Cowen and Company reaffirmed their outperform rating on shares of Incyte Corp. (NASDAQ:INCY) in a research report report published on Wednesday.

Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada lifted their price objective on shares of Incyte Corp. from $106.00 to $113.00 and gave the stock an outperform rating in a research report on Wednesday. Goldman Sachs Group Inc. reissued a buy rating on shares of Incyte Corp. in a research report on Wednesday, June 29th. Jefferies Group reissued a buy rating and issued a $98.00 target price on shares of Incyte Corp. in a research report on Wednesday, August 10th. Barclays PLC boosted their target price on shares of Incyte Corp. from $85.00 to $100.00 and gave the company an overweight rating in a research report on Wednesday, August 10th. Finally, Leerink Swann boosted their target price on shares of Incyte Corp. from $85.00 to $95.00 and gave the company an outperform rating in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $105.79.

Analyst Recommendations for Incyte Corp. (NASDAQ:INCY)

Shares of Incyte Corp. (NASDAQ:INCY) traded down 0.11% during midday trading on Wednesday, hitting $89.87. 500,442 shares of the company were exchanged. Incyte Corp. has a one year low of $55.00 and a one year high of $124.98. The company has a market capitalization of $16.90 billion, a P/E ratio of 244.21 and a beta of 0.54. The company has a 50-day moving average of $86.48 and a 200 day moving average of $81.39.

Incyte Corp. (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate 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 business posted $0.05 earnings per share. The company’s revenue for the quarter was up 51.1% compared to the same quarter last year. On average, equities research analysts expect 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 stock in a transaction on Friday, October 7th. The stock was sold at an average price of $97.00, for a total value of $2,347,788.00. Following the completion of the sale, the executive vice president now directly owns 13,595 shares of the company’s stock, valued at approximately $1,318,715. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Reid M. Huber sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $87.96, for a total value of $879,600.00. The disclosure for this sale can be found here. 13.70% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. raised its stake 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 valued at $463,000 after buying an additional 55 shares in the last quarter. Addison Capital Co raised its stake in shares of Incyte Corp. by 0.8% in the third quarter. Addison Capital Co now owns 8,441 shares of the biopharmaceutical company’s stock valued at $796,000 after buying an additional 63 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake 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 valued at $306,000 after buying an additional 73 shares in the last quarter. CIBC Asset Management Inc raised its stake 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 valued at $1,043,000 after buying an additional 87 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake 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 valued at $916,000 after buying an additional 97 shares in the last quarter. 92.32% of the stock is owned by hedge funds and other institutional investors.

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).

5 Day Chart for NASDAQ:INCY

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