Today, RBC Capital Markets Reiterates $113.00 Price Target for Incyte Corp. (INCY)

Today, RBC Capital Markets Reiterates $113.00 Price Target for Incyte Corp. (INCY)

RBC Capital Markets set a $113.00 target price on Incyte Corp. (NASDAQ:INCY) in a research note issued to investors on Wednesday morning. The brokerage currently has a a buy rating on the biopharmaceutical company’s stock.

Several other research firms have also recently weighed in on INCY. Piper Jaffray Cos. set a $102.00 price objective on Incyte Corp. and gave the stock a buy rating in a research report on Tuesday, August 16th. Zacks Investment Research raised 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. Leerink Swann upped their price objective on Incyte Corp. from $95.00 to $98.00 and gave the stock an outperform rating in a research report on Monday, October 3rd. Jefferies Group reaffirmed a buy rating and set a $98.00 price objective on shares of Incyte Corp. in a research report on Wednesday, August 10th. 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 research report on Thursday, September 29th. One research 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. The company presently has a consensus rating of Buy and an average target price of $105.03.

Shares of Incyte Corp. (NASDAQ:INCY) opened at 87.10 on Wednesday. Incyte Corp. has a 12-month low of $55.00 and a 12-month high of $124.98. The firm has a 50-day moving average price of $86.88 and a 200-day moving average price of $81.58. The firm has a market cap of $16.37 billion, a price-to-earnings ratio of 236.68 and a beta of 0.53.

Incyte Corp. (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, topping 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 return on equity of 37.76% and a net margin of 7.87%. Incyte Corp.’s revenue for the quarter was up 51.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. Equities research analysts anticipate that Incyte Corp. will post $0.19 EPS for the current year.

In other Incyte Corp. news, EVP Barry P. Flannelly sold 24,204 shares of the firm’s 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 sale, the executive vice president now owns 13,595 shares of the company’s stock, valued at approximately $1,318,715. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Paula J. Swain sold 20,000 shares of the firm’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $90.00, for a total value of $1,800,000.00. Following the completion of the sale, the executive vice president now directly owns 49,248 shares in the company, valued at approximately $4,432,320. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Incyte Corp. during the second quarter worth $104,000. Acrospire Investment Management LLC increased its stake 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 in the last quarter. Seven Eight Capital LLC acquired a new stake in shares of Incyte Corp. during the first quarter worth $113,000. Walleye Trading LLC acquired a new stake in shares of Incyte Corp. during the second quarter worth $120,000. Finally, Fifth Third Bancorp increased its stake 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 in the last quarter. 92.38% of the stock is currently owned by hedge funds and other institutional investors.

About Incyte Corp.

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