Incyte Corp. (INCY) PT Raised to $110.00 at JMP Securities
Incyte Corp. (NASDAQ:INCY) had its price target upped by equities research analysts at JMP Securities from $100.00 to $110.00 in a note issued to investors on Monday. The brokerage presently has a “market outperform” rating on the biopharmaceutical company’s stock. JMP Securities’ price objective indicates a potential upside of 13.55% from the stock’s current price.
Several other research analysts have also recently commented on INCY. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Incyte Corp. in a research report on Wednesday, June 29th. Royal Bank Of Canada started coverage on Incyte Corp. in a research report on Tuesday, July 12th. They issued an “outperform” rating and a $105.00 target price for the company. Leerink Swann reaffirmed a “buy” rating on shares of Incyte Corp. in a research report on Monday, July 18th. Zacks Investment Research raised Incyte Corp. from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Tuesday, July 19th. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $102.00 target price (up from $76.00) on shares of Incyte Corp. in a research report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $105.40.
Shares of Incyte Corp. (NASDAQ:INCY) traded down 1.0350% during trading on Monday, reaching $96.8175. 685,669 shares of the company were exchanged. The stock has a 50-day moving average of $85.39 and a 200 day moving average of $80.88. Incyte Corp. has a 52-week low of $55.00 and a 52-week high of $124.98. The stock has a market capitalization of $18.20 billion, a P/E ratio of 263.0910 and a beta of 0.53.
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Incyte Corp. (NASDAQ:INCY) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.20. The firm earned $208 million during the quarter, compared to analysts’ expectations of $236.91 million. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. Incyte Corp.’s quarterly revenue was up 51.1% compared to the same quarter last year. During the same period last year, the business earned $0.05 earnings per share. On average, equities analysts anticipate that Incyte Corp. will post $0.19 earnings per share for the current fiscal year.
In other news, EVP Paula J. Swain sold 60,000 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $90.00, for a total transaction of $5,400,000.00. Following the completion of the transaction, the executive vice president now directly owns 89,248 shares in the company, valued at approximately $8,032,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paula J. Swain sold 20,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $4,432,320. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of INCY. Candriam Luxembourg S.C.A. raised its position in shares of Incyte Corp. by 23.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 338,061 shares of the biopharmaceutical company’s stock valued at $27,039,000 after buying an additional 64,709 shares in the last quarter. Calamos Advisors LLC acquired a new position in shares of Incyte Corp. during the fourth quarter valued at about $44,516,000. Natixis Asset Management raised its position in shares of Incyte Corp. by 19.0% in the third quarter. Natixis Asset Management now owns 5,084 shares of the biopharmaceutical company’s stock valued at $561,000 after buying an additional 810 shares in the last quarter. Capital Fund Management S.A. acquired a new position in shares of Incyte Corp. during the second quarter valued at about $33,288,000. Finally, Royal Bank of Canada raised its position in shares of Incyte Corp. by 119.9% in the first quarter. Royal Bank of Canada now owns 621,527 shares of the biopharmaceutical company’s stock valued at $45,042,000 after buying an additional 338,904 shares in the last quarter. Institutional investors own 92.32% of the company’s stock.
About Incyte Corp.
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).
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