Incyte Corp. (INCY) Trading 1.6% Higher After Analyst Upgrade
Shares of Incyte Corp. (NASDAQ:INCY) were up 1.6% during trading on Friday after BMO Capital Markets raised their price target on the stock to $121.00. The company traded as high as $97.82 and last traded at $96.30, with a volume of 1,714,608 shares traded. The stock had previously closed at $94.78.
Several other research firms have also recently commented on INCY. Piper Jaffray Cos. set a $102.00 price target on Incyte Corp. and gave the company a “buy” rating in a report on Tuesday, August 16th. Zacks Investment Research upgraded Incyte Corp. from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a report on Tuesday, July 19th. Leerink Swann lifted their price target on Incyte Corp. from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Monday, October 3rd. Jefferies Group restated a “buy” rating and issued a $98.00 price target on shares of Incyte Corp. in a report on Wednesday, August 10th. Finally, Raymond James Financial Inc. upgraded Incyte Corp. from a “market perform” rating to an “outperform” rating and set a $115.00 price target for the company in a report on Thursday, September 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $104.93.
In related news, EVP Paula J. Swain sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $90.00, for a total transaction of $1,800,000.00. Following the sale, the executive vice president now directly owns 49,248 shares of the company’s stock, valued at approximately $4,432,320. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Reid M. Huber sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $87.96, for a total value of $879,600.00. The disclosure for this sale can be found here. 13.70% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of INCY. Fuller & Thaler Asset Management Inc. purchased a new stake in Incyte Corp. during the second quarter valued at about $104,000. Acrospire Investment Management LLC raised its stake in Incyte Corp. by 18.2% in the second quarter. Acrospire Investment Management LLC now owns 1,300 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 200 shares in the last quarter. Seven Eight Capital LLC purchased a new stake in Incyte Corp. during the first quarter valued at about $113,000. Walleye Trading LLC purchased a new stake in Incyte Corp. during the second quarter valued at about $120,000. Finally, Fifth Third Bancorp raised its stake in Incyte Corp. by 16.2% in the second quarter. Fifth Third Bancorp now owns 1,678 shares of the biopharmaceutical company’s stock valued at $134,000 after buying an additional 234 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.
The stock has a market cap of $18.39 billion, a price-to-earnings ratio of 265.84 and a beta of 0.54. The stock’s 50 day moving average is $85.39 and its 200-day moving average is $80.88.
Incyte Corp. (NASDAQ:INCY) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.20. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. The company had revenue of $208 million for the quarter, compared to analyst estimates of $236.91 million. During the same period in the prior year, the firm posted $0.05 EPS. The business’s revenue was up 51.1% compared to the same quarter last year. On average, equities research analysts predict that Incyte Corp. will post $0.19 earnings per share for the current year.
Incyte Corp. Company Profile
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).
Receive News & Ratings for Incyte Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corp. and related companies with MarketBeat.com's FREE daily email newsletter.