Incyte Corp. (INCY) Rating Reiterated by RBC Capital Markets
Incyte Corp. (NASDAQ:INCY)‘s stock had its “outperform” rating reissued by RBC Capital Markets in a report released on Monday. They currently have a $116.00 target price on the biopharmaceutical company’s stock. RBC Capital Markets’ target price indicates a potential upside of 18.57% from the stock’s current price.
Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Incyte Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 16th. Argus raised their price target on shares of Incyte Corp. from $92.00 to $98.00 and gave the company a “buy” rating in a report on Monday, September 26th. SunTrust Banks Inc. initiated coverage on shares of Incyte Corp. in a report on Friday, August 5th. They set a “buy” rating and a $105.00 price target on the stock. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $102.00 price target (up previously from $76.00) on shares of Incyte Corp. in a report on Monday, August 1st. Finally, JMP Securities reaffirmed an “outperform” rating and set a $100.00 price target on shares of Incyte Corp. in a report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $104.93.
Shares of Incyte Corp. (NASDAQ:INCY) traded down 0.30% on Monday, hitting $97.54. 377,620 shares of the stock were exchanged. Incyte Corp. has a 12 month low of $55.00 and a 12 month high of $124.98. The company has a market cap of $18.34 billion, a PE ratio of 265.05 and a beta of 0.53. The company has a 50-day moving average price of $85.39 and a 200 day moving average price of $80.88.
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Incyte Corp. (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.20. Incyte Corp. had a net margin of 7.87% and a return on equity of 37.76%. The company earned $208 million during the quarter, compared to analyst estimates of $236.91 million. During the same period in the prior year, the business posted $0.05 EPS. The firm’s revenue was up 51.1% compared to the same quarter last year. Equities analysts forecast that Incyte Corp. will post $0.19 EPS for the current fiscal year.
In other Incyte Corp. news, EVP Reid M. Huber sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $87.96, for a total value of $879,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 owns 89,248 shares of the company’s stock, valued at $8,032,320. The disclosure for this sale can be found here. 13.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Incyte Corp. during the second quarter worth approximately $104,000. Acrospire Investment Management LLC increased 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 in the last quarter. Seven Eight Capital LLC purchased a new position in shares of Incyte Corp. during the first quarter worth approximately $113,000. Walleye Trading LLC purchased a new position in shares of Incyte Corp. during the second quarter worth approximately $120,000. Finally, Fifth Third Bancorp increased 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 in the last quarter. Institutional investors and hedge funds 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).
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