Analysts at Royal Bank Of Canada initiated coverage on shares of Incyte Corporation (NASDAQ:INCY) in a report issued on Thursday, The Fly reports. The brokerage set a “sector perform” rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also issued reports on INCY. J P Morgan Chase & Co restated a “buy” rating and issued a $149.00 target price on shares of Incyte Corporation in a research note on Thursday, August 31st. Oppenheimer Holdings, Inc. restated a “hold” rating and issued a $135.00 target price on shares of Incyte Corporation in a research note on Thursday, August 31st. BidaskClub upgraded shares of Incyte Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research upgraded shares of Incyte Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. Finally, TheStreet upgraded shares of Incyte Corporation from a “d+” rating to a “c” rating in a research note on Wednesday, May 24th. Eight investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $143.07.

Shares of Incyte Corporation (NASDAQ INCY) traded down 3.08% during trading on Thursday, hitting $119.78. The company’s stock had a trading volume of 1,783,371 shares. Incyte Corporation has a 52 week low of $78.04 and a 52 week high of $153.15. The company’s market cap is $24.64 billion. The firm’s 50 day moving average price is $128.57 and its 200-day moving average price is $130.44.

Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The firm had revenue of $326.40 million during the quarter, compared to analyst estimates of $318.45 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s quarterly revenue was up 32.5% compared to the same quarter last year. On average, analysts predict that Incyte Corporation will post ($0.84) earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Incyte Corporation (INCY) Coverage Initiated by Analysts at Royal Bank Of Canada” was originally published by American Banking News and is owned by of American Banking News. If you are reading this article on another website, it was stolen and republished in violation of US & international trademark & copyright legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/09/14/incyte-corporation-incy-coverage-initiated-by-analysts-at-royal-bank-of-canada.html.

In other news, EVP Paula J. Swain sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $140.00, for a total value of $2,800,000.00. Following the completion of the transaction, the executive vice president now directly owns 55,067 shares in the company, valued at $7,709,380. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven H. Stein sold 9,883 shares of the stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $125.00, for a total transaction of $1,235,375.00. Following the completion of the transaction, the executive vice president now owns 18,518 shares of the company’s stock, valued at $2,314,750. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,538 shares of company stock valued at $7,118,269. 17.70% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Gs Investments Inc. bought a new position in shares of Incyte Corporation in the second quarter valued at approximately $3,777,000. Lord Abbett & CO. LLC boosted its holdings in shares of Incyte Corporation by 40.6% in the second quarter. Lord Abbett & CO. LLC now owns 457,455 shares of the biopharmaceutical company’s stock valued at $57,598,000 after acquiring an additional 132,127 shares in the last quarter. Ashford Capital Management Inc. boosted its holdings in shares of Incyte Corporation by 2.2% in the second quarter. Ashford Capital Management Inc. now owns 101,937 shares of the biopharmaceutical company’s stock valued at $12,835,000 after acquiring an additional 2,156 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Incyte Corporation by 21.3% in the second quarter. Toronto Dominion Bank now owns 57,584 shares of the biopharmaceutical company’s stock valued at $7,250,000 after acquiring an additional 10,122 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Incyte Corporation in the second quarter valued at approximately $403,000. Institutional investors and hedge funds own 91.06% of the company’s stock.

About Incyte Corporation

Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).

The Fly

Analyst Recommendations for Incyte Corporation (NASDAQ:INCY)

Receive News & Ratings for Incyte Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corporation and related companies with MarketBeat.com's FREE daily email newsletter.