Incyte Corporation (INCY) Earns “Buy” Rating from Jefferies Group LLC

Jefferies Group LLC restated their buy rating on shares of Incyte Corporation (NASDAQ:INCY) in a research note issued to investors on Friday morning.

Several other research analysts also recently weighed in on the company. Royal Bank Of Canada started coverage on Incyte Corporation in a research note on Thursday, September 14th. They set a sector perform rating and a $136.00 target price on the stock. Argus restated a buy rating and set a $150.00 target price on shares of Incyte Corporation in a research note on Wednesday, September 13th. Oppenheimer Holdings, Inc. restated a hold rating and set a $135.00 target price on shares of Incyte Corporation in a research note on Sunday, September 10th. BMO Capital Markets restated an outperform rating and set a $163.00 target price (down from $172.00) on shares of Incyte Corporation in a research note on Monday, September 11th. Finally, Raymond James Financial, Inc. upgraded Incyte Corporation from a market perform rating to an outperform rating and set a $159.00 target price on the stock in a research note on Monday, September 11th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Incyte Corporation currently has a consensus rating of Buy and a consensus price target of $144.84.

Shares of Incyte Corporation (NASDAQ:INCY) opened at 114.70 on Friday. The stock has a 50 day moving average price of $121.38 and a 200-day moving average price of $127.20. The stock’s market capitalization is $23.59 billion. Incyte Corporation has a 1-year low of $83.01 and a 1-year high of $153.15.

Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $318.45 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. The company’s revenue was up 32.5% compared to the same quarter last year. On average, analysts forecast that Incyte Corporation will post ($0.83) earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Incyte Corporation (INCY) Earns “Buy” Rating from Jefferies Group LLC” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this report can be viewed at https://ledgergazette.com/2017/10/09/incyte-corporation-incy-earns-buy-rating-from-jefferies-group-llc.html.

In related news, Director Bros. Advisors Lp Baker acquired 100,000 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was acquired at an average price of $132.00 per share, with a total value of $13,200,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Steven H. Stein sold 6,485 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $131.09, for a total value of $850,118.65. Following the completion of the transaction, the executive vice president now directly owns 19,356 shares of the company’s stock, valued at approximately $2,537,378.04. 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. Company insiders own 17.70% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of Incyte Corporation by 9.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 27,147 shares of the biopharmaceutical company’s stock valued at $3,418,000 after buying an additional 2,455 shares during the period. Pinebridge Investments L.P. lifted its holdings in shares of Incyte Corporation by 122.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 74,590 shares of the biopharmaceutical company’s stock valued at $9,392,000 after buying an additional 40,992 shares during the period. Calamos Advisors LLC lifted its holdings in shares of Incyte Corporation by 37.7% in the 2nd quarter. Calamos Advisors LLC now owns 113,132 shares of the biopharmaceutical company’s stock valued at $14,244,000 after buying an additional 30,990 shares during the period. Legal & General Group Plc lifted its holdings in shares of Incyte Corporation by 11.5% in the 1st quarter. Legal & General Group Plc now owns 738,591 shares of the biopharmaceutical company’s stock valued at $98,727,000 after buying an additional 76,447 shares during the period. Finally, Pacer Advisors In

Several other research analysts also recently weighed in on the company. Royal Bank Of Canada started coverage on Incyte Corporation in a research note on Thursday, September 14th. They set a sector perform rating and a $136.00 target price on the stock. Argus restated a buy rating and set a $150.00 target price on shares of Incyte Corporation in a research note on Wednesday, September 13th. Oppenheimer Holdings, Inc. restated a hold rating and set a $135.00 target price on shares of Incyte Corporation in a research note on Sunday, September 10th. BMO Capital Markets restated an outperform rating and set a $163.00 target price (down from $172.00) on shares of Incyte Corporation in a research note on Monday, September 11th. Finally, Raymond James Financial, Inc. upgraded Incyte Corporation from a market perform rating to an outperform rating and set a $159.00 target price on the stock in a research note on Monday, September 11th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Incyte Corporation currently has a consensus rating of Buy and a consensus price target of $144.84.

Shares of Incyte Corporation (NASDAQ:INCY) opened at 114.70 on Friday. The stock has a 50 day moving average price of $121.38 and a 200-day moving average price of $127.20. The stock’s market capitalization is $23.59 billion. Incyte Corporation has a 1-year low of $83.01 and a 1-year high of $153.15.

Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $318.45 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. The company’s revenue was up 32.5% compared to the same quarter last year. On average, analysts forecast that Incyte Corporation will post ($0.83) earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Incyte Corporation (INCY) Earns “Buy” Rating from Jefferies Group LLC” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this report can be viewed at https://ledgergazette.com/2017/10/09/incyte-corporation-incy-earns-buy-rating-from-jefferies-group-llc.html.

In related news, Director Bros. Advisors Lp Baker acquired 100,000 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was acquired at an average price of $132.00 per share, with a total value of $13,200,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Steven H. Stein sold 6,485 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $131.09, for a total value of $850,118.65. Following the completion of the transaction, the executive vice president now directly owns 19,356 shares of the company’s stock, valued at approximately $2,537,378.04. 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. Company insiders own 17.70% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of Incyte Corporation by 9.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 27,147 shares of the biopharmaceutical company’s stock valued at $3,418,000 after buying an additional 2,455 shares during the period. Pinebridge Investments L.P. lifted its holdings in shares of Incyte Corporation by 122.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 74,590 shares of the biopharmaceutical company’s stock valued at $9,392,000 after buying an additional 40,992 shares during the period. Calamos Advisors LLC lifted its holdings in shares of Incyte Corporation by 37.7% in the 2nd quarter. Calamos Advisors LLC now owns 113,132 shares of the biopharmaceutical company’s stock valued at $14,244,000 after buying an additional 30,990 shares during the period. Legal & General Group Plc lifted its holdings in shares of Incyte Corporation by 11.5% in the 1st quarter. Legal & General Group Plc now owns 738,591 shares of the biopharmaceutical company’s stock valued at $98,727,000 after buying an additional 76,447 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Incyte Corporation by 23.3% in the 2nd quarter. Pacer Advisors Inc. now owns 7,111 shares of the biopharmaceutical company’s stock valued at $895,000 after buying an additional 1,345 shares during the period. 88.91% of the stock is owned by institutional investors and hedge funds.

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).

Analyst Recommendations for Incyte Corporation (NASDAQ:INCY)

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