Incyte Corp. (NASDAQ:INCY) shot up 2.1% during mid-day trading on Friday . The stock traded as high as $84.69 and last traded at $83.84, with a volume of 540,691 shares traded. The stock had previously closed at $82.14.

Several brokerages have issued reports on INCY. Cowen and Company restated a “buy” rating on shares of Incyte Corp. in a report on Sunday, April 17th. Vetr downgraded Incyte Corp. from a “hold” rating to a “sell” rating and set a $76.50 price target for the company. in a report on Monday, May 23rd. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Incyte Corp. in a report on Monday, May 2nd. Leerink Swann restated a “buy” rating on shares of Incyte Corp. in a report on Wednesday, April 6th. Finally, Morgan Stanley reiterated a “buy” rating on shares of Incyte Corp. in a report on Thursday, May 19th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $106.87.

The firm has a 50-day moving average price of $81.36 and a 200 day moving average price of $77.53. The stock has a market cap of $15.73 billion and a P/E ratio of 338.02.

Incyte Corp. (NASDAQ:INCY) last issued its earnings results on Monday, May 9th. The biopharmaceutical company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.17. During the same period last year, the firm earned ($0.11) earnings per share. The company earned $263 million during the quarter, compared to analyst estimates of $266.38 million. Incyte Corp.’s quarterly revenue was up 65.4% compared to the same quarter last year. Equities research analysts expect that Incyte Corp. will post $0.05 EPS for the current year.

Other hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Incyte Corp. by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 11,685,539 shares of the biopharmaceutical company’s stock worth $1,267,298,000 after buying an additional 606,470 shares during the last quarter. GAM Holding AG raised its stake in shares of Incyte Corp. by 372.0% in the fourth quarter. GAM Holding AG now owns 44,513 shares of the biopharmaceutical company’s stock worth $4,827,000 after buying an additional 35,083 shares in the last quarter. Eaton Vance Management raised its stake in shares of Incyte Corp. by 28.8% in the fourth quarter. Eaton Vance Management now owns 155,012 shares of the biopharmaceutical company’s stock worth $16,811,000 after buying an additional 34,685 shares in the last quarter. Shell Asset Management Co. bought a new stake in shares of Incyte Corp. during the fourth quarter worth approximately $2,153,000. Finally, Trexquant Investment LP bought a new stake in shares of Incyte Corp. during the fourth quarter worth approximately $2,121,000.

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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