Incyte Corporation (INCY) was Upgraded by Raymond James to ” Outperform”. Earlier the firm had a rating of “Mkt Perform ” on the company shares. Raymond James advised their investors in a research report released on Sep 29, 2016.
Many Wall Street Analysts have commented on Incyte Corporation. Company shares were Reiterated by Barclays on Aug 10, 2016 to “Overweight”, Firm has raised the Price Target to $ 100 from a previous price target of $85 .Company shares were Reiterated by Leerink Partners on Aug 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 95 from a previous price target of $85 .Incyte Corporation was Initiated by SunTrust to “Buy” on Aug 5, 2016.
On the company’s financial health, Incyte Corporation reported $0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.02. The company had revenue of $246.30 million for the quarter, compared to analysts expectations of $232.33 million. The company’s revenue was up 51.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.
Incyte Corporation opened for trading at $88.56 and hit $89.24 on the upside on Tuesday, eventually ending the session at $89.07, with a gain of 0.35% or 0.31 points. The heightened volatility saw the trading volume jump to 12,19,571 shares. Company has a market cap of $16,745 M.
In a different news, on Sep 26, 2016, Paula J Swain (EVP, Human Resources) sold 20,000 shares at $90.00 per share price. According to the SEC, on Aug 2, 2016, Reid M Huber (EVP, Chief Scientific Officer) sold 10,000 shares at $87.96 per share price. On Jan 8, 2016, Richard S Levy (EVP, Chief Drug Dev Officer) sold 3,937 shares at $101.86 per share price, according to the Form-4 filing with the securities and exchange commission.
Incyte Corporation is a biopharmaceutical company focused on the discovery development and commercialization of small molecule drugs to treat serious unmet medical needs. The Company’s compound JAKAFI (ruxolitinib) also known as INCB18424 and INC424 is an oral Janus associated kinase (JAK) inhibitor used for the treatment for patients with intermediate or highrisk myelofibrosis (MF) including primary MF postpolycythemia vera MF and postessential thrombocythemia MF. The Company has a second oral JAK1 and JAK2 inhibitor LY3009104 (INCB28050) which is subject to a collaboration agreement with Eli Lilly and Company in which Lilly received development and commercialization rights f