Incyte Corporation (NASDAQ:INCY) had its price objective reduced by BMO Capital Markets from $163.00 to $162.00 in a report released on Thursday, October 26th. They currently have an outperform rating on the biopharmaceutical company’s stock.
A number of other equities research analysts have also commented on the stock. Raymond James Financial, Inc. raised 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 reissued a buy rating and set a $149.00 target price on shares of Incyte Corporation in a research note on Thursday, August 31st. Oppenheimer Holdings, Inc. reissued a hold rating and set a $135.00 target price on shares of Incyte Corporation in a research note on Thursday, August 31st. Barclays PLC upped their price objective on shares of Incyte Corporation from $135.00 to $185.00 and gave the stock an overweight rating in a report on Tuesday, July 4th. Finally, Argus reiterated a buy rating and issued a $150.00 target price on shares of Incyte Corporation in a report on Wednesday, September 13th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $144.98.
Incyte Corporation (INCY) opened at $104.76 on Thursday. Incyte Corporation has a 12-month low of $98.49 and a 12-month high of $153.15. The company has a current ratio of 4.82, a quick ratio of 4.81 and a debt-to-equity ratio of 0.01.
Incyte Corporation (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ 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 during the quarter, compared to analysts’ expectations of $360.34 million. During the same period in the prior year, the company earned $0.19 EPS. The firm’s quarterly revenue was up 41.6% compared to the same quarter last year. analysts forecast that Incyte Corporation will post -1.3 EPS for the current fiscal year.
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In other news, insider David W. Gryska sold 3,915 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $105.63, for a total transaction of $413,541.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bros. Advisors Lp Baker bought 100,000 shares of the stock in a transaction dated Friday, September 8th. The shares were purchased at an average price of $132.00 per share, with a total value of $13,200,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 102,062 shares of company stock valued at $12,652,893 over the last 90 days. 17.70% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in 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 during the period. Capital International Investors increased its stake in Incyte Corporation by 4.0% in the second quarter. Capital International Investors now owns 6,407,197 shares of the biopharmaceutical company’s stock worth $806,730,000 after purchasing an additional 246,134 shares during the period. BB Biotech AG increased its stake in Incyte Corporation by 0.7% in the second quarter. BB Biotech AG now owns 3,514,822 shares of the biopharmaceutical company’s stock worth $442,551,000 after purchasing an additional 25,000 shares during the period. Matrix Capital Management Company LP increased its stake in Incyte Corporation by 28.3% in the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after purchasing an additional 396,716 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in Incyte Corporation by 10.7% in the second quarter. UBS Asset Management Americas Inc. now owns 1,636,035 shares of the biopharmaceutical company’s stock worth $205,993,000 after purchasing an additional 158,574 shares during the period. Institutional investors own 89.53% of the company’s stock.
About Incyte Corporation
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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