The stock of Incyte Corporation (NASDAQ:INCY) is a huge mover today! About 678,352 shares traded hands. Incyte Corporation (NASDAQ:INCY) has risen 32.08% since March 15, 2016 and is uptrending. It has outperformed by 26.60% the S&P500.
The move comes after 8 months positive chart setup for the $16.62B company. It was reported on Oct, 18 by Barchart.com. We have $142.11 PT which if reached, will make NASDAQ:INCY worth $9.97B more.
Analysts await Incyte Corporation (NASDAQ:INCY) to report earnings on November, 1. They expect $-0.03 earnings per share, up 86.36% or $0.19 from last year’s $-0.22 per share. After $0.18 actual earnings per share reported by Incyte Corporation for the previous quarter, Wall Street now forecasts -116.67% negative EPS growth.
Incyte Corporation (NASDAQ:INCY) Ratings Coverage
Out of 19 analysts covering Incyte (NASDAQ:INCY), 17 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 89% are positive. Incyte has been the topic of 39 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Morgan Stanley initiated Incyte Corporation (NASDAQ:INCY) on Wednesday, March 23 with “Overweight” rating. The stock has “Buy” rating given by Brean Capital on Wednesday, September 2. The stock has “Overweight” rating given by Barclays Capital on Wednesday, August 10. The stock of Incyte Corporation (NASDAQ:INCY) earned “Buy” rating by UBS on Wednesday, November 4. The stock of Incyte Corporation (NASDAQ:INCY) earned “Overweight” rating by Piper Jaffray on Tuesday, August 18. On Thursday, September 29 the stock rating was upgraded by Raymond James to “Outperform”. The stock of Incyte Corporation (NASDAQ:INCY) has “Outperform” rating given on Friday, February 12 by Oppenheimer. The company was initiated on Friday, August 5 by Suntrust Robinson. The stock of Incyte Corporation (NASDAQ:INCY) earned “Hold” rating by Vetr on Monday, September 7. The firm has “Outperform” rating given on Thursday, November 12 by Leerink Swann.
According to Zacks Investment Research, “Incyte Corp is a drug discovery company that is using its expertise in genomics, medicinal chemistry and molecular, cellular and in vivo biology to discover and develop novel therapeutics. The company has three fully-staffed drug discovery programs underway focused primarily on the identification of new small molecule drugs for cancer and inflammation. Incyte also has strategic alliances with Lexicon Genetics and Medarex focused on the discovery and development of protein therapeutics or antibodies to treat inflammatory diseases and cancer.”
Insitutional Activity: The institutional sentiment increased to 1.19 in Q2 2016. Its up 0.26, from 0.93 in 2016Q1. The ratio is positive, as 32 funds sold all Incyte Corporation shares owned while 116 reduced positions. 45 funds bought stakes while 131 increased positions. They now own 172.01 million shares or 5.11% less from 181.27 million shares in 2016Q1.
Glenmede Com Na holds 477 shares or 0% of its portfolio. Shinko Asset Communication Limited holds 0% or 454 shares in its portfolio. The Illinois-based Driehaus Cap Management Ltd Liability has invested 0.02% in Incyte Corporation (NASDAQ:INCY). Employees Retirement Systems Of Texas last reported 0.06% of its portfolio in the stock. Westpac Bk last reported 9,681 shares in the company. Blackrock Management Limited accumulated 92,144 shares or 0.01% of the stock. The New York-based Gotham Asset Management Lc has invested 0.14% in Incyte Corporation (NASDAQ:INCY). Checchi Advisers Ltd Liability Company accumulated 0.01% or 1,522 shares. Legal General Gp Public Ltd holds 0.06% or 672,189 shares in its portfolio. Royal Savings Bank Of Canada, a Ontario – Canada-based fund reported 482,348 shares. Rafferty Asset Mngmt Lc accumulated 7,623 shares or 0.04% of the stock. World Asset Mngmt accumulated 4,128 shares or 0.01% of the stock. Redmile Llc accumulated 2.31% or 302,307 shares. The Pennsylvania-based Emerald Advisers Pa has invested 0.08% in Incyte Corporation (NASDAQ:INCY). Tcw Group Incorporated holds 0.02% or 29,509 shares in its portfolio.
Insider Transactions: Since July 29, 2016, the stock had 0 insider buys, and 5 insider sales for $11.56 million net activity. $1.13 million worth of Incyte Corporation (NASDAQ:INCY) was sold by Huber Reid M. Shares for $2.35M were sold by Flannelly Barry P on Friday, October 7. 20,000 shares with value of $1.80M were sold by SWAIN PAULA J on Friday, September 23.
Another recent and important Incyte Corporation (NASDAQ:INCY) news was published by Businesswire.com which published an article titled: “Updated Phase 1 Data Reinforce the Clinical Profile of Epacadostat in …” on September 28, 2016.
INCY Company Profile
Incyte Corporation, incorporated on April 8, 1991, is a biopharmaceutical company. The Firm is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Firm focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK). The Company’s pipeline includes compounds in various stages, ranging from preclinical to late stage development, and a commercialized product, JAKAFI (ruxolitinib). The Firm has discovered multiple potent, selective and orally bioavailable JAK inhibitors that are selective for JAK1 or JAK1 and JAK2. JAKAFI is the compound in its JAK program, which is an oral JAK1 and JAK2 inhibitor. JAKAFI orphan drug is indicated for Myelofibrosis (MF), Polycythemia Vera (PV) and essential thrombocythemia.
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