Incyte Corporation (NASDAQ:INCY)‘s stock had its “outperform” rating reaffirmed by investment analysts at BMO Capital Markets in a report issued on Monday, September 11th. They currently have a $163.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $172.00. BMO Capital Markets’ price target suggests a potential upside of 41.68% from the company’s current price.
A number of other research firms have also issued reports on INCY. Oppenheimer Holdings, Inc. reiterated a “hold” rating and set a $135.00 price objective on shares of Incyte Corporation in a research note on Thursday, August 31st. Barclays PLC reiterated an “overweight” rating and set a $165.00 price objective (down previously from $180.00) on shares of Incyte Corporation in a research note on Wednesday, August 2nd. Raymond James Financial, Inc. upgraded shares of Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 price objective on the stock in a research note on Monday, September 11th. J P Morgan Chase & Co reiterated a “buy” rating and set a $149.00 price objective on shares of Incyte Corporation in a research note on Thursday, August 31st. Finally, Jefferies Group LLC restated a “buy” rating and issued a $148.00 price target on shares of Incyte Corporation in a research note on Tuesday, June 20th. Eight equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Incyte Corporation currently has a consensus rating of “Buy” and an average target price of $142.16.
Incyte Corporation (NASDAQ INCY) opened at 115.05 on Monday. Incyte Corporation has a one year low of $83.01 and a one year high of $153.15. The company’s market cap is $23.67 billion. The company has a 50-day moving average of $126.44 and a 200 day moving average of $129.92.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The business had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $318.45 million. During the same quarter in the previous year, the business posted $0.18 EPS. The company’s quarterly revenue was up 32.5% on a year-over-year basis. Analysts anticipate that Incyte Corporation will post ($0.82) earnings per share for the current year.
WARNING: This article was first posted by BBNS and is owned by of BBNS. If you are reading this article on another publication, it was stolen and reposted in violation of US & international copyright and trademark laws. The original version of this article can be accessed at https://baseballnewssource.com/markets/incyte-corporations-incy-outperform-rating-reaffirmed-at-bmo-capital-markets/1634281.html.
In other Incyte Corporation news, insider David W. Gryska sold 599 shares of Incyte Corporation stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $129.74, for a total transaction of $77,714.26. Following the transaction, the insider now owns 19,614 shares of the company’s stock, valued at approximately $2,544,720.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bros. Advisors Lp Baker bought 100,000 shares of the stock in a transaction on Friday, September 8th. The shares were acquired at an average cost of $132.00 per share, for a total transaction of $13,200,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 114,871 shares of company stock worth $14,393,073. Corporate insiders own 17.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in INCY. D. Scott Neal Inc. purchased a new position in Incyte Corporation during the 2nd quarter valued at about $103,000. Tower Research Capital LLC TRC bought a new stake in shares of Incyte Corporation in the 1st quarter valued at approximately $105,000. Cornerstone Advisors Inc. grew its stake in shares of Incyte Corporation by 19.6% in the 2nd quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 145 shares in the last quarter. Exane Asset Management bought a new stake in shares of Incyte Corporation in the 2nd quarter valued at approximately $126,000. Finally, Seven Eight Capital LP bought a new stake in shares of Incyte Corporation in the 2nd quarter valued at approximately $129,000. 88.91% of the stock is currently 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).
Receive News & Ratings for Incyte Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corporation and related companies with our FREE daily email newsletter.