Incyte Corporation (NASDAQ:INCY) had its price target upped by investment analysts at BMO Capital Markets from $162.00 to $166.00 in a research note issued on Tuesday, October 31st. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective points to a potential upside of 58.46% from the company’s previous close.
INCY has been the topic of several other reports. Oppenheimer Holdings, Inc. reissued a “hold” rating and issued a $135.00 target price on shares of Incyte Corporation in a research report on Sunday, September 10th. Jefferies Group LLC reissued a “buy” rating and issued a $148.00 target price on shares of Incyte Corporation in a research report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Incyte Corporation in a research report on Friday, October 6th. They issued a “buy” rating and a $160.00 target price on the stock. Credit Suisse Group set a $152.00 price target on shares of Incyte Corporation and gave the company a “buy” rating in a research report on Sunday, July 16th. Finally, Evercore ISI assumed coverage on shares of Incyte Corporation in a research report on Wednesday, August 16th. They set an “in-line” rating and a $135.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Incyte Corporation presently has a consensus rating of “Buy” and an average price target of $144.98.
Shares of Incyte Corporation (INCY) traded up $1.77 during midday trading on Tuesday, hitting $104.76. 2,972,500 shares of the stock were exchanged, compared to its average volume of 1,943,709. Incyte Corporation has a 1-year low of $98.49 and a 1-year high of $153.15. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01.
Incyte Corporation (NASDAQ:INCY) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.11. Incyte Corporation had a negative net margin of 10.90% and a negative return on equity of 12.91%. The business had revenue of $381.50 million for the quarter, compared to analysts’ expectations of $360.34 million. During the same period last year, the company earned $0.19 earnings per share. The company’s quarterly revenue was up 41.6% on a year-over-year basis. research analysts predict that Incyte Corporation will post -1.3 earnings per share for the current fiscal year.
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In other news, insider David W. Gryska sold 3,915 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $105.63, for a total transaction of $413,541.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bros. Advisors Lp Baker purchased 100,000 shares of Incyte Corporation stock in a transaction dated Friday, September 8th. The shares were purchased at an average cost of $132.00 per share, with a total value of $13,200,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 102,062 shares of company stock valued at $12,652,893. 17.70% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Incyte Corporation by 11.1% in the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock worth $2,156,276,000 after purchasing an additional 1,709,685 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Incyte Corporation in the third quarter worth about $125,065,000. Janus Henderson Group PLC lifted its holdings in Incyte Corporation by 4,570.1% in the second quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock worth $131,622,000 after purchasing an additional 1,022,979 shares during the period. Old Mutual Global Investors UK Ltd. lifted its holdings in Incyte Corporation by 374.4% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock worth $108,605,000 after purchasing an additional 734,235 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Incyte Corporation by 64.1% in the second quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock worth $165,443,000 after purchasing an additional 513,423 shares during the period. 89.53% of the stock is owned by institutional investors.
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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