Incyte Corporation (NASDAQ:INCY)‘s stock had its “buy” rating restated by analysts at J P Morgan Chase & Co in a report issued on Wednesday.

A number of other analysts have also recently commented on INCY. BidaskClub upgraded shares of Incyte Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Gabelli reiterated a “buy” rating and issued a $174.00 target price on shares of Incyte Corporation in a research note on Wednesday, June 28th. Cowen and Company reiterated an “outperform” rating and issued a $130.00 target price on shares of Incyte Corporation in a research note on Monday, July 3rd. Barclays PLC lifted their target price on shares of Incyte Corporation from $135.00 to $185.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 4th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $165.00 target price on shares of Incyte Corporation in a research note on Tuesday, July 4th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $144.84.

Incyte Corporation (INCY) traded up 0.83% on Wednesday, hitting $115.50. 1,068,763 shares of the stock traded hands. The firm has a 50-day moving average price of $116.69 and a 200-day moving average price of $124.81. The company’s market capitalization is $23.76 billion. Incyte Corporation has a 12 month low of $83.01 and a 12 month high of $153.15.

Incyte Corporation (NASDAQ:INCY) last released its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $326.40 million during the quarter, compared to analyst estimates of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter last year, the business earned $0.18 earnings per share. Analysts forecast that Incyte Corporation will post ($0.81) earnings per share for the current year.

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In other news, EVP Paula J. Swain sold 20,000 shares of Incyte Corporation stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $140.00, for a total transaction of $2,800,000.00. Following the completion of the transaction, the executive vice president now directly owns 55,067 shares of the company’s stock, valued at approximately $7,709,380. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 714 shares of Incyte Corporation stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $124.25, for a total transaction of $88,714.50. Following the transaction, the executive vice president now directly owns 15,496 shares of the company’s stock, valued at $1,925,378. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,967 shares of company stock valued at $12,857,016. Insiders own 17.70% of the company’s stock.

Several large investors have recently bought and sold shares of INCY. Thrivent Financial For Lutherans purchased a new position in shares of Incyte Corporation during the 1st quarter valued at approximately $865,000. Dimensional Fund Advisors LP increased its holdings in shares of Incyte Corporation by 18.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 464,549 shares of the biopharmaceutical company’s stock valued at $62,105,000 after purchasing an additional 71,111 shares in the last quarter. United Capital Financial Advisers LLC purchased a new position in shares of Incyte Corporation during the 1st quarter valued at approximately $369,000. Oppenheimer & Co. Inc. purchased a new position in shares of Incyte Corporation during the 1st quarter valued at approximately $436,000. Finally, Highbridge Capital Management LLC increased its holdings in shares of Incyte Corporation by 22.5% during the 1st quarter. Highbridge Capital Management LLC now owns 3,570 shares of the biopharmaceutical company’s stock valued at $478,000 after purchasing an additional 655 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Incyte Corporation Company Profile

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)

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