J P Morgan Chase & Co Reiterates $149.00 Price Target for Incyte Corporation (INCY)

J P Morgan Chase & Co set a $149.00 target price on Incyte Corporation (NASDAQ:INCY) in a research note published on Tuesday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently weighed in on INCY. UBS AG downgraded shares of Incyte Corporation from an outperform rating to a market perform rating in a research note on Wednesday, April 5th. Barclays PLC set a $135.00 target price on shares of Incyte Corporation and gave the stock a buy rating in a research note on Saturday, April 8th. Raymond James Financial, Inc. downgraded shares of Incyte Corporation from an outperform rating to a hold rating in a research note on Thursday, April 6th. Cowen and Company reiterated an outperform rating and issued a $130.00 target price on shares of Incyte Corporation in a research note on Monday, July 3rd. Finally, Credit Suisse Group reiterated a buy rating on shares of Incyte Corporation in a research note on Saturday, June 10th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Incyte Corporation presently has a consensus rating of Buy and an average target price of $140.39.

Incyte Corporation (INCY) traded up 2.16% during mid-day trading on Tuesday, reaching $128.70. 872,485 shares of the company’s stock were exchanged. The stock’s market cap is $26.47 billion. The company has a 50-day moving average of $130.23 and a 200-day moving average of $129.04. Incyte Corporation has a 52-week low of $75.52 and a 52-week high of $153.15.

Incyte Corporation (NASDAQ:INCY) last posted its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.01. The business had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. Incyte Corporation’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. Equities research analysts anticipate that Incyte Corporation will post ($0.77) earnings per share for the current year.

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In other Incyte Corporation news, Director Jean Jacques Bienaime acquired 500 shares of the stock in a transaction dated Monday, May 15th. The stock was purchased at an average cost of $115.00 per share, for a total transaction of $57,500.00. Following the acquisition, the director now owns 4,177 shares in the company, valued at approximately $480,355. The acquisition was disclosed in a filing with the SEC, which is accessible through 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 53,760 shares of company stock valued at $6,623,660. 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 acquired a new stake in shares of Incyte Corporation during the first quarter worth $105,000. Cornerstone Advisors Inc. raised its stake in shares of 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 during the last quarter. Exane Asset Management acquired a new stake in shares of Incyte Corporation during the second quarter worth $126,000. Finally, FNY Partners Fund LP raised its stake in shares of Incyte Corporation by 4,825.0% in the first quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 965 shares during the last quarter. Hedge funds and other institutional investors own 92.33% of the company’s stock.

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).