INCY has been the topic of several other reports. Zacks Investment Research lowered Incyte Corp. from a buy rating to a hold rating in a research report on Tuesday, August 16th. RBC Capital Markets restated an outperform rating and set a $116.00 price target on shares of Incyte Corp. in a research report on Wednesday, September 28th. Argus lifted their price target on Incyte Corp. from $92.00 to $98.00 and gave the company a buy rating in a research report on Monday, September 26th. SunTrust Banks Inc. started 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, JMP Securities lifted their price target on Incyte Corp. from $100.00 to $110.00 and gave the company a market outperform rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have given a buy rating to the company. Incyte Corp. currently has a consensus rating of Buy and an average price target of $105.79.
Shares of Incyte Corp. (NASDAQ:INCY) traded down 0.11% during midday trading on Wednesday, hitting $89.87. The stock had a trading volume of 500,442 shares. The stock has a market cap of $16.90 billion, a PE ratio of 244.21 and a beta of 0.54. The stock’s 50-day moving average is $86.48 and its 200-day moving average is $81.39. Incyte Corp. has a 12 month low of $55.00 and a 12 month high of $124.98.
Incyte Corp. (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ 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 had revenue of $208 million for the quarter, compared to analyst estimates of $236.91 million. During the same period in the previous year, the company posted $0.05 earnings per share. The firm’s revenue was up 51.1% on a year-over-year basis. Equities analysts anticipate that Incyte Corp. will post $0.19 EPS for the current year.
In other Incyte Corp. news, EVP Barry P. Flannelly sold 24,204 shares of the company’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $97.00, for a total value of $2,347,788.00. Following the completion of the sale, the executive vice president now owns 13,595 shares in the company, valued at $1,318,715. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Paula J. Swain sold 60,000 shares of the company’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 disclosure for this sale can be found here. 13.70% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of INCY. Pictet Asset Management Ltd. raised its position in Incyte Corp. by 241.5% in the second quarter. Pictet Asset Management Ltd. now owns 760,513 shares of the biopharmaceutical company’s stock worth $64,195,000 after buying an additional 537,800 shares during the period. Capital International Investors raised its position in Incyte Corp. by 9.2% in the second quarter. Capital International Investors now owns 5,918,033 shares of the biopharmaceutical company’s stock worth $473,324,000 after buying an additional 499,536 shares during the period. Marshall Wace LLP raised its position in Incyte Corp. by 224.0% in the second quarter. Marshall Wace LLP now owns 637,663 shares of the biopharmaceutical company’s stock worth $51,000,000 after buying an additional 440,877 shares during the period. Capital Fund Management S.A. acquired a new position in Incyte Corp. during the second quarter worth $33,288,000. Finally, Eaton Vance Management raised its position in Incyte Corp. by 246.2% in the second quarter. Eaton Vance Management now owns 511,787 shares of the biopharmaceutical company’s stock worth $40,933,000 after buying an additional 363,939 shares during the period. Institutional investors and hedge funds 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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