Incyte Co. (INCY) Given a $152.00 Price Target at Credit Suisse Group AG

Incyte Co. (NASDAQ:INCY) has been assigned a $152.00 target price by stock analysts at Credit Suisse Group AG in a research report issued on Tuesday, May 9th. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Credit Suisse Group AG’s price objective would suggest a potential upside of 18.01% from the stock’s current price.

A number of other research analysts also recently commented on INCY. BMO Capital Markets reaffirmed an “outperform” rating and issued a $149.00 price target (up previously from $135.00) on shares of Incyte in a research note on Thursday, February 16th. TheStreet upgraded Incyte from a “c” rating to a “b-” rating in a report on Tuesday, February 14th. Barclays PLC set a $135.00 target price on Incyte and gave the company a “buy” rating in a report on Saturday, April 8th. Jefferies Group LLC upped their price objective on Incyte from $136.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 15th. Finally, Royal Bank of Canada increased their price target on Incyte from $123.00 to $138.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $139.93.

Analyst Recommendations for Incyte (NASDAQ:INCY)

Incyte (NASDAQ:INCY) traded up 3.29% during mid-day trading on Tuesday, hitting $133.04. 2,386,873 shares of the company’s stock were exchanged. Incyte has a 52 week low of $69.95 and a 52 week high of $153.15. The stock’s market capitalization is $27.24 billion. The firm has a 50 day moving average of $127.15 and a 200 day moving average of $118.91.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The firm had revenue of $384.08 million for the quarter, compared to analyst estimates of $359.19 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The company’s revenue was up 45.8% on a year-over-year basis. Equities analysts forecast that Incyte will post ($0.76) earnings per share for the current fiscal year.

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In other news, EVP Steven H. Stein sold 32,000 shares of the company’s stock in a transaction dated Friday, April 7th. The stock was sold at an average price of $137.88, for a total value of $4,412,160.00. Following the completion of the transaction, the executive vice president now owns 41,648 shares of the company’s stock, valued at $5,742,426.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul A. Friedman sold 50,000 shares of the company’s stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $148.72, for a total value of $7,436,000.00. Following the completion of the transaction, the director now directly owns 302,976 shares of the company’s stock, valued at approximately $45,058,590.72. The disclosure for this sale can be found here. In the last three months, insiders have acquired 3,000 shares of company stock valued at $398,770 and have sold 137,968 shares valued at $19,395,245. Insiders own 13.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Incyte by 22.7% in the first quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock worth $2,060,638,000 after buying an additional 2,847,907 shares during the period. State Street Corp raised its position in Incyte by 110.7% in the first quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock worth $1,013,437,000 after buying an additional 3,983,207 shares during the period. Shelton Capital Management raised its position in Incyte by 30,859.4% in the fourth quarter. Shelton Capital Management now owns 3,595,000 shares of the biopharmaceutical company’s stock worth $1,164,000 after buying an additional 3,583,388 shares during the period. FMR LLC raised its position in Incyte by 8.0% in the first quarter. FMR LLC now owns 2,980,864 shares of the biopharmaceutical company’s stock worth $398,452,000 after buying an additional 219,923 shares during the period. Finally, Franklin Resources Inc. raised its position in Incyte by 5.6% in the fourth quarter. Franklin Resources Inc. now owns 2,959,613 shares of the biopharmaceutical company’s stock worth $296,778,000 after buying an additional 157,191 shares during the period. 92.62% of the stock is owned by hedge funds and other institutional investors.

Incyte 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).

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