The Incyte Corp. (NASDAQ:INCY) Given Average Recommendation of “Buy” from Brokerages

The Incyte Corp. (NASDAQ:INCY) Given Average Recommendation of “Buy” from Brokerages

Shares of Incyte Corp. (NASDAQ:INCY) have earned a consensus rating of “Buy” from the twenty-three brokerages that are covering the company. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and twenty have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $104.09.

Several equities research analysts have issued reports on INCY shares. JMP Securities reissued an “outperform” rating and issued a $100.00 price objective on shares of Incyte Corp. in a research report on Wednesday, June 15th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Incyte Corp. in a research report on Wednesday, June 29th. Royal Bank Of Canada started coverage on shares of Incyte Corp. in a research report on Tuesday, July 12th. They issued an “outperform” rating and a $105.00 price objective for the company. Leerink Swann reissued a “buy” rating on shares of Incyte Corp. in a research report on Monday, July 18th. Finally, Zacks Investment Research raised shares of Incyte Corp. from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Tuesday, July 19th.

Shares of Incyte Corp. (NASDAQ:INCY) traded up 1.645% during midday trading on Friday, hitting $96.339. 1,669,804 shares of the company traded hands. The stock has a market capitalization of $18.11 billion, a P/E ratio of 261.791 and a beta of 0.54. Incyte Corp. has a 52 week low of $55.00 and a 52 week high of $124.98. The company has a 50-day moving average price of $84.78 and a 200-day moving average price of $80.67.

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Incyte Corp. (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.20. The company earned $208 million during the quarter, compared to analysts’ expectations of $236.91 million. Incyte Corp. had a net margin of 7.87% and a return on equity of 37.76%. The firm’s quarterly revenue was up 51.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 EPS. Analysts anticipate that Incyte Corp. will post $0.19 earnings per share for the current fiscal year.

In other Incyte Corp. news, EVP Paula J. Swain sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $90.00, for a total transaction of $5,400,000.00. Following the transaction, the executive vice president now owns 89,248 shares in the company, valued at approximately $8,032,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paula J. Swain sold 20,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 49,248 shares in the company, valued at approximately $4,432,320. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Aperio Group LLC raised its stake in Incyte Corp. by 10.6% in the first quarter. Aperio Group LLC now owns 28,947 shares of the biopharmaceutical company’s stock worth $2,098,000 after buying an additional 2,777 shares during the last quarter. Prudential Financial Inc. raised its stake in Incyte Corp. by 34.1% in the first quarter. Prudential Financial Inc. now owns 93,615 shares of the biopharmaceutical company’s stock worth $6,785,000 after buying an additional 23,800 shares during the last quarter. Algert Global LLC acquired a new stake in Incyte Corp. during the first quarter worth $523,000. BlackRock Japan Co. Ltd raised its stake in Incyte Corp. by 1.7% in the first quarter. BlackRock Japan Co. Ltd now owns 209,597 shares of the biopharmaceutical company’s stock worth $15,189,000 after buying an additional 3,417 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in Incyte Corp. during the first quarter worth $812,000. Institutional investors and hedge funds own 92.32% of the company’s stock.

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