Incyte Corp. (INCY) PT Set at $113.00 by RBC Capital Markets
Incyte Corp. (NASDAQ:INCY) has been assigned a $113.00 target price by investment analysts at RBC Capital Markets in a note issued to investors on Wednesday. The brokerage currently has a a “buy” rating on the biopharmaceutical company’s stock. RBC Capital Markets’ price objective would indicate a potential upside of 25.60% from the stock’s previous close.
A number of other equities research analysts have also weighed in on INCY. Royal Bank Of Canada boosted their price objective on shares of Incyte Corp. from $106.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte Corp. in a 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 report on Wednesday, September 28th. 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. Finally, Jefferies Group restated a “buy” rating and issued a $98.00 price objective on shares of Incyte Corp. in a report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, one has given 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 price target of $105.64.
Shares of Incyte Corp. (NASDAQ:INCY) traded up 0.074% on Wednesday, reaching $90.037. 1,129,606 shares of the company traded hands. The stock’s 50 day moving average price is $86.48 and its 200-day moving average price is $81.39. The stock has a market capitalization of $16.93 billion, a P/E ratio of 244.666 and a beta of 0.54. Incyte Corp. has a one year low of $55.00 and a one year high of $124.98.
Incyte Corp. (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.20. The firm earned $208 million during the quarter, compared to analyst estimates of $236.91 million. Incyte Corp. had a net margin of 7.87% and a return on equity of 37.76%. The business’s quarterly revenue was up 51.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS. Equities analysts forecast that Incyte Corp. will post $0.19 earnings per share for the current fiscal year.
In related news, EVP Barry P. Flannelly sold 24,204 shares of the company’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $97.00, for a total value of $2,347,788.00. Following the transaction, the executive vice president now owns 13,595 shares in the company, valued at approximately $1,318,715. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Paula J. Swain sold 60,000 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $90.00, for a total transaction of $5,400,000.00. Following the completion of the transaction, the executive vice president now 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 currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Incyte Corp. during the second quarter worth about $104,000. Acrospire Investment Management LLC boosted its position 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 purchased a new position in shares of Incyte Corp. during the first quarter worth about $113,000. Walleye Trading LLC purchased a new position in shares of Incyte Corp. during the second quarter worth about $120,000. Finally, Fifth Third Bancorp boosted its position 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. Institutional investors 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).
Receive News & Stock Ratings for Incyte Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corp. and related stocks with our FREE daily email newsletter.