Incyte Corp. (INCY) PT Set at $113.00 by RBC Capital Markets
Incyte Corp. (NASDAQ:INCY) has been given a $113.00 target price by stock analysts at RBC Capital Markets in a note issued to investors on Wednesday. The firm currently has a a “buy” rating on the biopharmaceutical company’s stock. RBC Capital Markets’ target price would indicate a potential upside of 25.60% from the stock’s current price.
INCY has been the subject of a number of other research reports. Barclays PLC lifted their target price on Incyte Corp. from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 10th. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $102.00 target price (up previously from $76.00) on shares of Incyte Corp. in a report on Monday, August 1st. SunTrust Banks Inc. began coverage on Incyte Corp. in a report on Friday, August 5th. They set a “buy” rating and a $105.00 target price for the company. JMP Securities reaffirmed an “outperform” rating and set a $100.00 target price on shares of Incyte Corp. in a report on Wednesday, June 15th. Finally, Cowen and Company reaffirmed an “outperform” rating on shares of Incyte Corp. in a report on Wednesday. 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 company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $105.64.
Shares of Incyte Corp. (NASDAQ:INCY) traded up 0.074% during midday trading on Wednesday, reaching $90.037. 1,129,606 shares of the company’s stock were exchanged. The company’s 50-day moving average is $86.48 and its 200-day moving average is $81.39. Incyte Corp. has a one year low of $55.00 and a one year high of $124.98. The stock has a market cap of $16.93 billion, a P/E ratio of 244.666 and a beta of 0.54.
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Incyte Corp. (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.20. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. The business had revenue of $208 million for the quarter, compared to analyst estimates of $236.91 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The company’s revenue was up 51.1% on a year-over-year basis. Equities analysts expect that Incyte Corp. will post $0.19 earnings per share for the current fiscal year.
In other Incyte Corp. news, EVP Reid M. Huber sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $87.96, for a total value of $879,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paula J. Swain sold 60,000 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $90.00, for a total value of $5,400,000.00. Following the completion of the sale, 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 company insiders.
A number of hedge funds have recently modified their holdings of the stock. Pictet Asset Management Ltd. raised its position in shares of Incyte Corp. by 241.5% in the second quarter. Pictet Asset Management Ltd. now owns 760,513 shares of the biopharmaceutical company’s stock valued at $64,195,000 after buying an additional 537,800 shares during the period. Capital International Investors raised its position in shares of Incyte Corp. by 9.2% in the second quarter. Capital International Investors now owns 5,918,033 shares of the biopharmaceutical company’s stock valued at $473,324,000 after buying an additional 499,536 shares during the period. Marshall Wace LLP raised its position in shares of Incyte Corp. by 224.0% in the second quarter. Marshall Wace LLP now owns 637,663 shares of the biopharmaceutical company’s stock valued at $51,000,000 after buying an additional 440,877 shares during the period. Capital Fund Management S.A. acquired a new position in shares of Incyte Corp. during the second quarter valued at approximately $33,288,000. Finally, Eaton Vance Management raised its position in shares of Incyte Corp. by 246.2% in the second quarter. Eaton Vance Management now owns 511,787 shares of the biopharmaceutical company’s stock valued at $40,933,000 after buying an additional 363,939 shares during the period. 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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