Incyte Corp. (INCY) Price Target Increased to $121.00 by Analysts at BMO Capital Markets
Incyte Corp. (NASDAQ:INCY) had its target price boosted by equities research analysts at BMO Capital Markets to $121.00 in a research note issued on Friday. BMO Capital Markets’ price target would indicate a potential upside of 27.66% from the company’s current price.
A number of other equities analysts also recently weighed in on the company. Zacks Investment Research raised Incyte Corp. from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a research report on Tuesday. Leerink Swann increased their price objective on Incyte Corp. from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Monday. Piper Jaffray Cos. set a $99.00 price objective on Incyte Corp. and gave the company a “buy” rating in a report on Wednesday, September 28th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Incyte Corp. in a report on Wednesday, September 28th. Finally, Raymond James Financial Inc. raised Incyte Corp. from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a report on Thursday, September 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have issued a buy rating to the company. Incyte Corp. currently has a consensus rating of “Buy” and an average price target of $104.93.
Incyte Corp. (NASDAQ:INCY) traded up 1.57% during midday trading on Friday, hitting $96.27. 1,587,669 shares of the stock traded hands. The firm has a market cap of $18.10 billion, a P/E ratio of 261.60 and a beta of 0.54. The company has a 50-day moving average price of $84.77 and a 200-day moving average price of $80.67. Incyte Corp. has a 1-year low of $55.00 and a 1-year high of $124.98.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/07/incyte-corp-incy-price-target-increased-to-121-00-by-analysts-at-bmo-capital-markets.html
Incyte Corp. (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.20. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. The firm earned $208 million during the quarter, compared to the consensus estimate of $236.91 million. During the same quarter in the prior year, the firm posted $0.05 EPS. The business’s revenue was up 51.1% on a year-over-year basis. Analysts predict that Incyte Corp. will post $0.19 EPS for the current year.
In related news, EVP Paula J. Swain sold 20,000 shares of the firm’s stock in a transaction on 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 owns 49,248 shares in the company, valued at $4,432,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paula J. Swain sold 60,000 shares of the firm’s stock in a transaction on 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 approximately $8,032,320. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of INCY. Fuller & Thaler Asset Management Inc. bought a new position in shares of Incyte Corp. during the second quarter worth approximately $104,000. Acrospire Investment Management LLC boosted its position in shares of 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 last quarter. Walleye Trading LLC bought a new position in shares of Incyte Corp. during the second quarter worth approximately $120,000. Seven Eight Capital LLC bought a new position in shares of Incyte Corp. during the first quarter worth approximately $113,000. Finally, Fifth Third Bancorp boosted its position in shares of 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 last quarter. Institutional investors 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.