Incyte Corp. (INCY) Given Outperform Rating at Leerink Swann
Incyte Corp. (NASDAQ:INCY)‘s stock had its “outperform” rating reaffirmed by investment analysts at Leerink Swann in a report issued on Wednesday. They currently have a $98.00 price objective on the biopharmaceutical company’s stock. Leerink Swann’s target price would indicate a potential upside of 6.39% from the company’s previous close.
A number of other analysts also recently weighed in on INCY. JMP Securities reiterated an “outperform” rating and issued a $100.00 price target on shares of Incyte Corp. in a research report on Wednesday, June 15th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Incyte Corp. in a research note on Wednesday, June 29th. Royal Bank Of Canada started coverage on Incyte Corp. in a research note on Tuesday, July 12th. They set an “outperform” rating and a $105.00 target price for the company. Zacks Investment Research raised Incyte Corp. from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Tuesday, July 19th. Finally, Piper Jaffray Cos. reissued a “buy” rating and set a $102.00 target price (up from $76.00) on shares of Incyte Corp. in a research note on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have given a buy rating to the company. Incyte Corp. has an average rating of “Buy” and a consensus price target of $105.79.
Incyte Corp. (NASDAQ:INCY) traded down 0.54% on Wednesday, hitting $91.61. 683,458 shares of the stock were exchanged. Incyte Corp. has a 1-year low of $55.00 and a 1-year high of $124.98. The company’s 50 day moving average is $86.25 and its 200 day moving average is $81.33. The stock has a market cap of $17.22 billion, a PE ratio of 248.94 and a beta of 0.54.
Incyte Corp. (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.20. The business had revenue of $208 million for the quarter, compared to the consensus estimate of $236.91 million. Incyte Corp. had a net margin of 7.87% and a return on equity of 37.76%. Incyte Corp.’s revenue for the quarter was up 51.1% on a year-over-year basis. During the same period last year, the company posted $0.05 EPS. On average, equities research analysts expect that Incyte Corp. will post $0.19 earnings per share for the current year.
In related news, EVP Paula J. Swain sold 60,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 89,248 shares in the company, valued at $8,032,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 24,204 shares of the firm’s stock in a transaction on Friday, October 7th. The stock was sold at an average price of $97.00, for a total value of $2,347,788.00. Following the completion of the transaction, the executive vice president now owns 13,595 shares in the company, valued at approximately $1,318,715. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of INCY. Fuller & Thaler Asset Management Inc. bought a new position in shares of Incyte Corp. during the second quarter worth approximately $104,000. Acrospire Investment Management LLC boosted its position in shares of Incyte Corp. by 18.2% in the second quarter. Acrospire Investment Management LLC now owns 1,300 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 200 shares during the last quarter. Seven Eight Capital LLC bought a new position in shares of Incyte Corp. during the first quarter worth approximately $113,000. Walleye Trading LLC bought a new position in shares of Incyte Corp. during the second quarter worth approximately $120,000. Finally, Fifth Third Bancorp boosted its position in shares of Incyte Corp. by 16.2% in the second quarter. Fifth Third Bancorp now owns 1,678 shares of the biopharmaceutical company’s stock worth $134,000 after buying an additional 234 shares during the last quarter. Institutional investors own 92.32% of the company’s stock.
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).
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