Several other research firms have also recently weighed in on INCY. Oppenheimer Holdings, Inc. reaffirmed a hold rating and set a $135.00 price objective on shares of Incyte Corporation in a research report on Thursday, August 31st. BMO Capital Markets reaffirmed a buy rating and set a $172.00 price objective on shares of Incyte Corporation in a research report on Friday, July 21st. Barclays PLC reaffirmed an overweight rating and set a $165.00 price objective (down from $180.00) on shares of Incyte Corporation in a research report on Wednesday, August 2nd. Royal Bank Of Canada initiated coverage on Incyte Corporation in a research report on Thursday, September 14th. They set a sector perform rating and a $136.00 price objective for the company. Finally, Raymond James Financial, Inc. raised Incyte Corporation from a market perform rating to an outperform rating and set a $159.00 price objective for the company in a research report on Monday, September 11th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $144.84.
Shares of Incyte Corporation (NASDAQ INCY) opened at 113.99 on Friday. The stock’s market capitalization is $23.45 billion. Incyte Corporation has a 1-year low of $83.01 and a 1-year high of $153.15. The stock’s 50 day moving average price is $121.18 and its 200-day moving average price is $126.82.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $326.40 million for the quarter, compared to analyst estimates of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The firm’s quarterly revenue was up 32.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. Equities research analysts anticipate that Incyte Corporation will post ($0.83) EPS for the current fiscal year.
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In other news, Director Bros. Advisors Lp Baker bought 100,000 shares of the stock in a transaction dated Friday, September 8th. The shares were bought at an average price of $132.00 per share, for a total transaction of $13,200,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Herve Hoppenot sold 70,502 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $119.45, for a total value of $8,421,463.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,452 shares of company stock worth $13,707,134. 17.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its stake in shares of Incyte Corporation by 9.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 27,147 shares of the biopharmaceutical company’s stock worth $3,418,000 after purchasing an additional 2,455 shares during the period. Pinebridge Investments L.P. increased its stake in shares of Incyte Corporation by 122.0% during the second quarter. Pinebridge Investments L.P. now owns 74,590 shares of the biopharmaceutical company’s stock worth $9,392,000 after purchasing an additional 40,992 shares during the period. Calamos Advisors LLC increased its stake in shares of Incyte Corporation by 37.7% during the second quarter. Calamos Advisors LLC now owns 113,132 shares of the biopharmaceutical company’s stock worth $14,244,000 after purchasing an additional 30,990 shares during the period. Legal & General Group Plc increased its stake in shares of Incyte Corporation by 11.5% during the first quarter. Legal & General Group Plc now owns 738,591 shares of the biopharmaceutical company’s stock worth $98,727,000 after purchasing an additional 76,447 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Incyte Corporation by 23.3% during the second quarter. Pacer Advisors Inc. now owns 7,111 shares of the biopharmaceutical company’s stock worth $895,000 after purchasing an additional 1,345 shares during the period. Institutional investors own 88.91% of the company’s stock.
Incyte Corporation Company Profile
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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