RBC Capital Markets reaffirmed their outperform rating on shares of Incyte Corp. (NASDAQ:INCY) in a research report report published on Monday. RBC Capital Markets currently has a $116.00 price objective on the biopharmaceutical company’s stock.
Other equities analysts also recently issued reports about the stock. Piper Jaffray Cos. set a $102.00 price objective on shares of Incyte Corp. and gave the company a buy rating in a report on Tuesday, August 16th. 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. Goldman Sachs Group Inc. reiterated a buy rating on shares of Incyte Corp. in a report on Wednesday, June 29th. SunTrust Banks Inc. initiated coverage on shares of Incyte Corp. in a report on Friday, August 5th. They issued a buy rating and a $105.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Incyte Corp. from a hold rating to a buy rating and set a $94.00 price objective on the stock in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Incyte Corp. has a consensus rating of Buy and a consensus price target of $105.40.
Shares of Incyte Corp. (NASDAQ:INCY) traded down 2.74% during midday trading on Monday, hitting $93.32. 524,107 shares of the company were exchanged. The company has a 50-day moving average of $85.96 and a 200 day moving average of $81.25. Incyte Corp. has a one year low of $55.00 and a one year high of $124.98. The company has a market capitalization of $17.54 billion, a P/E ratio of 253.59 and a beta of 0.53.
Incyte Corp. (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating 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 had revenue of $208 million for the quarter, compared to the consensus estimate of $236.91 million. During the same period in the previous year, the company earned $0.05 earnings per share. The company’s quarterly revenue was up 51.1% on a year-over-year basis. On average, equities research analysts expect that Incyte Corp. will post $0.19 earnings per share for the current fiscal year.
In other Incyte Corp. news, EVP Paula J. Swain sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 49,248 shares in the company, valued at approximately $4,432,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Reid M. Huber sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $87.96, for a total value of $879,600.00. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Aperio Group LLC boosted its position in 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. boosted its position 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 worth $6,785,000 after buying an additional 23,800 shares in the last quarter. BlackRock Japan Co. Ltd boosted its position 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 worth $15,189,000 after buying an additional 3,417 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of Incyte Corp. during the first quarter worth about $812,000. Finally, Spark Investment Management LLC purchased a new position in shares of Incyte Corp. during the first quarter worth about $920,000. Hedge funds and other institutional investors 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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