Incyte’s (INCY) “Buy” Rating Reiterated at Raymond James Financial

Incyte (NASDAQ:INCY)‘s stock had its “buy” rating reissued by stock analysts at Raymond James Financial in a research note issued to investors on Thursday.

A number of other analysts have also recently commented on INCY. Nomura reiterated a “buy” rating on shares of Incyte in a research note on Thursday, February 1st. Credit Suisse Group set a $145.00 price target on shares of Incyte and gave the company a “buy” rating in a research note on Wednesday. BidaskClub cut shares of Incyte from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 1st. Oppenheimer set a $120.00 price target on shares of Incyte and gave the company a “hold” rating in a research note on Tuesday, January 2nd. Finally, TheStreet cut shares of Incyte from a “c-” rating to a “d+” rating in a research note on Tuesday, December 5th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $142.94.

Incyte (NASDAQ INCY) opened at $86.03 on Thursday. Incyte has a 12-month low of $80.85 and a 12-month high of $153.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.94 and a quick ratio of 4.81.

Incyte (NASDAQ:INCY) last released its earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.54. The business had revenue of $444.20 million during the quarter, compared to the consensus estimate of $435.23 million. Incyte had a negative net margin of 20.38% and a negative return on equity of 11.85%. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 earnings per share. research analysts expect that Incyte will post 0.07 EPS for the current fiscal year.

In other news, EVP Vijay K. Iyengar sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $97.26, for a total transaction of $486,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David W. Gryska sold 6,760 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $98.87, for a total transaction of $668,361.20. Following the sale, the insider now owns 20,752 shares of the company’s stock, valued at approximately $2,051,750.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,456 shares of company stock valued at $1,222,876. 17.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Financial Gravity Companies Inc. acquired a new stake in Incyte in the 4th quarter worth about $120,000. Private Advisor Group LLC acquired a new stake in Incyte in the 3rd quarter worth about $203,000. Advantage Investment Management LLC raised its stake in Incyte by 1,233.3% in the 4th quarter. Advantage Investment Management LLC now owns 2,000 shares of the biopharmaceutical company’s stock worth $189,000 after purchasing an additional 1,850 shares in the last quarter. Caxton Associates LP acquired a new stake in Incyte in the 3rd quarter worth about $257,000. Finally, Mission Wealth Management LP acquired a new stake in Incyte in the 4th quarter worth about $213,000. Institutional investors and hedge funds own 90.02% of the company’s stock.

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Incyte 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).

Analyst Recommendations for Incyte (NASDAQ:INCY)

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