Incyte Corp. (INCY) Stock Rating Reaffirmed by RBC Capital Markets
Incyte Corp. (NASDAQ:INCY)‘s stock had its “outperform” rating reissued by equities research analysts at RBC Capital Markets in a research report issued on Monday. They presently have a $116.00 target price on the biopharmaceutical company’s stock. RBC Capital Markets’ target price would suggest a potential upside of 25.94% from the company’s previous close.
Other analysts have also issued research reports about the company. Zacks Investment Research raised Incyte Corp. from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a research note on Tuesday, October 4th. BMO Capital Markets increased their price objective on Incyte Corp. from $100.00 to $121.00 and gave the company an “outperform” rating in a research note on Friday, October 7th. Leerink Swann increased their price objective on Incyte Corp. from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Monday, October 3rd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Incyte Corp. in a research note on Wednesday, September 28th. Finally, Piper Jaffray Cos. set a $99.00 price objective on Incyte Corp. and gave the company a “buy” rating in a research note on Wednesday, September 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $105.40.
Shares of Incyte Corp. (NASDAQ:INCY) opened at 92.11 on Monday. The firm’s 50-day moving average is $86.25 and its 200 day moving average is $81.33. The firm has a market cap of $17.32 billion, a PE ratio of 250.30 and a beta of 0.54. Incyte Corp. has a 52 week low of $55.00 and a 52 week high of $124.98.
Incyte Corp. (NASDAQ:INCY) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.20. The company had revenue of $208 million for the quarter, compared to analyst estimates of $236.91 million. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. Incyte Corp.’s revenue was up 51.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.05 earnings per share. Equities research analysts forecast that Incyte Corp. will post $0.19 EPS for the current year.
In related news, 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 transaction of $5,400,000.00. Following the sale, the executive vice president now directly owns 89,248 shares in the company, valued at approximately $8,032,320. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Reid M. Huber sold 10,000 shares of the firm’s stock in a transaction dated 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. Corporate insiders own 13.70% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Incyte Corp. during the second quarter valued at approximately $104,000. Acrospire Investment Management LLC increased its stake 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 valued at $104,000 after buying an additional 200 shares during the last quarter. Walleye Trading LLC bought a new stake in shares of Incyte Corp. during the second quarter valued at approximately $120,000. Seven Eight Capital LLC bought a new stake in shares of Incyte Corp. during the first quarter valued at approximately $113,000. Finally, Fifth Third Bancorp increased its stake 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 valued at $134,000 after buying an additional 234 shares during the last quarter. Institutional investors and hedge funds 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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