of Incyte Corp. during the second quarter worth $33,288,000. Royal Bank of Canada boosted its stake in shares of Incyte Corp. by 119.9% in the first quarter. Royal Bank of Canada now owns 621,527 shares of the biopharmaceutical company’s stock worth $45,042,000 after buying an additional 338,904 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Incyte Corp. by 4.8% in the first quarter. Geode Capital Management LLC now owns 1,068,236 shares of the biopharmaceutical company’s stock worth $77,372,000 after buying an additional 48,498 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC purchased a new stake in shares of Incyte Corp. during the second quarter worth $221,000. Institutional investors and hedge funds own 92.32% of the company’s stock.
About Incyte Corp.
Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK).
Receive News & Ratings for Incyte Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corp. and related companies with MarketBeat.com's FREE daily email newsletter.