Incyte Corp. (NASDAQ:INCY) had its price target increased by Leerink Swann from $95.00 to $98.00 in a research note issued to investors on Monday. They currently have an outperform rating on the biopharmaceutical company’s stock.
INCY has been the subject of several other research reports. RBC Capital Markets reissued an outperform rating and issued a $116.00 price target on shares of Incyte Corp. in a research report on Wednesday, September 28th. Barclays PLC increased their price target on shares of Incyte Corp. from $85.00 to $100.00 and gave the stock an overweight rating in a research report on Wednesday, August 10th. Piper Jaffray Cos. reaffirmed a buy rating and set a $102.00 price objective (up from $76.00) on shares of Incyte Corp. in a research note on Monday, August 1st. SunTrust Banks Inc. began coverage on shares of Incyte Corp. in a research note on Friday, August 5th. They set a buy rating and a $105.00 price objective on the stock. Finally, JMP Securities reaffirmed an outperform rating and set a $100.00 price objective on shares of Incyte Corp. in a research note on Wednesday, June 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-two have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $105.70.
Incyte Corp. (NASDAQ:INCY) opened at 95.69 on Monday. The firm has a market capitalization of $17.99 billion, a P/E ratio of 260.03 and a beta of 0.54. The firm has a 50-day moving average price of $84.25 and a 200-day moving average price of $80.57. Incyte Corp. has a 52 week low of $55.00 and a 52 week high of $124.98.
Incyte Corp. (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.20. Incyte Corp. had a net margin of 7.87% and a return on equity of 37.76%. The firm earned $208 million during the quarter, compared to analyst estimates of $236.91 million. During the same quarter in the prior year, the business posted $0.05 earnings per share. The company’s quarterly revenue was up 51.1% compared to the same quarter last year. Equities analysts forecast that Incyte Corp. will post $0.20 EPS for the current year.
In related news, EVP Reid M. Huber sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $87.96, for a total transaction of $879,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Paula J. Swain sold 20,000 shares of the firm’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $90.00, for a total transaction of $1,800,000.00. Following the sale, the executive vice president now owns 49,248 shares in the company, valued at $4,432,320. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.
Large investors have recently modified their holdings of the company. Aperio Group LLC raised its stake in shares of Incyte Corp. by 10.6% in the first quarter. Aperio Group LLC now owns 28,947 shares of the biopharmaceutical company’s stock worth $2,098,000 after buying an additional 2,777 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Incyte Corp. by 34.1% in the first quarter. Prudential Financial Inc. now owns 93,615 shares of the biopharmaceutical company’s stock valued at $6,785,000 after buying an additional 23,800 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Incyte Corp. during the first quarter valued at about $523,000. BlackRock Japan Co. Ltd raised its stake in shares of Incyte Corp. by 1.7% in the first quarter. BlackRock Japan Co. Ltd now owns 209,597 shares of the biopharmaceutical company’s stock valued at $15,189,000 after buying an additional 3,417 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of Incyte Corp. during the first quarter valued at about $812,000. 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).
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