Incyte (INCY) Now Covered by Guggenheim

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Analysts at Guggenheim assumed coverage on shares of Incyte (NASDAQ:INCY) in a research report issued on Monday, September 17th, The Fly reports. The brokerage set a “neutral” rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Incyte in a report on Saturday, September 15th. Oppenheimer set a $70.00 price target on Incyte and gave the stock a “hold” rating in a report on Thursday, September 13th. BidaskClub downgraded Incyte from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 11th. Cowen reissued a “buy” rating on shares of Incyte in a research report on Tuesday, September 4th. Finally, Argus set a $83.00 price objective on Incyte and gave the stock a “buy” rating in a research report on Thursday, August 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $94.43.

Shares of NASDAQ INCY traded up $0.81 during midday trading on Monday, hitting $62.56. 1,671,986 shares of the stock traded hands, compared to its average volume of 1,942,822. The company has a market cap of $14.68 billion, a price-to-earnings ratio of 97.75 and a beta of 1.12. Incyte has a one year low of $60.22 and a one year high of $117.95. The company has a quick ratio of 4.32, a current ratio of 4.34 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.22. Incyte had a positive return on equity of 1.74% and a negative net margin of 5.92%. The firm had revenue of $521.50 million during the quarter, compared to the consensus estimate of $510.70 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 59.8% on a year-over-year basis. On average, equities research analysts anticipate that Incyte will post 0.43 earnings per share for the current year.

In other news, EVP Barry P. Flannelly sold 1,000 shares of the company’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Paula J. Swain sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $70.00, for a total value of $700,000.00. Following the transaction, the executive vice president now directly owns 42,324 shares in the company, valued at approximately $2,962,680. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock worth $2,202,100 in the last ninety days. Insiders own 17.20% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of INCY. Rockefeller Capital Management L.P. purchased a new stake in Incyte during the 1st quarter worth about $106,000. Resources Investment Advisors Inc. increased its stake in Incyte by 93.8% in the 2nd quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 841 shares during the last quarter. Assetmark Inc. increased its stake in Incyte by 221.5% in the 1st quarter. Assetmark Inc. now owns 1,405 shares of the biopharmaceutical company’s stock worth $117,000 after acquiring an additional 968 shares during the last quarter. Blackhawk Capital Partners LLC. increased its stake in Incyte by 162.5% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 1,575 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 975 shares during the last quarter. Finally, Optimum Investment Advisors bought a new position in Incyte in the 1st quarter worth about $142,000. 91.57% of the stock is currently owned by institutional investors and hedge funds.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Analyst Recommendations for Incyte (NASDAQ:INCY)

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