Incyte Corporation (NASDAQ:INCY) had its target price increased by stock analysts at Barclays PLC from $135.00 to $185.00 in a report released on Tuesday, July 4th, StockTargetPrices.com reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays PLC’s price objective indicates a potential upside of 36.29% from the company’s previous close.
A number of other brokerages have also recently weighed in on INCY. Zacks Investment Research cut shares of Incyte Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. UBS AG cut shares of Incyte Corporation from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 5th. Piper Jaffray Companies reiterated a “neutral” rating and set a $124.00 price target on shares of Incyte Corporation in a research note on Monday, April 17th. Raymond James Financial, Inc. reiterated a “hold” rating on shares of Incyte Corporation in a research note on Monday, April 17th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $148.00 price target (down previously from $165.00) on shares of Incyte Corporation in a research note on Monday, April 17th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Incyte Corporation presently has a consensus rating of “Buy” and a consensus target price of $141.30.
Incyte Corporation (NASDAQ INCY) opened at 135.74 on Tuesday. Incyte Corporation has a 1-year low of $75.52 and a 1-year high of $153.15. The company’s market capitalization is $27.80 billion. The stock’s 50 day moving average is $129.47 and its 200-day moving average is $128.67.
Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.97) by $0.01. The firm had revenue of $384.08 million during the quarter, compared to analysts’ expectations of $359.19 million. Incyte Corporation had a negative net margin of 8.72% and a negative return on equity of 20.09%. Incyte Corporation’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. On average, analysts expect that Incyte Corporation will post ($0.74) earnings per share for the current fiscal year.
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In other Incyte Corporation news, CFO David W. Gryska sold 16,756 shares of Incyte Corporation stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $116.60, for a total transaction of $1,953,749.60. Following the transaction, the chief financial officer now directly owns 35,771 shares of the company’s stock, valued at $4,170,898.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Steven H. Stein sold 6,485 shares of Incyte Corporation stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $131.09, for a total transaction of $850,118.65. Following the transaction, the executive vice president now directly owns 19,356 shares in the company, valued at $2,537,378.04. The disclosure for this sale can be found here. Insiders sold 53,760 shares of company stock worth $6,608,754 over the last three months. Corporate insiders own 17.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of INCY. Exxonmobil Investment Management Inc. TX purchased a new stake in Incyte Corporation during the first quarter worth about $5,229,000. Douglass Winthrop Advisors LLC purchased a new stake in Incyte Corporation during the first quarter worth about $201,000. CT Financial Advisors LLC raised its stake in Incyte Corporation by 4.7% in the first quarter. CT Financial Advisors LLC now owns 10,742 shares of the biopharmaceutical company’s stock worth $1,436,000 after buying an additional 481 shares in the last quarter. Chevy Chase Trust Holdings Inc. purchased a new stake in Incyte Corporation during the first quarter worth about $20,298,000. Finally, Lau Associates LLC raised its stake in Incyte Corporation by 18.8% in the first quarter. Lau Associates LLC now owns 11,392 shares of the biopharmaceutical company’s stock worth $1,523,000 after buying an additional 1,803 shares in the last quarter. Institutional investors own 92.40% of the company’s stock.
Incyte Corporation 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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