Leerink Swann reiterated their outperform rating on shares of Incyte Corp. (NASDAQ:INCY) in a research report report published on Wednesday. Leerink Swann currently has a $98.00 price objective on the biopharmaceutical company’s stock.
A number of other research firms also recently issued reports on INCY. JMP Securities restated an outperform rating and set a $100.00 price target on shares of Incyte Corp. in a research note on Wednesday, June 15th. Goldman Sachs Group Inc. restated a buy rating on shares of Incyte Corp. in a research note on Wednesday, June 29th. Royal Bank Of Canada initiated coverage on Incyte Corp. in a research note on Tuesday, July 12th. They set an outperform rating and a $105.00 price target for the company. Zacks Investment Research upgraded Incyte Corp. from a hold rating to a buy rating and set a $94.00 price target for the company in a research note on Tuesday, July 19th. Finally, Piper Jaffray Cos. restated a buy rating and set a $102.00 price target (up from $76.00) on shares of Incyte Corp. in a research note on Monday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $105.03.
Shares of Incyte Corp. (NASDAQ:INCY) opened at 87.10 on Wednesday. The stock has a market capitalization of $16.37 billion, a P/E ratio of 236.68 and a beta of 0.53. Incyte Corp. has a 52 week low of $55.00 and a 52 week high of $124.98. The company has a 50-day moving average of $86.88 and a 200-day moving average of $81.58.
Incyte Corp. (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.20. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. The company earned $208 million during the quarter, compared to the consensus estimate of $236.91 million. During the same period last year, the company earned $0.05 EPS. Incyte Corp.’s revenue for the quarter was up 51.1% on a year-over-year basis. On average, analysts anticipate that Incyte Corp. will post $0.19 EPS for the current year.
In related news, EVP Paula J. Swain sold 20,000 shares of the 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 approximately $4,432,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Reid M. Huber sold 10,000 shares of the stock in a transaction on Tuesday, August 2nd. The shares were 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. Corporate insiders own 13.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in INCY. National Pension Service raised its stake in Incyte Corp. by 9.3% in the third quarter. National Pension Service now owns 135,659 shares of the biopharmaceutical company’s stock valued at $12,791,000 after buying an additional 11,561 shares during the last quarter. CT Financial Advisors LLC raised its stake in Incyte Corp. by 2.0% in the third quarter. CT Financial Advisors LLC now owns 10,036 shares of the biopharmaceutical company’s stock valued at $946,000 after buying an additional 198 shares during the last quarter. Atria Investments LLC raised its stake in Incyte Corp. by 32.8% in the third quarter. Atria Investments LLC now owns 3,450 shares of the biopharmaceutical company’s stock valued at $325,000 after buying an additional 852 shares during the last quarter. British Columbia Investment Management Corp raised its stake in Incyte Corp. by 26.7% in the third quarter. British Columbia Investment Management Corp now owns 68,750 shares of the biopharmaceutical company’s stock valued at $6,482,000 after buying an additional 14,488 shares during the last quarter. Finally, Cupps Capital Management LLC bought a new stake in Incyte Corp. during the third quarter valued at $358,000. Institutional investors own 92.38% of the company’s stock.
Incyte Corp. Company Profile
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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