Incyte Corp. (NASDAQ:INCY) had its price objective boosted by JMP Securities from $100.00 to $110.00 in a research note released on Monday morning. JMP Securities currently has a market outperform rating on the biopharmaceutical company’s stock.
A number of other research analysts also recently issued reports on INCY. Goldman Sachs Group Inc. reaffirmed a buy rating on shares of Incyte Corp. in a research report on Wednesday, June 29th. Royal Bank Of Canada initiated coverage on shares of Incyte Corp. in a research report on Tuesday, July 12th. They issued an outperform rating and a $105.00 price objective on the stock. Leerink Swann reaffirmed a buy rating on shares of Incyte Corp. in a research report on Monday, July 18th. Zacks Investment Research raised shares of Incyte Corp. from a hold rating to a buy rating and set a $94.00 price objective on the stock in a research report on Tuesday, July 19th. Finally, Piper Jaffray Cos. reaffirmed a buy rating and issued a $102.00 price objective (up previously from $76.00) on shares of Incyte Corp. in a research report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $105.79.
Incyte Corp. (NASDAQ:INCY) opened at 89.97 on Monday. The firm has a 50-day moving average of $86.48 and a 200 day moving average of $81.39. The company has a market capitalization of $16.91 billion, a P/E ratio of 244.48 and a beta of 0.54. Incyte Corp. has a 52-week low of $55.00 and a 52-week high of $124.98.
Incyte Corp. (NASDAQ:INCY) last issued its quarterly earnings data 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. Incyte Corp. had a net margin of 7.87% and a return on equity of 37.76%. The firm had revenue of $208 million for the quarter, compared to the consensus estimate of $236.91 million. During the same quarter in the previous year, the firm earned $0.05 EPS. The company’s quarterly revenue was up 51.1% compared to the same quarter last year. Equities analysts predict that Incyte Corp. will post $0.19 earnings per share for the current fiscal year.
In other Incyte Corp. news, EVP Paula J. Swain sold 20,000 shares of the company’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $90.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the executive vice president now directly owns 49,248 shares in the company, valued at $4,432,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paula J. Swain sold 60,000 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $90.00, for a total transaction of $5,400,000.00. Following the transaction, the executive vice president now owns 89,248 shares of the company’s stock, valued at $8,032,320. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. bought a new position in Incyte Corp. during the second quarter worth $104,000. Acrospire Investment Management LLC boosted its stake 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 during the period. Seven Eight Capital LLC acquired a new stake in shares of Incyte Corp. during the first quarter worth approximately $113,000. Walleye Trading LLC acquired a new stake in shares of Incyte Corp. during the second quarter worth approximately $120,000. Finally, Fifth Third Bancorp boosted its stake 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 during the period. Institutional investors 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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