Piper Jaffray Cos. set a $99.00 price target on Incyte Corp. (NASDAQ:INCY) in a research note released on Wednesday. The brokerage currently has a a buy rating on the biopharmaceutical company’s stock.
A number of other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. reiterated a buy rating on shares of Incyte Corp. in a report on Wednesday, September 28th. Barclays PLC increased their price objective on Incyte Corp. from $85.00 to $100.00 and gave the stock an overweight rating in a report on Wednesday, August 10th. Brean Capital reiterated a buy rating on shares of Incyte Corp. in a report on Monday, June 6th. Jefferies Group reiterated a buy rating and issued a $98.00 price objective on shares of Incyte Corp. in a report on Wednesday, August 10th. Finally, Leerink Swann reiterated a buy rating on shares of Incyte Corp. in a report on Monday, July 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-one have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $104.98.
Incyte Corp. (NASDAQ:INCY) opened at 94.29 on Wednesday. The stock has a market capitalization of $17.73 billion, a P/E ratio of 256.22 and a beta of 0.53. The company has a 50 day moving average of $82.94 and a 200-day moving average of $79.80. Incyte Corp. has a one year low of $55.00 and a one year high of $128.69.
Incyte Corp. (NASDAQ:INCY) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.20. The company earned $208 million during the quarter, compared to the consensus estimate of $236.91 million. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. The firm’s revenue for the quarter was up 51.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 earnings per share. Equities research analysts predict that Incyte Corp. will post $0.20 earnings per share for the current fiscal year.
In related news, EVP Reid M. Huber sold 10,000 shares of Incyte Corp. stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $87.96, for a total transaction of $879,600.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Paula J. Swain sold 60,000 shares of Incyte Corp. stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $90.00, for a total value of $5,400,000.00. Following the sale, the executive vice president now directly owns 89,248 shares in the company, valued at approximately $8,032,320. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of INCY. Candriam Luxembourg S.C.A. increased 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 valued at $27,039,000 after buying an additional 64,709 shares during the period. Capital Fund Management S.A. acquired a new stake in shares of Incyte Corp. during the second quarter valued at about $33,288,000. Royal Bank of Canada increased 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 valued at $45,042,000 after buying an additional 338,904 shares during the period. Geode Capital Management LLC increased 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 valued at $77,372,000 after buying an additional 48,498 shares during the period. Finally, Douglass Winthrop Advisors LLC acquired a new stake in shares of Incyte Corp. during the second quarter valued at about $221,000. 92.32% of the stock is currently owned by institutional investors.
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).
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