Incyte Corp. (NASDAQ:INCY) had its price target upped by equities research analysts at Leerink Swann from $95.00 to $98.00 in a note issued to investors on Monday, StockTargetPrices.com reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Leerink Swann’s price objective indicates a potential upside of 3.93% from the company’s current price.
INCY has been the topic of a number of other reports. Zacks Investment Research downgraded Incyte Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 16th. RBC Capital Markets reaffirmed an “outperform” rating and set a $116.00 price target on shares of Incyte Corp. in a research report on Wednesday, September 28th. Argus upped their price target on Incyte Corp. from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, September 26th. SunTrust Banks Inc. initiated coverage on Incyte Corp. in a research report on Friday, August 5th. They set a “buy” rating and a $105.00 price target on the stock. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating and set a $102.00 price target (up from $76.00) on shares of Incyte Corp. in a research report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Incyte Corp. currently has a consensus rating of “Buy” and an average target price of $105.11.
Incyte Corp. (NASDAQ:INCY) traded down 0.28% during trading on Monday, reaching $94.03. The company had a trading volume of 348,179 shares. The firm has a market capitalization of $17.68 billion, a P/E ratio of 255.52 and a beta of 0.53. The stock has a 50 day moving average price of $82.94 and a 200 day moving average price of $79.80. Incyte Corp. has a 52 week low of $55.00 and a 52 week high of $128.69.
Incyte Corp. (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.20. The business 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 business’s quarterly revenue was up 51.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 earnings per share. Analysts predict that Incyte Corp. will post $0.20 earnings per share for the current year.
In other Incyte Corp. news, EVP Paula J. Swain sold 20,000 shares of the 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 owns 49,248 shares in the company, valued at approximately $4,432,320. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paula J. Swain sold 60,000 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $90.00, for a total transaction 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 disclosure for this sale can be found here. 13.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. acquired a new stake in Incyte Corp. during the second quarter worth approximately $104,000. Acrospire Investment Management LLC increased its stake in 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 during the last quarter. Walleye Trading LLC acquired a new stake in Incyte Corp. during the second quarter worth approximately $120,000. Seven Eight Capital LLC acquired a new stake in Incyte Corp. during the first quarter worth approximately $113,000. Finally, Fifth Third Bancorp increased its stake in 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 during the last quarter. Institutional investors own 92.32% 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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