Incyte Corp. (NASDAQ:INCY) traded down 2.2% on Monday . The stock traded as low as $88.23 and last traded at $88.88, with a volume of 429,114 shares trading hands. The stock had previously closed at $90.84.

Several equities research analysts have weighed in on the stock. Piper Jaffray Cos. restated a “buy” rating and issued a $102.00 target price (up from $76.00) on shares of Incyte Corp. in a research note on Monday, August 1st. SunTrust Banks Inc. started coverage on shares of Incyte Corp. in a report on Friday. They issued a “buy” rating and a $105.00 price target for the company. BMO Capital Markets reaffirmed a “buy” rating and issued a $97.00 price target (up previously from $91.00) on shares of Incyte Corp. in a report on Tuesday, June 7th. Royal Bank Of Canada started coverage on shares of Incyte Corp. in a report on Tuesday, July 12th. They issued an “outperform” rating and a $105.00 price target for the company. Finally, Brean Capital reaffirmed a “buy” rating on shares of Incyte Corp. in a report on Monday, June 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $104.18.

The stock’s 50 day moving average is $83.98 and its 200 day moving average is $76.92. The company has a market cap of $16.52 billion and a price-to-earnings ratio of 355.00.

In related news, EVP Reid M. Huber sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $87.96, for a total value of $879,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paula J. Swain sold 60,000 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $90.00, for a total transaction of $5,400,000.00. Following the completion of the sale, the executive vice president now owns 89,248 shares of the company’s stock, valued at approximately $8,032,320. The disclosure for this sale can be found here.

Other hedge funds have added to or reduced their stakes in the company. Trexquant Investment LP acquired a new stake in Incyte Corp. during the fourth quarter valued at approximately $2,121,000. Globeflex Capital L P acquired a new stake in Incyte Corp. during the fourth quarter valued at approximately $1,112,000. Eaton Vance Management increased its stake in Incyte Corp. by 28.8% in the fourth quarter. Eaton Vance Management now owns 155,012 shares of the biopharmaceutical company’s stock valued at $16,811,000 after buying an additional 34,685 shares during the period. Andra AP fonden increased its stake in Incyte Corp. by 17.7% in the fourth quarter. Andra AP fonden now owns 17,300 shares of the biopharmaceutical company’s stock valued at $1,876,000 after buying an additional 2,600 shares during the period. Finally, BlackRock Advisors LLC increased its stake in Incyte Corp. by 95.0% in the fourth quarter. BlackRock Advisors LLC now owns 922,670 shares of the biopharmaceutical company’s stock valued at $100,064,000 after buying an additional 449,615 shares during the period.

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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