Incyte Corporation (INCY) PT Raised to $166.00
Incyte Corporation (NASDAQ:INCY) had its price target boosted by research analysts at BMO Capital Markets from $162.00 to $166.00 in a research note issued on Tuesday. BMO Capital Markets’ target price would indicate a potential upside of 46.58% from the company’s current price.
Several other analysts have also recently commented on INCY. Oppenheimer Holdings, Inc. reissued a “hold” rating and issued a $135.00 price target on shares of Incyte Corporation in a report on Thursday, August 31st. J P Morgan Chase & Co reissued a “buy” rating and issued a $149.00 price target on shares of Incyte Corporation in a report on Thursday, August 31st. Jefferies Group LLC reissued a “buy” rating and issued a $148.00 price target on shares of Incyte Corporation in a report on Thursday, July 27th. Credit Suisse Group set a $152.00 price target on Incyte Corporation and gave the company a “buy” rating in a report on Sunday, July 16th. Finally, Raymond James Financial, Inc. raised Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 price target for the company in a report on Monday, September 11th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $144.98.
Incyte Corporation (INCY) traded down 0.87% during mid-day trading on Tuesday, hitting $113.25. The stock had a trading volume of 2,170,902 shares. The stock has a 50-day moving average price of $115.21 and a 200 day moving average price of $124.22. The firm’s market cap is $23.30 billion. Incyte Corporation has a 12-month low of $83.01 and a 12-month high of $153.15.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The company had revenue of $381.50 million during the quarter, compared to analysts’ expectations of $360.34 million. During the same period last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 41.6% on a year-over-year basis. Equities analysts anticipate that Incyte Corporation will post ($0.82) EPS for the current fiscal year.
In other Incyte Corporation news, President Herve Hoppenot sold 70,502 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $119.45, for a total transaction of $8,421,463.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 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 disclosure for this purchase can be found here. Insiders have sold 101,147 shares of company stock valued at $12,615,101 in the last three months. 17.70% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. D. Scott Neal Inc. purchased a new position in Incyte Corporation during the second quarter worth $103,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Incyte Corporation in the second quarter valued at $104,000. Acrospire Investment Management LLC grew its position in shares of Incyte Corporation by 18.2% in the second quarter. Acrospire Investment Management LLC now owns 1,300 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 200 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Incyte Corporation in the first quarter valued at $105,000. Finally, Cornerstone Advisors Inc. grew its position in shares of Incyte Corporation by 19.6% in the second quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock valued at $111,000 after purchasing an additional 145 shares during the period. 88.85% of the stock is owned by 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).
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