Incyte Corp. PT Raised to $79.00 at Canaccord Genuity (INCY)
Research analysts at Canaccord Genuity increased their price target on shares of Incyte Corp. (NASDAQ:INCY) from $65.00 to $79.00 in a report released on Thursday, AnalystRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price suggests a potential upside of 26.56% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Brean Capital raised their price target on shares of Incyte Corp. from $52.00 to $66.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Jefferies Group set a $75.00 price target on shares of Incyte Corp. in a research note to investors on Friday, January 10th. Finally, analysts at Barclays upgraded shares of Incyte Corp. from an “equal weight” rating to an “overweight” rating in a research note to investors on Friday, January 10th. They now have a $64.00 price target on the stock, up previously from $36.00. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $53.56.
Shares of Incyte Corp. (NASDAQ:INCY) traded up 1.01% during mid-day trading on Thursday, hitting $63.05. The stock had a trading volume of 394,163 shares. Incyte Corp. has a 52-week low of $17.44 and a 52-week high of $63.60. The stock has a 50-day moving average of $50.89 and a 200-day moving average of $37.94. The company’s market cap is $10.159 billion.
Incyte Corp. (NASDAQ:INCY) last issued its quarterly earnings data 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 previous year, the company posted ($0.17) earnings per share. The company’s revenue for the quarter 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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