Shares of Incyte Corp. (NASDAQ:INCY) traded down 1.6% during trading on Tuesday . The company traded as low as $80.51 and last traded at $80.68, with a volume of 592,682 shares traded. The stock had previously closed at $81.98.

A number of analysts recently commented on the stock. Piper Jaffray Cos. reiterated 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. assumed coverage on shares of Incyte Corp. in a research note on Friday, August 5th. They issued a “buy” rating and a $105.00 target price for the company. Barclays PLC lifted their target price on shares of Incyte Corp. from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 10th. Jefferies Group reiterated a “buy” rating and issued a $98.00 target price on shares of Incyte Corp. in a research note on Wednesday, August 10th. Finally, Leerink Swann lifted their target price on shares of Incyte Corp. from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $105.93.

The stock has a market capitalization of $15.40 billion and a PE ratio of 222.55. The firm’s 50-day moving average is $84.46 and its 200-day moving average is $77.52.

Incyte Corp. (NASDAQ:INCY) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.20. The firm had revenue of $208 million for the quarter, compared to analysts’ expectations of $236.91 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up 51.1% on a year-over-year basis. On average, equities research analysts anticipate that Incyte Corp. will post $0.18 earnings per share for the current year.

In other Incyte Corp. news, EVP Paula J. Swain sold 60,000 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $90.00, for a total value of $5,400,000.00. Following the transaction, the executive vice president now directly owns 89,248 shares in the company, valued at $8,032,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Reid M. Huber sold 10,000 shares of the stock in a transaction that occurred on 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.

A number of institutional investors recently made changes to their positions in the stock. KBC Group NV raised 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. raised 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. raised 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).

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.