Incyte Corp. (NASDAQ:INCY) shares traded up 1.6% during mid-day trading on Friday after BMO Capital Markets raised their price target on the stock to $121.00. The company traded as high as $97.82 and last traded at $96.30, with a volume of 1,714,608 shares changing hands. The stock had previously closed at $94.78.

A number of other research firms have also recently issued reports on INCY. Zacks Investment Research upgraded shares of Incyte Corp. from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research note on Tuesday. Leerink Swann lifted their target price on shares of Incyte Corp. from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte Corp. in a research report on Wednesday, September 28th. Piper Jaffray Cos. set a $99.00 price objective on shares of Incyte Corp. and gave the stock a “buy” rating in a research report on Wednesday, September 28th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $116.00 price objective on shares of Incyte Corp. in a research report on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Incyte Corp. currently has a consensus rating of “Buy” and a consensus target price of $104.93.

In related news, EVP Paula J. Swain sold 20,000 shares of the company’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $90.00, for a total value of $1,800,000.00. Following the completion of the transaction, the executive vice president now directly owns 49,248 shares of the company’s stock, valued at approximately $4,432,320. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Reid M. Huber sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $87.96, for a total transaction of $879,600.00. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in shares of Incyte Corp. by 1.0% in the second quarter. Pacer Advisors Inc. now owns 5,800 shares of the biopharmaceutical company’s stock worth $463,000 after buying an additional 55 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Incyte Corp. by 1.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 4,256 shares of the biopharmaceutical company’s stock worth $306,000 after buying an additional 73 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Incyte Corp. by 0.7% in the second quarter. CIBC Asset Management Inc now owns 13,037 shares of the biopharmaceutical company’s stock worth $1,043,000 after buying an additional 87 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Incyte Corp. by 0.9% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,453 shares of the biopharmaceutical company’s stock worth $916,000 after buying an additional 97 shares during the last quarter. Finally, Globeflex Capital L P raised its position in shares of Incyte Corp. by 1.0% in the second quarter. Globeflex Capital L P now owns 10,150 shares of the biopharmaceutical company’s stock worth $812,000 after buying an additional 100 shares during the last quarter. 92.32% of the stock is owned by hedge funds and other institutional investors.

The firm has a 50-day moving average price of $84.77 and a 200 day moving average price of $80.67. The company has a market capitalization of $18.14 billion, a PE ratio of 262.17 and a beta of 0.54.

Incyte Corp. (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.20. The firm earned $208 million during the quarter, compared to the consensus estimate of $236.91 million. Incyte Corp. had a net margin of 7.87% and a return on equity of 37.76%. The company’s revenue for the quarter was up 51.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 earnings per share. On average, equities research analysts predict that Incyte Corp. will post $0.19 earnings per share for the current year.

About Incyte Corp.

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).

5 Day Chart for NASDAQ:INCY

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