Incyte Corporation (NASDAQ:INCY) was upgraded by investment analysts at TheStreet from a “c” rating to a “b-” rating in a research note issued on Tuesday.
A number of other equities analysts have also recently issued reports on INCY. RBC Capital Markets set a $113.00 target price on shares of Incyte Corporation and gave the stock a “buy” rating in a report on Monday, October 24th. Leerink Swann reissued an “outperform” rating and issued a $101.00 target price (up previously from $99.00) on shares of Incyte Corporation in a report on Wednesday, November 2nd. J P Morgan Chase & Co reissued a “buy” rating and issued a $101.00 target price on shares of Incyte Corporation in a report on Thursday, November 3rd. Jefferies Group LLC reissued a “buy” rating on shares of Incyte Corporation in a report on Tuesday, November 8th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $126.00 target price (up previously from $121.00) on shares of Incyte Corporation in a report on Saturday, November 19th. One analyst has rated the stock with a sell rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Incyte Corporation currently has a consensus rating of “Buy” and an average target price of $122.31.
Shares of Incyte Corporation (NASDAQ:INCY) traded down 0.19% during midday trading on Tuesday, hitting $119.95. The stock had a trading volume of 500,264 shares. The company has a market cap of $22.62 billion, a P/E ratio of 222.13 and a beta of 0.78. Incyte Corporation has a one year low of $60.30 and a one year high of $125.49. The firm has a 50 day moving average of $116.68 and a 200-day moving average of $97.87.
Incyte Corporation (NASDAQ:INCY) last issued its earnings results on Tuesday, February 14th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.08. Incyte Corporation had a return on equity of 50.38% and a net margin of 14.71%. The business earned $326 million during the quarter, compared to the consensus estimate of $324.90 million. During the same period in the prior year, the business earned $0.29 EPS. The business’s revenue was up 33.9% on a year-over-year basis. On average, analysts forecast that Incyte Corporation will post $0.71 earnings per share for the current fiscal year.
This piece of content was first published by Web Breaking News and is the property of of Web Breaking News. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international copyright legislation. The correct version of this piece of content can be accessed at http://www.webbreakingnews.com/2017/02/17/thestreet-upgrades-incyte-corporation-incy-to-b.html.
In other Incyte Corporation news, EVP Reid M. Huber sold 11,739 shares of Incyte Corporation stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $113.55, for a total value of $1,332,963.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 13.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Walleye Trading LLC purchased a new position in Incyte Corporation during the second quarter worth approximately $120,000. Ladenburg Thalmann Financial Services Inc. raised its position in Incyte Corporation by 1.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,322 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 22 shares in the last quarter. Toronto Dominion Bank raised its position in Incyte Corporation by 57.3% in the third quarter. Toronto Dominion Bank now owns 1,457 shares of the biopharmaceutical company’s stock worth $137,000 after buying an additional 531 shares in the last quarter. Seven Bridges Advisors LLC raised its position in Incyte Corporation by 27.1% in the third quarter. Seven Bridges Advisors LLC now owns 1,867 shares of the biopharmaceutical company’s stock worth $176,000 after buying an additional 398 shares in the last quarter. Finally, Pinnacle Associates Ltd. purchased a new position in Incyte Corporation during the fourth quarter worth approximately $212,000. 92.62% of the stock is owned by hedge funds and other institutional investors.
About Incyte Corporation
Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK).
Receive News & Ratings for Incyte Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corporation and related companies with MarketBeat.com's FREE daily email newsletter.