Incyte Corporation (NASDAQ:INCY) had its price target boosted by stock analysts at BMO Capital Markets from $162.00 to $166.00 in a research report issued on Tuesday, October 31st. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 57.39% from the stock’s current price.
Several other equities analysts have also commented on INCY. J P Morgan Chase & Co set a $149.00 price objective on Incyte Corporation and gave the company a “buy” rating in a research report on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and set a $148.00 price objective on shares of Incyte Corporation in a research report on Thursday, July 27th. Cowen and Company reissued an “outperform” rating and set a $130.00 price objective on shares of Incyte Corporation in a research report on Monday, July 3rd. Royal Bank Of Canada started 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, Credit Suisse Group set a $152.00 price objective on Incyte Corporation and gave the company a “buy” rating in a research report on Sunday, July 16th. Seven research 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 has a consensus rating of “Buy” and an average price target of $144.98.
Shares of Incyte Corporation (INCY) opened at $105.47 on Tuesday. Incyte Corporation has a 52 week low of $98.49 and a 52 week high of $153.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.82 and a quick ratio of 4.81.
Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. Incyte Corporation had a negative return on equity of 12.91% and a negative net margin of 10.90%. The company had revenue of $381.50 million during the quarter, compared to analyst estimates of $360.34 million. During the same quarter last year, the firm posted $0.19 earnings per share. The firm’s revenue was up 41.6% on a year-over-year basis. research analysts predict that Incyte Corporation will post -1.33 EPS for the current fiscal year.
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In other Incyte Corporation news, EVP Paula J. Swain sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $140.00, for a total transaction of $2,800,000.00. Following the completion of the sale, the executive vice president now directly owns 55,067 shares in the company, valued at approximately $7,709,380. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Steven H. Stein sold 2,111 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $125.00, for a total value of $263,875.00. Following the sale, the executive vice president now owns 18,687 shares of the company’s stock, valued at $2,335,875. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,062 shares of company stock valued at $12,652,893. Corporate insiders own 17.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of INCY. Vanguard Group Inc. lifted its position in shares of Incyte Corporation by 11.1% during the 2nd quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock valued at $2,156,276,000 after buying an additional 1,709,685 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Incyte Corporation during the 3rd quarter worth approximately $125,065,000. Janus Henderson Group PLC raised its holdings in shares of Incyte Corporation by 4,570.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock worth $131,622,000 after acquiring an additional 1,022,979 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its holdings in shares of Incyte Corporation by 374.4% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock worth $108,605,000 after acquiring an additional 734,235 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Incyte Corporation by 64.1% during the 2nd quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock worth $165,443,000 after acquiring an additional 513,423 shares in the last quarter. 89.60% of the stock is currently owned by hedge funds and other 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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