Incyte Corp. PT Raised to $45.00 at Argus (INCY)
Investment analysts at Argus boosted their price target on shares of Incyte Corp. (NASDAQ:INCY) from $28.00 to $45.00 in a note issued to investors on Thursday, American Banking News reports. The firm currently has a “buy” rating on the stock. Argus’ target price would indicate a potential upside of 24.38% from the stock’s previous close.
Incyte Corp. (NASDAQ:INCY) opened at 36.18 on Thursday. Incyte Corp. has a 52-week low of $15.43 and a 52-week high of $38.52. The stock has a 50-day moving average of $29.81 and a 200-day moving average of $24.17. The company’s market cap is $5.538 billion.
Incyte Corp. (NASDAQ:INCY) last announced its earnings results on Thursday, August 1st. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.03. The company had revenue of $101.70 million for the quarter, compared to the consensus estimate of $114.34 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. Analysts expect that Incyte Corp. will post $-0.31 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on INCY. Analysts at Oppenheimer raised their price target on shares of Incyte Corp. (NASDAQ:INCY) from $28.00 to $43.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Guggenheim raised their price target on shares of Incyte Corp. (NASDAQ:INCY) from $31.00 to $42.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Incyte Corp. (NASDAQ:INCY) in a research note to investors on Friday, September 6th. They now have a $44.00 price target on the stock.
Two research analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Incyte Corp. presently has a consensus rating of “Buy” and a consensus price target of $34.54.
In other Incyte Corp. news, VP Laurent Chardonnet sold 44,834 shares of Incyte Corp. stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $37.31, for a total transaction of $1,672,756.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Incyte Corporation (NASDAQ:INCY) is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs to treat serious unmet medical needs.
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