A number of other analysts also recently issued reports on INCY. JPMorgan Chase & Co. reissued a buy rating on shares of Incyte Corp. in a research report on Wednesday, September 28th. Piper Jaffray Cos. set a $99.00 target price on Incyte Corp. and gave the stock a buy rating in a research report on Wednesday, September 28th. Barclays PLC raised their target price on Incyte Corp. from $85.00 to $100.00 and gave the stock an overweight rating in a research report on Wednesday, August 10th. Jefferies Group reissued a buy rating and issued a $98.00 target price on shares of Incyte Corp. in a research report on Wednesday, August 10th. Finally, Leerink Swann reissued a buy rating on shares of Incyte Corp. in a research report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have issued a buy rating to the company. Incyte Corp. has an average rating of Buy and a consensus target price of $104.93.
Shares of Incyte Corp. (NASDAQ:INCY) traded down 0.55% during mid-day trading on Friday, hitting $97.29. The company had a trading volume of 426,805 shares. The company has a market capitalization of $18.29 billion, a PE ratio of 264.38 and a beta of 0.53. The company’s 50-day moving average is $85.39 and its 200 day moving average is $80.88. Incyte Corp. has a one year low of $55.00 and a one year high of $124.98.
Incyte Corp. (NASDAQ:INCY) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business earned $208 million during the quarter, compared to the consensus estimate of $236.91 million. During the same period last year, the business posted $0.05 earnings per share. The business’s revenue for the quarter was up 51.1% on a year-over-year basis. On average, equities research analysts forecast that Incyte Corp. will post $0.19 EPS for the current fiscal year.
In other news, EVP Paula J. Swain sold 60,000 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $90.00, for a total value of $5,400,000.00. Following the completion of the sale, the executive vice president now owns 89,248 shares of the company’s stock, valued at approximately $8,032,320. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Paula J. Swain sold 20,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,432,320. The disclosure for this sale can be found here. 13.70% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. bought a new stake in Incyte Corp. during the second quarter worth $104,000. Acrospire Investment Management LLC increased its position in shares of Incyte Corp. by 18.2% in the second quarter. Acrospire Investment Management LLC now owns 1,300 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 200 shares in the last quarter. Walleye Trading LLC acquired a new position in shares of Incyte Corp. during the second quarter worth about $120,000. Seven Eight Capital LLC acquired a new position in shares of Incyte Corp. during the first quarter worth about $113,000. Finally, Fifth Third Bancorp increased its position in shares of Incyte Corp. by 16.2% in the second quarter. Fifth Third Bancorp now owns 1,678 shares of the biopharmaceutical company’s stock worth $134,000 after buying an additional 234 shares in the last quarter. 92.32% of the stock is owned by institutional investors.
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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