Incyte Corp. (INCY) PT Raised to $113.00
Incyte Corp. (NASDAQ:INCY) had its price objective raised by investment analysts at Royal Bank Of Canada from $106.00 to $113.00 in a research note issued to investors on Wednesday. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 22.68% from the company’s current price.
A number of other research analysts have also commented on the company. Zacks Investment Research raised Incyte Corp. from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Tuesday, July 19th. SunTrust Banks Inc. initiated coverage on Incyte Corp. in a report on Friday, August 5th. They issued a “buy” rating and a $105.00 price objective on the stock. Piper Jaffray Cos. set a $102.00 price objective on Incyte Corp. and gave the company a “buy” rating in a report on Tuesday, August 16th. Raymond James Financial Inc. raised Incyte Corp. from a “market perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a report on Thursday, September 29th. Finally, BMO Capital Markets upped their price objective on Incyte Corp. from $100.00 to $121.00 and gave the company an “outperform” rating in a report on Friday, October 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $105.79.
Incyte Corp. (NASDAQ:INCY) opened at 92.11 on Wednesday. Incyte Corp. has a 12-month low of $55.00 and a 12-month high of $124.98. The company has a 50 day moving average price of $86.25 and a 200-day moving average price of $81.33. The company has a market capitalization of $17.32 billion, a PE ratio of 250.30 and a beta of 0.54.
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Incyte Corp. (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating 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 had revenue of $208 million for the quarter, compared to analyst estimates of $236.91 million. During the same period in the prior year, the firm posted $0.05 EPS. The company’s revenue for the quarter was up 51.1% on a year-over-year basis. On average, analysts anticipate that Incyte Corp. will post $0.19 EPS for the current year.
In related news, EVP Reid M. Huber sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $87.96, for a total transaction of $879,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Barry P. Flannelly sold 24,204 shares of the firm’s stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $97.00, for a total value of $2,347,788.00. Following the sale, the executive vice president now directly owns 13,595 shares of the company’s stock, valued at approximately $1,318,715. The disclosure for this sale can be found here. 13.70% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. boosted its stake in Incyte Corp. by 10.7% in the first quarter. UBS Asset Management Americas Inc. now owns 1,326,579 shares of the biopharmaceutical company’s stock valued at $96,138,000 after buying an additional 127,775 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in Incyte Corp. by 41.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 141,100 shares of the biopharmaceutical company’s stock valued at $10,226,000 after buying an additional 41,100 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Incyte Corp. during the first quarter valued at approximately $144,000. State Farm Mutual Automobile Insurance Co. boosted its stake in Incyte Corp. by 14.0% in the first quarter. State Farm Mutual Automobile Insurance Co. now owns 316,018 shares of the biopharmaceutical company’s stock valued at $22,902,000 after buying an additional 38,818 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in Incyte Corp. by 58.1% in the first quarter. Rafferty Asset Management LLC now owns 11,969 shares of the biopharmaceutical company’s stock valued at $867,000 after buying an additional 4,399 shares in the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.
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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