Oppenheimer set a $70.00 target price on Incyte (NASDAQ:INCY) in a report released on Thursday. The firm currently has a hold rating on the biopharmaceutical company’s stock.

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.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.22. Incyte had a positive return on equity of 1.74% and a negative net margin of 5.92%. The firm had revenue of $521.50 million for the quarter, compared to the consensus estimate of $510.70 million. During the same quarter last year, the business posted ($0.06) earnings per share. The firm’s revenue was up 59.8% compared to the same quarter last year. research analysts predict that Incyte will post 0.43 earnings per share for the current year.

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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Analyst Recommendations for Incyte (NASDAQ:INCY)

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