Stock analysts at Goldman Sachs Group, Inc. (The) began coverage on shares of Incyte Corporation (NASDAQ:INCY) in a research note issued on Friday. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.

A number of other research analysts have also recently issued reports on INCY. Credit Suisse Group AG reiterated a “buy” rating on shares of Incyte Corporation in a report on Saturday, June 10th. Jefferies Group LLC reiterated a “buy” rating and set a $148.00 price objective on shares of Incyte Corporation in a report on Tuesday, June 20th. BidaskClub upgraded shares of Incyte Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Gabelli reiterated a “buy” rating and set a $174.00 price objective on shares of Incyte Corporation in a report on Wednesday, June 28th. Finally, Cowen and Company restated an “outperform” rating and set a $130.00 price target on shares of Incyte Corporation in a report on Monday, July 3rd. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $143.75.

Incyte Corporation (NASDAQ:INCY) traded up 2.06% during trading on Friday, hitting $115.91. 309,728 shares of the stock were exchanged. Incyte Corporation has a 52 week low of $83.01 and a 52 week high of $153.15. The firm’s 50-day moving average is $121.58 and its 200 day moving average is $127.44. The firm’s market cap is $23.84 billion.

Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $326.40 million for the quarter, compared to analyst estimates of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The firm’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 earnings per share. Analysts expect that Incyte Corporation will post ($0.83) earnings per share for the current fiscal year.

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In other news, EVP Steven H. Stein sold 6,485 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $131.09, for a total value of $850,118.65. Following the sale, the executive vice president now owns 19,356 shares of the company’s stock, valued at $2,537,378.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 714 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $124.25, for a total transaction of $88,714.50. Following the completion of the sale, the executive vice president now directly owns 15,496 shares in the company, valued at approximately $1,925,378. The disclosure for this sale can be found here. In the last three months, insiders sold 109,452 shares of company stock worth $13,707,134. Insiders own 17.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its position in shares of Incyte Corporation by 9.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 27,147 shares of the biopharmaceutical company’s stock valued at $3,418,000 after purchasing an additional 2,455 shares during the period. Pinebridge Investments L.P. raised its position in shares of Incyte Corporation by 122.0% in the second quarter. Pinebridge Investments L.P. now owns 74,590 shares of the biopharmaceutical company’s stock valued at $9,392,000 after purchasing an additional 40,992 shares during the period. Calamos Advisors LLC raised its position in shares of Incyte Corporation by 37.7% in the second quarter. Calamos Advisors LLC now owns 113,132 shares of the biopharmaceutical company’s stock valued at $14,244,000 after purchasing an additional 30,990 shares during the period. Legal & General Group Plc raised its position in shares of Incyte Corporation by 11.5% in the first quarter. Legal & General Group Plc now owns 738,591 shares of the biopharmaceutical company’s stock valued at $98,727,000 after purchasing an additional 76,447 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Incyte Corporation by 23.3% in the second quarter. Pacer Advisors Inc. now owns 7,111 shares of the biopharmaceutical company’s stock valued at $895,000 after purchasing an additional 1,345 shares during the period. 88.91% of the stock is currently owned by institutional investors.

About Incyte Corporation

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).

Analyst Recommendations for Incyte Corporation (NASDAQ:INCY)

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