Today Piper Jaffray Maintains a Buy Rating on Incyte Corp (NASDAQ:INCY) and a $85.0000 Target Price

June 20, 2018 - By Ash

Incyte Corporation (NASDAQ:INCY) Logo

Investors sentiment increased to 1.22 in Q1 2018. Its up 0.16, from 1.06 in 2017Q4. It improved, as 45 investors sold Incyte Corporation shares while 131 reduced holdings. 57 funds opened positions while 157 raised stakes. 190.28 million shares or 0.76% less from 191.73 million shares in 2017Q4 were reported.

Vident Advisory Ltd stated it has 0.06% in Incyte Corporation (NASDAQ:INCY). Guardian Life Insurance Com Of America has invested 0.01% in Incyte Corporation (NASDAQ:INCY). Gabelli Funds Ltd Liability accumulated 0.02% or 43,850 shares. Gabelli Co Inv Advisers holds 0.18% of its portfolio in Incyte Corporation (NASDAQ:INCY) for 16,900 shares. Chevy Chase Hldgs has invested 0.05% in Incyte Corporation (NASDAQ:INCY). Jennison Assoc Ltd Llc accumulated 944,420 shares or 0.08% of the stock. Guardian Company reported 1.09M shares stake. Baker Bros Advsrs L P owns 24.18% invested in Incyte Corporation (NASDAQ:INCY) for 34.23 million shares. The Alaska-based State Of Alaska Department Of Revenue has invested 0.04% in Incyte Corporation (NASDAQ:INCY). 3,209 were reported by Greenwood Capital Assocs Ltd. Alliancebernstein Ltd Partnership reported 0.02% stake. Calamos Lc accumulated 0.01% or 23,047 shares. Piedmont Investment Advsr Lc accumulated 4,337 shares. Da Davidson & holds 0.02% or 9,044 shares. Waddell Reed reported 218,080 shares or 0.04% of all its holdings.

Since January 5, 2018, it had 1 buying transaction, and 4 selling transactions for $5.08 million activity. 1,958 shares were sold by Huber Reid M, worth $167,507 on Tuesday, February 20. GRYSKA DAVID W sold $668,361 worth of stock. 80,000 shares were sold by SWAIN PAULA J, worth $4.99 million.

Incyte Corp (NASDAQ:INCY) Rating Reaffirmed

New York: In an analyst note revealed to clients and investors on 15 June, Piper Jaffray kept their Buy rating on Incyte Corp (NASDAQ:INCY) shares. They now have a $85.0000 price target on the company. Piper Jaffray’s target would suggest a potential upside of 16.47 % from the company’s current stock price.

Incyte Corporation (NASDAQ:INCY) Ratings Coverage

Among 16 analysts covering Incyte (NASDAQ:INCY), 12 have Buy rating, 0 Sell and 4 Hold. Therefore 75% are positive. Incyte has $175.0 highest and $6500 lowest target. $103.17’s average target is 41.37% above currents $72.98 stock price. Incyte had 21 analyst reports since January 2, 2018 according to SRatingsIntel. The company was maintained on Thursday, April 5 by Barclays Capital. On Thursday, April 12 the stock rating was upgraded by UBS to “Buy”. The firm has “Buy” rating given on Thursday, February 15 by BMO Capital Markets. The rating was maintained by JP Morgan on Monday, April 9 with “Overweight”. The firm has “Buy” rating given on Monday, April 23 by SunTrust. William Blair downgraded Incyte Corporation (NASDAQ:INCY) on Friday, April 6 to “Market Perform” rating. The stock of Incyte Corporation (NASDAQ:INCY) has “Hold” rating given on Monday, April 9 by Gabelli. The company was initiated on Wednesday, May 30 by Piper Jaffray. The firm has “Buy” rating by SunTrust given on Friday, April 6. RBC Capital Markets upgraded the stock to “Outperform” rating in Tuesday, January 2 report.

The stock increased 1.33% or $0.96 during the last trading session, reaching $72.98. About 2.57 million shares traded. Incyte Corporation (NASDAQ:INCY) has declined 50.56% since June 20, 2017 and is downtrending. It has underperformed by 63.13% the S&P500.

Analysts await Incyte Corporation (NASDAQ:INCY) to report earnings on August, 7. They expect $-0.06 earnings per share, 0.00 % or $0.00 from last year’s $-0.06 per share. After $-0.18 actual earnings per share reported by Incyte Corporation for the previous quarter, Wall Street now forecasts -66.67 % EPS growth.

Incyte Corporation focuses on the discovery, development, and commercialization of proprietary therapeutics in oncology in the United States and internationally. The company has market cap of $15.47 billion. It offers JAKAFI for the treatment of myelofibrosis and polycythemia vera cancers. It currently has negative earnings. The companyÂ’s clinical stage products include ruxolitinib cream that is in Phase II clinical trial for the treatment of alopecia areata and atopic dermatitis; and baricitinib, which is in Phase III clinical trial for treatment of rheumatoid arthritis.

More news for Incyte Corporation (NASDAQ:INCY) were recently published by: Benzinga.com, which released: “The Week Ahead: Pharma IPOs Galore, Blackberry Earnings And More” on June 18, 2018. Seekingalpha.com‘s article titled: “Best And Worst Performing Nasdaq 100 Stocks Of 2018” and published on May 25, 2018 is yet another important article.

Incyte Corporation (NASDAQ:INCY) Institutional Positions Chart

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