Incyte Corp. (NASDAQ:INCY) had its target price lifted by Royal Bank Of Canada from $106.00 to $113.00 in a report released on Wednesday morning. Royal Bank Of Canada currently has an outperform rating on the biopharmaceutical company’s stock.
A number of other equities research analysts also recently commented on INCY. JPMorgan Chase & Co. reiterated a buy rating on shares of Incyte Corp. in a research report on Wednesday, September 28th. RBC Capital Markets reiterated an outperform rating and issued a $116.00 target price on shares of Incyte Corp. in a research report on Monday, October 10th. Barclays PLC boosted 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. Piper Jaffray Cos. set a $99.00 price objective on Incyte Corp. and gave the company a buy rating in a research report on Wednesday, September 28th. Finally, Jefferies Group restated a buy rating and set a $98.00 price objective on shares of Incyte Corp. in a research report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $105.03.
Shares of Incyte Corp. (NASDAQ:INCY) opened at 87.10 on Wednesday. The stock has a 50 day moving average price of $86.88 and a 200-day moving average price of $81.58. The company has a market capitalization of $16.37 billion, a price-to-earnings ratio of 236.68 and a beta of 0.53. Incyte Corp. has a 12 month low of $55.00 and a 12 month high of $124.98.
Incyte Corp. (NASDAQ:INCY) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.20. The company had revenue of $208 million for 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 period in the previous year, the business earned $0.05 earnings per share. Analysts expect that Incyte Corp. will post $0.19 earnings per share for the current fiscal year.
In other Incyte Corp. news, EVP Reid M. Huber sold 10,000 shares of the stock in a transaction 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 legal filing with the SEC, which is accessible through the SEC website. Also, EVP Paula J. Swain sold 60,000 shares of the stock in a transaction 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. Company insiders own 13.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Pictet Asset Management Ltd. raised its stake in shares of Incyte Corp. by 241.5% in the second quarter. Pictet Asset Management Ltd. now owns 760,513 shares of the biopharmaceutical company’s stock valued at $64,195,000 after buying an additional 537,800 shares in the last quarter. Capital International Investors raised its stake in shares of Incyte Corp. by 9.2% in the second quarter. Capital International Investors now owns 5,918,033 shares of the biopharmaceutical company’s stock valued at $473,324,000 after buying an additional 499,536 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Incyte Corp. by 224.0% in the second quarter. Marshall Wace LLP now owns 637,663 shares of the biopharmaceutical company’s stock valued at $51,000,000 after buying an additional 440,877 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Incyte Corp. during the second quarter valued at approximately $33,288,000. Finally, Eaton Vance Management raised its stake in shares of Incyte Corp. by 246.2% in the second quarter. Eaton Vance Management now owns 511,787 shares of the biopharmaceutical company’s stock valued at $40,933,000 after buying an additional 363,939 shares in the last quarter. 92.38% of the stock is currently owned by institutional investors and hedge funds.
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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