RBC Capital Markets Reiterates “$113.00” Price Target for Incyte Corp. (INCY)
Incyte Corp. (NASDAQ:INCY) has been given a $113.00 price objective by analysts at RBC Capital Markets in a research note issued on Wednesday. The firm currently has a a “buy” rating on the biopharmaceutical company’s stock. RBC Capital Markets’ price target would suggest a potential upside of 25.60% from the company’s current price.
Several other equities research analysts also recently weighed in on INCY. Royal Bank Of Canada raised their price target on shares of Incyte Corp. from $106.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. reissued a “buy” rating on shares of Incyte Corp. in a research report on Wednesday, September 28th. Piper Jaffray Cos. set a $99.00 target price on shares of Incyte Corp. and gave the stock a “buy” rating in a report on Wednesday, September 28th. Barclays PLC raised their target price on shares of Incyte Corp. from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 10th. Finally, Jefferies Group restated a “buy” rating and issued a $98.00 target price on shares of Incyte Corp. in a report on Wednesday, August 10th. 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’s stock. The stock has an average rating of “Buy” and an average target price of $105.64.
Shares of Incyte Corp. (NASDAQ:INCY) traded down 0.14% during midday trading on Wednesday, reaching $89.84. 1,192,473 shares of the company’s stock were exchanged. 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 $16.89 billion, a price-to-earnings ratio of 244.13 and a beta of 0.54. The firm has a 50 day moving average of $86.48 and a 200-day moving average of $81.39.
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Incyte Corp. (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.20. The company earned $208 million during the quarter, compared to the consensus estimate of $236.91 million. Incyte Corp. had a net margin of 7.87% and a return on equity of 37.76%. The firm’s quarterly revenue was up 51.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 earnings per share. On average, equities research analysts anticipate that Incyte Corp. will post $0.19 earnings per share for the current 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 shares were sold at an average price of $90.00, for a total value of $5,400,000.00. Following the sale, 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 legal filing with the SEC, which is accessible through this link. Also, EVP Barry P. Flannelly sold 24,204 shares of the business’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $97.00, for a total transaction of $2,347,788.00. Following the completion of the sale, the executive vice president now owns 13,595 shares in the company, valued at $1,318,715. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. CT Financial Advisors LLC increased its stake in Incyte Corp. by 2.0% in the third quarter. CT Financial Advisors LLC now owns 10,036 shares of the biopharmaceutical company’s stock worth $946,000 after buying an additional 198 shares during the period. Atria Investments LLC increased its position in shares of Incyte Corp. by 32.8% in the third quarter. Atria Investments LLC now owns 3,450 shares of the biopharmaceutical company’s stock valued at $325,000 after buying an additional 852 shares during the last quarter. British Columbia Investment Management Corp increased its position in shares of Incyte Corp. by 26.7% in the third quarter. British Columbia Investment Management Corp now owns 68,750 shares of the biopharmaceutical company’s stock valued at $6,482,000 after buying an additional 14,488 shares during the last quarter. Cupps Capital Management LLC purchased a new position in shares of Incyte Corp. during the third quarter valued at approximately $358,000. Finally, Fisher Asset Management LLC increased its position in shares of Incyte Corp. by 0.7% in the third quarter. Fisher Asset Management LLC now owns 14,917 shares of the biopharmaceutical company’s stock valued at $1,407,000 after buying an additional 99 shares during the last quarter. Hedge funds and other 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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