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Investment analysts at UBS AG hoisted their target price on shares of Incyte Corp. (NASDAQ:INCY) from $47.00 to $74.00 in a note issued to investors on Monday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. UBS AG’s price objective would suggest a potential upside of 42.34% from the stock’s previous close.

Shares of Incyte Corp. (NASDAQ:INCY) traded up 0.67% during mid-day trading on Monday, hitting $52.336. 553,716 shares of the company’s stock traded hands. Incyte Corp. has a one year low of $16.72 and a one 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 $8.432 billion.

Incyte Corp. (NASDAQ:INCY) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.14) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.17) earnings per share. Incyte Corp.’s revenue was up 40.7% compared to the same quarter last year. On average, analysts predict that Incyte Corp. will post $-0.44 earnings per share for the current fiscal year.

A number of other firms have also recently commented on INCY. Analysts at Zacks reiterated a “neutral” rating on shares of Incyte Corp. in a research note to investors on Monday. They now have a $55.00 price target on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Incyte Corp. from $55.00 to $65.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Incyte Corp. from $47.00 to $55.00 in a research note to investors on Tuesday, December 10th. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. Incyte Corp. has a consensus rating of “Buy” and a consensus price target of $47.00.

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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