Incyte Corp. (INCY) Given Outperform Rating at Leerink Swann
Incyte Corp. (NASDAQ:INCY)‘s stock had its “outperform” rating reaffirmed by investment analysts at Leerink Swann in a research report issued to clients and investors on Wednesday. They currently have a $98.00 price target on the biopharmaceutical company’s stock. Leerink Swann’s price objective would indicate a potential upside of 6.39% from the stock’s current price.
Other equities research analysts have also recently issued reports about the stock. Royal Bank Of Canada upped their target price on shares of Incyte Corp. from $106.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday. Cowen and Company reaffirmed an “outperform” rating on shares of Incyte Corp. in a report on Wednesday. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Incyte Corp. in a report on Wednesday, June 29th. Jefferies Group reaffirmed a “buy” rating and issued a $98.00 target price on shares of Incyte Corp. in a report on Wednesday, August 10th. Finally, Barclays PLC upped their target price on shares of Incyte Corp. from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 10th. One equities research 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 presently has a consensus rating of “Buy” and an average target price of $105.79.
Shares of Incyte Corp. (NASDAQ:INCY) traded down 0.54% during trading on Wednesday, reaching $91.61. The company had a trading volume of 683,458 shares. The firm has a 50-day moving average of $86.25 and a 200 day moving average of $81.33. The firm has a market capitalization of $17.22 billion, a PE ratio of 248.94 and a beta of 0.54. Incyte Corp. has a 1-year low of $55.00 and a 1-year high of $124.98.
Incyte Corp. (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating 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 earned $208 million during the quarter, compared to analysts’ expectations of $236.91 million. During the same period in the previous year, the company earned $0.05 earnings per share. Incyte Corp.’s quarterly revenue was up 51.1% compared to the same quarter last year. Analysts expect that Incyte Corp. will post $0.19 earnings per share for the current year.
In other Incyte Corp. news, EVP Paula J. Swain sold 20,000 shares of the firm’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $90.00, for a total transaction 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 this hyperlink. Also, EVP Reid M. Huber sold 10,000 shares of the firm’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. Corporate insiders own 13.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. bought a new position in shares of Incyte Corp. during the second quarter valued at $104,000. Acrospire Investment Management LLC increased its position in 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. Walleye Trading LLC acquired a new position in Incyte Corp. during the second quarter worth about $120,000. Seven Eight Capital LLC acquired a new position in Incyte Corp. during the first quarter worth about $113,000. Finally, Fifth Third Bancorp increased its position in 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 owned by institutional investors.
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).
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