Incyte Corp. (NASDAQ:INCY) Receives Average Recommendation of “Buy” from Brokerages
Shares of Incyte Corp. (NASDAQ:INCY) have earned an average recommendation of “Buy” from the twenty-three ratings firms that are presently covering the firm. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $104.09.
A number of analysts recently commented on the company. RBC Capital Markets reaffirmed an “outperform” rating and issued a $116.00 target price on shares of Incyte Corp. in a research report on Wednesday, September 28th. Barclays PLC boosted their target price on Incyte Corp. from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 10th. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $102.00 target price (up from $76.00) on shares of Incyte Corp. in a research report on Monday, August 1st. SunTrust Banks Inc. assumed coverage on Incyte Corp. in a research report on Friday, August 5th. They issued a “buy” rating and a $105.00 target price for the company. Finally, JMP Securities reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Incyte Corp. in a research report on Wednesday, June 15th.
In other Incyte Corp. news, EVP Reid M. Huber sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $87.96, for a total transaction of $879,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Paula J. Swain sold 60,000 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $90.00, for a total transaction of $5,400,000.00. Following the sale, the executive vice president now directly owns 89,248 shares in the company, valued at approximately $8,032,320. The disclosure for this sale can be found here. 13.70% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Incyte Corp. during the second quarter worth about $104,000. Acrospire Investment Management LLC boosted its stake in shares of Incyte Corp. by 18.2% in the second quarter. Acrospire Investment Management LLC now owns 1,300 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 200 shares during the last quarter. Seven Eight Capital LLC acquired a new stake in shares of Incyte Corp. during the first quarter worth about $113,000. Walleye Trading LLC acquired a new stake in shares of Incyte Corp. during the second quarter worth about $120,000. Finally, Fifth Third Bancorp boosted its stake in shares of Incyte Corp. by 16.2% in the second quarter. Fifth Third Bancorp now owns 1,678 shares of the biopharmaceutical company’s stock worth $134,000 after buying an additional 234 shares during the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.
Incyte Corp. (NASDAQ:INCY) traded up 1.645% during mid-day trading on Friday, reaching $96.339. The company’s stock had a trading volume of 1,669,804 shares. Incyte Corp. has a 52-week low of $55.00 and a 52-week high of $124.98. The company has a market cap of $18.11 billion, a price-to-earnings ratio of 261.791 and a beta of 0.54. The firm has a 50 day moving average price of $84.78 and a 200 day moving average price of $80.67.
Incyte Corp. (NASDAQ:INCY) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.20. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. The business earned $208 million during the quarter, compared to analyst estimates of $236.91 million. During the same period in the previous year, the company posted $0.05 EPS. The firm’s revenue was up 51.1% compared to the same quarter last year. Equities research analysts anticipate that Incyte Corp. will post $0.19 earnings per share for the current year.
Incyte Corp. Company Profile
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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