Incyte Corp. (INCY) Trading 7.5% Higher
Incyte Corp. (NASDAQ:INCY)’s share price traded up 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. The stock had previously closed at $76.11.
A number of equities analysts have recently issued reports on the stock. Vetr lowered shares of Incyte Corp. from a “hold” rating to a “sell” rating and set a $76.50 target price on the stock. in a research report on Monday, May 23rd. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Incyte Corp. in a research report on Monday, May 2nd. Cowen and Company restated a “buy” rating on shares of Incyte Corp. in a research report on Tuesday, May 3rd. Morgan Stanley restated a “buy” rating on shares of Incyte Corp. in a research report on Thursday, May 19th. Finally, Barclays PLC raised their target price on shares of Incyte Corp. from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nineteen have issued a buy rating to the stock. Incyte Corp. currently has an average rating of “Buy” and an average price target of $105.93.
The company has a market capitalization of $15.40 billion and a PE ratio of 222.55. The company has a 50 day moving average price of $84.46 and a 200-day moving average price of $77.52.
Incyte Corp. (NASDAQ:INCY) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.20. The business earned $208 million during the quarter, compared to analyst estimates of $236.91 million. The business’s quarterly revenue was up 51.1% compared to the same quarter last year. During the same period last year, the business earned $0.05 EPS. On average, equities analysts expect 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 firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 89,248 shares in the company, valued at approximately $8,032,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Reid M. Huber sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was 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.
Other hedge funds have recently made changes to their positions in the company. Calvert Investment Management Inc. increased its stake 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 worth $1,036,000 after buying an additional 2,210 shares in the last quarter. Suntrust Banks Inc. increased its stake 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 worth $1,490,000 after buying an additional 7,232 shares in the last quarter. Finally, KBC Group NV increased its stake 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 worth $4,522,000 after buying an additional 25,025 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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