Oppenheimer Holdings, Inc. reissued their hold rating on shares of Incyte Corporation (NASDAQ:INCY) in a report issued on Thursday. The firm currently has a $135.00 price objective on the biopharmaceutical company’s stock.

Several other analysts have also commented on the stock. Morgan Stanley reaffirmed an overweight rating and issued a $142.00 price objective on shares of Incyte Corporation in a research report on Friday, May 19th. Jefferies Group LLC reaffirmed a buy rating and issued a $148.00 price objective on shares of Incyte Corporation in a research report on Thursday, May 18th. Zacks Investment Research raised shares of Incyte Corporation from a sell rating to a hold rating in a research report on Tuesday, May 23rd. Barclays PLC lifted their target price on shares of Incyte Corporation from $135.00 to $185.00 and gave the stock an overweight rating in a research note on Tuesday, July 4th. Finally, TheStreet downgraded shares of Incyte Corporation from a c+ rating to a d+ rating in a research note on Thursday, May 4th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Incyte Corporation currently has a consensus rating of Buy and an average price target of $140.16.

Shares of Incyte Corporation (NASDAQ:INCY) traded up 1.022% on Thursday, reaching $138.815. 815,427 shares of the company were exchanged. The firm’s market capitalization is $28.55 billion. Incyte Corporation has a 12-month low of $77.58 and a 12-month high of $153.15. The company’s 50 day moving average is $129.02 and its 200 day moving average is $129.88.

Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.01. The company had revenue of $326.40 million during the quarter, compared to the consensus estimate of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The business’s revenue was up 32.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS. Analysts forecast that Incyte Corporation will post ($0.86) earnings per share for the current year.

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In other news, insider David W. Gryska sold 599 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $129.74, for a total value of $77,714.26. Following the completion of the sale, the insider now directly owns 19,614 shares in the company, valued at approximately $2,544,720.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David W. Gryska sold 16,756 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $116.60, for a total transaction of $1,953,749.60. Following the completion of the sale, the chief financial officer now owns 35,771 shares of the company’s stock, valued at $4,170,898.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,474 shares of company stock valued at $6,004,221. Company insiders own 17.70% of the company’s stock.

Several large investors have recently made changes to their positions in the company. D. Scott Neal Inc. acquired a new stake in shares of Incyte Corporation during the second quarter worth $103,000. Tower Research Capital LLC TRC purchased a new stake in Incyte Corporation during the first quarter worth approximately $105,000. Cornerstone Advisors Inc. raised its stake in Incyte Corporation by 19.6% in the second quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 145 shares in the last quarter. Exane Asset Management purchased a new stake in Incyte Corporation during the second quarter worth approximately $126,000. Finally, Seven Eight Capital LP purchased a new stake in Incyte Corporation during the second quarter worth approximately $129,000. Hedge funds and other institutional investors own 91.04% 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).

Analyst Recommendations for Incyte Corporation (NASDAQ:INCY)

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