Incyte Corp. (NASDAQ:INCY) had its target price boosted by equities research analysts at BMO Capital Markets to $121.00 in a research note issued on Friday. BMO Capital Markets’ price target would indicate a potential upside of 27.66% from the company’s current price.
A number of other equities analysts also recently weighed in on the company. Zacks Investment Research raised Incyte Corp. from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a research report on Tuesday. Leerink Swann increased their price objective on Incyte Corp. from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Monday. Piper Jaffray Cos. set a $99.00 price objective on Incyte Corp. and gave the company a “buy” rating in a report on Wednesday, September 28th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Incyte Corp. in a report on Wednesday, September 28th. Finally, Raymond James Financial Inc. raised Incyte Corp. from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a report on Thursday, September 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have issued a buy rating to the company. Incyte Corp. currently has a consensus rating of “Buy” and an average price target of $104.93.
Incyte Corp. (NASDAQ:INCY) traded up 1.57% during midday trading on Friday, hitting $96.27. 1,587,669 shares of the stock traded hands. The firm has a market cap of $18.10 billion, a P/E ratio of 261.60 and a beta of 0.54. The company has a 50-day moving average price of $84.77 and a 200-day moving average price of $80.67. Incyte Corp. has a 1-year low of $55.00 and a 1-year high of $124.98.
Incyte Corp. (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.20. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. The firm earned $208 million during the quarter, compared to the consensus estimate of $236.91 million. During the same quarter in the prior year, the firm posted $0.05 EPS. The business’s revenue was up 51.1% on a year-over-year basis. Analysts predict that Incyte Corp. will post $0.19 EPS for the current year.
In related news, EVP Paula J. Swain sold 20,000 shares of the firm’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $90.00, for a total value of $1,800,000.00. Following the transaction, the executive vice president now owns 49,248 shares in the company, valued at $4,432,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paula J. Swain sold 60,000 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $90.00, for a total value 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. Company insiders own 13.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of INCY. Fuller & Thaler Asset Management Inc. bought a new position in shares of Incyte Corp. during the second quarter worth approximately $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. Walleye Trading LLC bought a new position in shares of Incyte Corp. during the second quarter worth approximately $120,000. Seven Eight Capital LLC bought a new position in shares of Incyte Corp. during the first quarter worth approximately $113,000. 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.
Incyte Corp. Company Profile