Incyte Corp. (NASDAQ:INCY) shares dropped 3.4% on Tuesday . The company traded as low as $77.70 and last traded at $77.85, with a volume of 1,518,761 shares changing hands. The stock had previously closed at $80.55.

INCY has been the topic of a number of recent analyst reports. Piper Jaffray Cos. set a $102.00 price target on shares of Incyte Corp. and gave the company a “buy” rating in a research report on Tuesday. Zacks Investment Research raised shares of Incyte Corp. from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Tuesday, July 19th. Jefferies Group reaffirmed a “buy” rating and issued a $98.00 price objective on shares of Incyte Corp. in a research report on Wednesday, August 10th. Brean Capital reaffirmed a “buy” rating on shares of Incyte Corp. in a research report on Monday, June 6th. Finally, Leerink Swann lifted their price objective on shares of Incyte Corp. from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nineteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $105.93.

The stock’s 50 day moving average is $84.70 and its 200 day moving average is $77.23. The company has a market capitalization of $14.64 billion and a price-to-earnings ratio of 211.563.

Incyte Corp. (NASDAQ:INCY) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.20. During the same quarter in the prior year, the company posted $0.05 EPS. The company had revenue of $208 million for the quarter, compared to the consensus estimate of $236.91 million. Incyte Corp.’s revenue was up 51.1% on a year-over-year basis. Equities research analysts anticipate that Incyte Corp. will post $0.17 EPS for the current year.

In other Incyte Corp. news, EVP Paula J. Swain sold 60,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 89,248 shares in the company, valued at approximately $8,032,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Reid M. Huber sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $87.96, for a total transaction of $879,600.00. The disclosure for this sale can be found here.

Several institutional investors have modified their holdings of the company. Trexquant Investment LP acquired a new position in shares of Incyte Corp. during the fourth quarter valued at $2,121,000. Andra AP fonden boosted its position in shares of 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. BlackRock Advisors LLC boosted its position in shares of 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. Calvert Investment Management Inc. boosted its position in shares of Incyte Corp. by 30.1% in the fourth quarter. Calvert Investment Management Inc. now owns 9,550 shares of the biopharmaceutical company’s stock valued at $1,036,000 after buying an additional 2,210 shares during the period. Finally, KBC Group NV boosted its position in shares of Incyte Corp. by 150.1% in the fourth quarter. KBC Group NV now owns 41,700 shares of the biopharmaceutical company’s stock valued at $4,522,000 after buying an additional 25,025 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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