Several other research firms have also weighed in on INCY. Piper Jaffray Cos. set a $102.00 target price on Incyte Corp. and gave the company a buy rating in a report on Tuesday, August 16th. Zacks Investment Research raised Incyte Corp. from a hold rating to a buy rating and set a $94.00 target price on the stock in a report on Tuesday, July 19th. Jefferies Group reissued a buy rating and issued a $98.00 target price on shares of Incyte Corp. in a report on Wednesday, August 10th. Raymond James Financial Inc. raised Incyte Corp. from a market perform rating to an outperform rating and set a $115.00 target price on the stock in a report on Thursday, September 29th. Finally, Leerink Swann upped their target price on Incyte Corp. from $85.00 to $95.00 and gave the company an outperform rating in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-one have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $105.11.
Shares of Incyte Corp. (NASDAQ:INCY) opened at 95.54 on Wednesday. The stock has a market capitalization of $17.96 billion, a price-to-earnings ratio of 259.62 and a beta of 0.53. Incyte Corp. has a one year low of $55.00 and a one year high of $124.98. The company has a 50-day moving average of $83.35 and a 200 day moving average of $80.25.
Incyte Corp. (NASDAQ:INCY) last posted its 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. The company had revenue of $208 million for the quarter, compared to analyst estimates of $236.91 million. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. Incyte Corp.’s revenue was up 51.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.05 earnings per share. Equities research analysts forecast that Incyte Corp. will post $0.20 earnings per share for the current fiscal year.
In other news, EVP Paula J. Swain sold 20,000 shares of the firm’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $90.00, for a total value of $1,800,000.00. Following the transaction, the executive vice president now directly owns 49,248 shares in the company, valued at approximately $4,432,320. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Paula J. Swain sold 60,000 shares of the firm’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 transaction, the executive vice president now owns 89,248 shares in the company, valued at $8,032,320. The disclosure for this sale can be found here. 13.70% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of INCY. Fuller & Thaler Asset Management Inc. bought a new stake in Incyte Corp. during the second quarter worth about $104,000. Acrospire Investment Management LLC raised 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 period. Walleye Trading LLC bought a new stake in Incyte Corp. during the second quarter worth about $120,000. Seven Eight Capital LLC bought a new stake in Incyte Corp. during the first quarter worth about $113,000. Finally, Fifth Third Bancorp raised 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 period. Institutional investors and hedge funds 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).
Receive News & Ratings for Incyte Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corp. and related companies with MarketBeat.com's FREE daily email newsletter.