The Incyte Corp.’s (INCY) “Outperform” Rating Reiterated at Leerink Swann

The Incyte Corp.’s (INCY) “Outperform” Rating Reiterated at Leerink Swann

Leerink Swann reaffirmed their outperform rating on shares of Incyte Corp. (NASDAQ:INCY) in a research report report published on Wednesday morning. Leerink Swann currently has a $98.00 price target on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on the company. Cowen and Company reaffirmed an outperform rating on shares of Incyte Corp. in a research report on Wednesday, October 12th. Royal Bank Of Canada increased their price target on Incyte Corp. from $106.00 to $113.00 and gave the company an outperform rating in a research report on Wednesday, October 12th. JMP Securities increased their price target on Incyte Corp. from $100.00 to $110.00 and gave the company a market outperform rating in a research report on Monday, October 10th. RBC Capital Markets reissued an outperform rating and issued a $116.00 price target on shares of Incyte Corp. in a research report on Monday, October 10th. Finally, BMO Capital Markets increased their price target on Incyte Corp. from $100.00 to $121.00 and gave the company an outperform rating in a research report on Friday, October 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have issued a buy rating to the stock. Incyte Corp. has a consensus rating of Buy and a consensus target price of $105.03.

Shares of Incyte Corp. (NASDAQ:INCY) opened at 86.70 on Wednesday. Incyte Corp. has a 12-month low of $55.00 and a 12-month high of $124.98. The firm has a market cap of $16.30 billion, a P/E ratio of 235.60 and a beta of 0.53. The stock’s 50 day moving average price is $87.04 and its 200-day moving average price is $81.87.

Incyte Corp. (NASDAQ:INCY) last issued its 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 company had revenue of $208 million for the quarter, compared to analyst estimates of $236.91 million. During the same period in the prior year, the firm earned $0.05 earnings per share. Incyte Corp.’s revenue for the quarter was up 51.1% on a year-over-year basis. On average, analysts predict 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 20,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 49,248 shares of the company’s stock, valued at approximately $4,432,320. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Reid M. Huber sold 10,000 shares of the firm’s stock in a transaction dated 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 company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its stake in 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 during the last quarter. Addison Capital Co boosted its stake in 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 during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in 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 during the last quarter. CIBC Asset Management Inc boosted its stake in 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 during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in 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 during the last quarter. 92.38% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Corp. Company Profile

Related posts

Leave a Comment