Incyte Corporation (NASDAQ:INCY) has earned an average rating of “Buy” from the twenty-seven analysts that are currently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $144.93.

Several analysts have recently weighed in on INCY shares. Oppenheimer Holdings, Inc. restated a “hold” rating and set a $135.00 price objective on shares of Incyte Corporation in a research report on Thursday, August 31st. BMO Capital Markets restated a “buy” rating and set a $172.00 price objective on shares of Incyte Corporation in a research report on Friday, July 21st. Barclays PLC restated an “overweight” rating and set a $165.00 price objective (down previously from $180.00) on shares of Incyte Corporation in a research report on Wednesday, August 2nd. Royal Bank Of Canada started coverage on shares of Incyte Corporation in a research report on Thursday, September 14th. They set a “sector perform” rating and a $136.00 price objective for the company. Finally, Raymond James Financial, Inc. upgraded shares of Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 price objective for the company in a research report on Monday, September 11th.

In other news, Director Bros. Advisors Lp Baker acquired 100,000 shares of the company’s stock in a transaction on Friday, September 8th. The shares were bought at an average cost of $132.00 per share, with a total value of $13,200,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Steven H. Stein sold 6,485 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $131.09, for a total transaction of $850,118.65. Following the completion of the transaction, the executive vice president now directly owns 19,356 shares in the company, valued at $2,537,378.04. The disclosure for this sale can be found here. Insiders sold a total of 109,452 shares of company stock worth $13,707,134 over the last three months. 17.70% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new position in Incyte Corporation in the 1st quarter valued at $105,000. D. Scott Neal Inc. acquired a new position in Incyte Corporation in the 2nd quarter valued at $103,000. Cornerstone Advisors Inc. increased its stake in Incyte Corporation by 19.6% in the 2nd quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 145 shares during the period. FNY Partners Fund LP increased its stake in Incyte Corporation by 4,825.0% in the 1st quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 965 shares during the period. Finally, Exane Asset Management acquired a new position in Incyte Corporation in the 2nd quarter valued at $126,000. 88.91% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This story was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2017/10/11/incyte-corporation-incy-receives-consensus-recommendation-of-buy-from-analysts.html.

Shares of Incyte Corporation (INCY) traded down 2.3303% on Wednesday, reaching $112.0955. 913,837 shares of the company’s stock were exchanged. The firm’s market capitalization is $23.61 billion. Incyte Corporation has a one year low of $83.01 and a one year high of $153.15. The firm has a 50 day moving average of $121.00 and a 200 day moving average of $126.64.

Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (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 analysts’ expectations of $318.45 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The firm’s revenue was up 32.5% compared to the same quarter last year. On average, equities research analysts predict that Incyte Corporation will post ($0.82) EPS for the current year.

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).

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.