BMO Capital Markets reaffirmed their outperform rating on shares of Incyte Corporation (NASDAQ:INCY) in a report released on Monday morning. They currently have a $163.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $172.00.

Several other analysts also recently commented on the stock. Morgan Stanley reissued an overweight rating and set a $142.00 price objective on shares of Incyte Corporation in a research report on Friday, May 19th. Zacks Investment Research raised shares of Incyte Corporation from a sell rating to a hold rating in a research report on Tuesday, May 23rd. Jefferies Group LLC reissued a buy rating and set a $148.00 price objective on shares of Incyte Corporation in a research report on Thursday, May 18th. J P Morgan Chase & Co reissued a buy rating and set a $149.00 price objective on shares of Incyte Corporation in a research report on Thursday, August 31st. Finally, Oppenheimer Holdings, Inc. reissued a hold rating and set a $135.00 price objective on shares of Incyte Corporation in a research report on Thursday, August 31st. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $142.16.

Shares of Incyte Corporation (INCY) opened at 119.78 on Monday. The company’s market cap is $24.64 billion. Incyte Corporation has a 12 month low of $79.75 and a 12 month high of $153.15. The firm has a 50-day moving average of $127.79 and a 200 day moving average of $130.32.

Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The firm had revenue of $326.40 million for the quarter, compared to analysts’ expectations of $318.45 million. During the same period last year, the company posted $0.18 earnings per share. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. On average, analysts expect that Incyte Corporation will post ($0.84) earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This article was originally published by Daily Political and is the property of of Daily Political. If you are reading this article on another website, it was stolen and republished in violation of international copyright laws. The correct version of this article can be accessed at https://www.dailypolitical.com/2017/09/15/incyte-corporations-incy-outperform-rating-reaffirmed-at-bmo-capital-markets.html.

In other Incyte Corporation news, EVP Paula J. Swain sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $140.00, for a total transaction of $2,800,000.00. Following the sale, the executive vice president now owns 55,067 shares in the company, valued at approximately $7,709,380. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bros. Advisors Lp Baker bought 100,000 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were purchased at an average price of $132.00 per share, for a total transaction of $13,200,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 53,538 shares of company stock worth $7,118,269. 17.70% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INCY. Quantbot Technologies LP raised its position in shares of Incyte Corporation by 30,032.7% during the first quarter. Quantbot Technologies LP now owns 14,765 shares of the biopharmaceutical company’s stock valued at $1,973,000 after buying an additional 14,716 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Incyte Corporation by 9.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 27,147 shares of the biopharmaceutical company’s stock valued at $3,418,000 after buying an additional 2,455 shares during the last quarter. Calamos Advisors LLC raised its position in shares of Incyte Corporation by 37.7% during the second quarter. Calamos Advisors LLC now owns 113,132 shares of the biopharmaceutical company’s stock valued at $14,244,000 after buying an additional 30,990 shares during the last quarter. Legal & General Group Plc raised its position in shares of Incyte Corporation by 11.5% during the first quarter. Legal & General Group Plc now owns 738,591 shares of the biopharmaceutical company’s stock valued at $98,727,000 after buying an additional 76,447 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Incyte Corporation by 23.3% during the second quarter. Pacer Advisors Inc. now owns 7,111 shares of the biopharmaceutical company’s stock valued at $895,000 after buying an additional 1,345 shares during the last quarter. Institutional investors own 91.06% of the company’s stock.

Incyte Corporation Company Profile

Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).

Analyst Recommendations for Incyte Corporation (NASDAQ:INCY)

Receive News & Ratings for Incyte Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corporation and related companies with MarketBeat.com's FREE daily email newsletter.