Oppenheimer Analysts Give Incyte (INCY) a $70.00 Price Target
Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. reiterated a buy rating and set a $88.00 price objective on shares of Incyte in a research report on Wednesday, August 1st. Cowen reiterated a buy rating on shares of Incyte in a research report on Tuesday, July 31st. Raymond James reiterated a buy rating on shares of Incyte in a research report on Friday, July 27th. Piper Jaffray Companies started coverage on Incyte in a research report on Wednesday, May 30th. They set a buy rating and a $85.00 price objective on the stock. Finally, Zacks Investment Research upgraded Incyte from a hold rating to a buy rating and set a $79.00 price objective on the stock in a research report on Friday, July 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $100.51.
Shares of Incyte stock opened at $68.09 on Thursday. Incyte has a one year low of $60.22 and a one year high of $120.98. The company has a market cap of $14.14 billion, a P/E ratio of 106.39 and a beta of 1.14. The company has a current ratio of 4.34, a quick ratio of 4.32 and a debt-to-equity ratio of 0.01.
In other Incyte news, EVP Paula J. Swain sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $73.21, for a total transaction of $732,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vijay K. Iyengar sold 606 shares of the firm’s stock in a transaction on Monday, July 9th. The stock was sold at an average price of $71.34, for a total value of $43,232.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,606 shares of company stock valued at $1,475,332. 17.20% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Shikiar Asset Management Inc. increased its stake in Incyte by 534.2% during the second quarter. Shikiar Asset Management Inc. now owns 113,200 shares of the biopharmaceutical company’s stock worth $7,584,000 after acquiring an additional 95,350 shares during the last quarter. Blackhawk Capital Partners LLC. grew its stake in shares of Incyte by 133.0% in the second quarter. Blackhawk Capital Partners LLC. now owns 3,670 shares of the biopharmaceutical company’s stock valued at $246,000 after buying an additional 2,095 shares in the last quarter. Fred Alger Management Inc. grew its stake in shares of Incyte by 272.6% in the second quarter. Fred Alger Management Inc. now owns 111,450 shares of the biopharmaceutical company’s stock valued at $7,467,000 after buying an additional 81,535 shares in the last quarter. BP PLC acquired a new stake in shares of Incyte in the second quarter valued at $1,541,000. Finally, Norinchukin Bank The grew its stake in shares of Incyte by 14.9% in the first quarter. Norinchukin Bank The now owns 16,097 shares of the biopharmaceutical company’s stock valued at $1,341,000 after buying an additional 2,093 shares in the last quarter. 91.52% of the stock is owned by institutional investors.
Incyte Company Profile
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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