Incyte Corp. (NASDAQ:INCY) rose 7.5% during mid-day trading on Monday . The company traded as high as $84.39 and last traded at $81.79, with a volume of 2,017,081 shares trading hands. The stock had previously closed at $76.11.

INCY has been the subject of a number of recent research reports. Cowen and Company reissued a “buy” rating on shares of Incyte Corp. in a research report on Tuesday, May 3rd. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Incyte Corp. in a research report on Monday, May 2nd. Jefferies Group reissued a “buy” rating and issued a $88.00 target price on shares of Incyte Corp. in a research report on Tuesday, May 10th. Brean Capital reissued a “buy” rating and issued a $92.00 target price on shares of Incyte Corp. in a research report on Tuesday, May 10th. Finally, Morgan Stanley reissued a “buy” rating on shares of Incyte Corp. in a research report on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nineteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $105.93.

The stock has a market capitalization of $15.32 billion and a P/E ratio of 221.47. The stock’s 50-day moving average is $84.51 and its 200-day moving average is $77.25.

Incyte Corp. (NASDAQ:INCY) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.20. During the same quarter in the prior year, the business earned $0.05 EPS. The company earned $208 million during the quarter, compared to the consensus estimate of $236.91 million. The firm’s revenue for the quarter was up 51.1% compared to the same quarter last year. On average, analysts expect that Incyte Corp. will post $0.18 EPS for the current fiscal year.

In other Incyte Corp. news, EVP Reid M. Huber sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $87.96, for a total value of $879,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paula J. Swain sold 60,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $90.00, for a total value of $5,400,000.00. Following the completion of the transaction, 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.

A number of hedge funds and institutional investors recently modified their holdings of INCY. KBC Group NV increased 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 in the last quarter. Trexquant Investment LP bought a new position in shares of Incyte Corp. during the fourth quarter valued at approximately $2,121,000. Suntrust Banks Inc. increased its position in shares of Incyte Corp. by 111.1% in the fourth quarter. Suntrust Banks Inc. now owns 13,744 shares of the biopharmaceutical company’s stock valued at $1,490,000 after buying an additional 7,232 shares in the last quarter. Finally, Calvert Investment Management Inc. increased 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 in 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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