Canaccord Genuity Increases Incyte Corp. Price Target to $65.00 (INCY)
Equities researchers at Canaccord Genuity increased their price target on shares of Incyte Corp. (NASDAQ:INCY) from $55.00 to $65.00 in a research report issued on Monday, StockRatingsNetwork.com reports. Canaccord Genuity’s price objective would indicate a potential upside of 25.02% from the company’s current price.
A number of other analysts have also recently weighed in on INCY. Analysts at Argus raised their price target on shares of Incyte Corp. from $45.00 to $65.00 in a research note to investors on Friday, November 29th. They now have a “buy” rating on the stock. Separately, analysts at Piper Jaffray initiated coverage on shares of Incyte Corp. in a research note to investors on Tuesday, November 26th. They set an “overweight” rating and a $56.00 price target on the stock. Finally, analysts at Brean Capital raised their price target on shares of Incyte Corp. from $45.00 to $52.00 in a research note to investors on Friday, November 15th. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. Incyte Corp. currently has a consensus rating of “Buy” and an average target price of $44.14.
Incyte Corp. (NASDAQ:INCY) opened at 51.99 on Monday. Incyte Corp. has a 1-year low of $16.72 and a 1-year high of $52.47. The stock’s 50-day moving average is $48.42 and its 200-day moving average is $35.68. The company’s market cap is $8.377 billion.
Incyte Corp. (NASDAQ:INCY) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.14) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.13) by $0.01. The company had revenue of $85.10 million for the quarter, compared to the consensus estimate of $81.40 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. The company’s quarterly revenue was up 40.7% on a year-over-year basis. Analysts expect that Incyte Corp. will post $-0.44 EPS for the current fiscal year.
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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