Incyte (NASDAQ:INCY) received a $110.00 target price from equities researchers at Oppenheimer in a research note issued to investors on Tuesday. The firm currently has a “hold” rating on the biopharmaceutical company’s stock. Oppenheimer’s target price points to a potential upside of 27.86% from the company’s current price.
Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Incyte in a research note on Tuesday, October 31st. Cowen reiterated a “buy” rating on shares of Incyte in a research note on Tuesday, December 5th. Raymond James Financial reiterated a “buy” rating on shares of Incyte in a research note on Tuesday, December 12th. BMO Capital Markets reiterated a “buy” rating and set a $172.00 price objective on shares of Incyte in a research note on Wednesday, January 3rd. Finally, Nomura reiterated a “buy” rating on shares of Incyte in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Incyte currently has an average rating of “Buy” and an average target price of $142.94.
Incyte (NASDAQ:INCY) opened at $86.03 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.01 and a quick ratio of 3.99. Incyte has a one year low of $80.85 and a one year high of $153.15. The company has a market cap of $18,209.45, a PE ratio of -55.15 and a beta of 0.59.
Incyte (NASDAQ:INCY) last released its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.54. Incyte had a negative net margin of 20.38% and a negative return on equity of 11.85%. The business had revenue of $444.20 million for the quarter, compared to the consensus estimate of $435.23 million. During the same period in the prior year, the company posted $0.05 earnings per share. Incyte’s revenue was up 36.0% compared to the same quarter last year. research analysts anticipate that Incyte will post 0.05 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 that occurred on Tuesday, January 2nd. The shares were sold at an average price of $97.26, for a total value of $486,300.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David W. Gryska sold 6,760 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $98.87, for a total transaction of $668,361.20. Following the completion of the sale, the insider now owns 20,752 shares in the company, valued at $2,051,750.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,456 shares of company stock worth $1,222,876. 17.70% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. LMR Partners LLP bought a new position in Incyte in the 3rd quarter valued at approximately $394,000. Exane Derivatives bought a new position in Incyte in the 4th quarter valued at approximately $669,000. Swiss National Bank raised its holdings in Incyte by 3.0% in the 3rd quarter. Swiss National Bank now owns 641,700 shares of the biopharmaceutical company’s stock valued at $74,912,000 after buying an additional 18,700 shares during the last quarter. Prudential Financial Inc. raised its holdings in Incyte by 0.6% in the 3rd quarter. Prudential Financial Inc. now owns 236,699 shares of the biopharmaceutical company’s stock valued at $27,633,000 after buying an additional 1,490 shares during the last quarter. Finally, Columbus Circle Investors raised its holdings in Incyte by 16.8% in the 3rd quarter. Columbus Circle Investors now owns 128,703 shares of the biopharmaceutical company’s stock valued at $15,025,000 after buying an additional 18,545 shares during the last quarter. Institutional investors own 89.43% 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).
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