RBC Capital Markets restated their outperform rating on shares of Incyte Corp. (NASDAQ:INCY) in a research report sent to investors on Monday morning. The firm currently has a $116.00 price objective on the biopharmaceutical company’s stock.

Other equities analysts have also issued research reports about the stock. Goldman Sachs Group Inc. reiterated a buy rating on shares of Incyte Corp. in a report on Wednesday, June 29th. Jefferies Group reiterated a buy rating and issued a $98.00 price objective on shares of Incyte Corp. in a report on Wednesday, August 10th. Barclays PLC boosted their price objective on shares of Incyte Corp. from $85.00 to $100.00 and gave the stock an overweight rating in a report on Wednesday, August 10th. BMO Capital Markets boosted their price objective on shares of Incyte Corp. from $100.00 to $121.00 and gave the stock an outperform rating in a report on Friday. Finally, Leerink Swann boosted their price objective on shares of Incyte Corp. from $85.00 to $95.00 and gave the stock an outperform rating in a report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $105.40.

Analyst Recommendations for Incyte Corp. (NASDAQ:INCY)

Shares of Incyte Corp. (NASDAQ:INCY) traded down 2.74% during midday trading on Monday, hitting $93.32. 524,107 shares of the stock traded hands. The firm has a 50-day moving average price of $85.96 and a 200 day moving average price of $81.25. Incyte Corp. has a one year low of $55.00 and a one year high of $124.98. The stock has a market cap of $17.54 billion, a price-to-earnings ratio of 253.59 and a beta of 0.53.

Incyte Corp. (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.20. Incyte Corp. had a net margin of 7.87% and a return on equity of 37.76%. The firm had revenue of $208 million for the quarter, compared to analyst estimates of $236.91 million. During the same quarter in the previous year, the business posted $0.05 EPS. The firm’s revenue was up 51.1% compared to the same quarter last year. Analysts anticipate that Incyte Corp. will post $0.19 earnings per share for the current year.

In related news, EVP Paula J. Swain sold 60,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 89,248 shares in the company, valued at approximately $8,032,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paula J. Swain sold 20,000 shares of the stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $90.00, for a total transaction of $1,800,000.00. Following the sale, the executive vice president now owns 49,248 shares of the company’s stock, valued at approximately $4,432,320. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.

Several large investors have recently made changes to their positions in INCY. Fuller & Thaler Asset Management Inc. purchased 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 period. Seven Eight Capital LLC purchased a new stake in shares of Incyte Corp. during the first quarter worth about $113,000. Walleye Trading LLC purchased 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 period. Institutional investors and hedge funds own 92.32% of the company’s stock.

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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