Incyte Corp. (NASDAQ:INCY) shot up 3.3% on Wednesday . The company traded as high as $83.45 and last traded at $82.33, with a volume of 460,361 shares changing hands. The stock had previously closed at $79.71.

Several equities research analysts recently commented on the stock. BMO Capital Markets reiterated a “buy” rating and set a $97.00 target price (up from $91.00) on shares of Incyte Corp. in a research report on Tuesday, June 7th. Brean Capital reiterated a “buy” rating on shares of Incyte Corp. in a research report on Monday, June 6th. Cowen and Company reiterated a “buy” rating on shares of Incyte Corp. in a research report on Wednesday, April 6th. Leerink Swann reiterated a “buy” rating on shares of Incyte Corp. in a research report on Wednesday, April 6th. Finally, Vetr downgraded shares of Incyte Corp. from a “hold” rating to a “sell” rating and set a $76.50 target price on the stock. in a research report on Monday, May 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Incyte Corp. has a consensus rating of “Buy” and a consensus target price of $106.97.

The stock has a market cap of $15.47 billion and a PE ratio of 332.58. The stock has a 50-day moving average price of $80.34 and a 200-day moving average price of $78.18.

Incyte Corp. (NASDAQ:INCY) last released its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by $0.17. The firm earned $263 million during the quarter, compared to analysts’ expectations of $266.38 million. The business’s revenue for the quarter was up 65.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) earnings per share. On average, analysts anticipate that Incyte Corp. will post $0.04 earnings per share for the current fiscal year.

A number of hedge funds have made changes to their positions in INCY. Swiss National Bank raised its stake in shares of Incyte Corp. by 2.6% in the fourth quarter. Swiss National Bank now owns 295,000 shares of the biopharmaceutical company’s stock worth $31,993,000 after buying an additional 7,400 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Incyte Corp. by 1.0% in the fourth quarter. Rhumbline Advisers now owns 155,738 shares of the biopharmaceutical company’s stock worth $16,890,000 after buying an additional 1,514 shares during the last quarter. Oxford Asset Management acquired a new stake in shares of Incyte Corp. during the fourth quarter worth approximately $7,236,000. TD Asset Management Inc. raised its stake in shares of Incyte Corp. by 5.2% in the fourth quarter. TD Asset Management Inc. now owns 293,413 shares of the biopharmaceutical company’s stock worth $31,821,000 after buying an additional 14,418 shares during the last quarter. Finally, Chartwell Investment Partners LLC raised its stake in shares of Incyte Corp. by 9.1% in the fourth quarter. Chartwell Investment Partners LLC now owns 70,295 shares of the biopharmaceutical company’s stock worth $7,623,000 after buying an additional 5,875 shares during the last quarter.

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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