Incyte Corporation (INCY) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 113 from a previous price target of $106 . RBC Capital Mkts advised their investors in a research report released on Oct 12, 2016.
Many Wall Street Analysts have commented on Incyte Corporation. Incyte Corporation was Upgraded by Raymond James to ” Outperform” on Sep 29, 2016. 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 .
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 closed down -3.84 points or -4.00% at $92.11 with 19,38,127 shares getting traded on Tuesday. Post opening the session at $95.41, the shares hit an intraday low of $89.8 and an intraday high of $96.345 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Oct 11, 2016, Reid M Huber (EVP, Chief Scientific Officer) sold 11,709 shares at $96.40 per share price. According to the SEC, on Oct 11, 2016, Barry P Flannelly (EVP & General Manager US) sold 24,204 shares at $97.00 per share price. On Sep 26, 2016, Paula J Swain (EVP, Human Resources) sold 20,000 shares at $90.00 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