Argus reiterated their buy rating on shares of Incyte Corporation (NASDAQ:INCY) in a research report sent to investors on Wednesday morning. Argus currently has a $150.00 target price on the biopharmaceutical company’s stock.

A number of other analysts also recently weighed in on INCY. Jefferies Group LLC restated a buy rating and issued a $148.00 price target on shares of Incyte Corporation in a research note on Thursday, May 18th. Morgan Stanley restated an overweight rating and issued a $142.00 price target on shares of Incyte Corporation in a research note on Friday, May 19th. J P Morgan Chase & Co set a $149.00 price target on Incyte Corporation and gave the company a buy rating in a research note on Thursday, May 18th. Oppenheimer Holdings, Inc. set a $125.00 price target on Incyte Corporation and gave the company a hold rating in a research note on Thursday, May 18th. Finally, Zacks Investment Research upgraded Incyte Corporation from a sell rating to a hold rating in a research note on Tuesday, May 23rd. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Incyte Corporation has an average rating of Buy and a consensus target price of $142.16.

Shares of Incyte Corporation (NASDAQ INCY) traded down 0.51% on Wednesday, hitting $119.15. The stock had a trading volume of 2,995,901 shares. The firm has a 50 day moving average of $127.40 and a 200 day moving average of $130.21. Incyte Corporation has a 12 month low of $81.49 and a 12 month high of $153.15. The stock’s market cap is $24.51 billion.

Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The business had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $318.45 million. During the same quarter last year, the firm earned $0.18 earnings per share. The firm’s quarterly revenue was up 32.5% compared to the same quarter last year. On average, equities analysts forecast that Incyte Corporation will post ($0.84) earnings per share for the current fiscal year.

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In related news, EVP Barry P. Flannelly sold 714 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $124.25, for a total value of $88,714.50. Following the completion of the transaction, the executive vice president now directly owns 15,496 shares in the company, valued at $1,925,378. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David W. Gryska sold 599 shares of the company’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $129.74, for a total value of $77,714.26. Following the completion of the transaction, the insider now owns 19,614 shares of the company’s stock, valued at $2,544,720.36. The disclosure for this sale can be found here. Insiders sold 54,252 shares of company stock worth $7,206,984 over the last 90 days. Company insiders own 17.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Incyte Corporation by 11.1% in the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock valued at $2,156,276,000 after purchasing an additional 1,709,685 shares during the last quarter. State Street Corp increased its stake in Incyte Corporation by 110.7% in the first quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock valued at $1,013,437,000 after purchasing an additional 3,983,207 shares during the last quarter. Capital International Investors increased its stake in Incyte Corporation by 4.0% in the second quarter. Capital International Investors now owns 6,407,197 shares of the biopharmaceutical company’s stock valued at $806,730,000 after purchasing an additional 246,134 shares during the last quarter. BB Biotech AG increased its stake in Incyte Corporation by 0.7% in the second quarter. BB Biotech AG now owns 3,514,822 shares of the biopharmaceutical company’s stock valued at $442,551,000 after purchasing an additional 25,000 shares during the last quarter. Finally, FMR LLC increased its stake in Incyte Corporation by 8.0% in the first quarter. FMR LLC now owns 2,980,864 shares of the biopharmaceutical company’s stock valued at $398,452,000 after purchasing an additional 219,923 shares during the last quarter. Hedge funds and other institutional investors own 91.06% of the company’s stock.

Incyte Corporation Company Profile

Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).

Analyst Recommendations for Incyte Corporation (NASDAQ:INCY)

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