Oppenheimer set a $110.00 price target on Incyte (NASDAQ:INCY) in a research report released on Tuesday, February 20th. The firm currently has a hold rating on the biopharmaceutical company’s stock. Oppenheimer also issued estimates for Incyte’s Q1 2018 earnings at ($0.07) EPS, Q2 2018 earnings at $0.05 EPS, Q3 2018 earnings at $0.11 EPS, Q4 2018 earnings at $0.37 EPS, FY2018 earnings at $0.46 EPS, FY2019 earnings at $2.11 EPS, FY2020 earnings at $4.04 EPS, FY2021 earnings at $5.80 EPS and FY2022 earnings at $7.72 EPS.
Several other equities research analysts have also recently issued reports on the company. Raymond James Financial reiterated a buy rating on shares of Incyte in a report on Thursday, February 15th. Credit Suisse Group set a $145.00 target price on Incyte and gave the stock a buy rating in a report on Wednesday, February 14th. Nomura restated a buy rating on shares of Incyte in a report on Thursday, February 1st. BidaskClub cut Incyte from a sell rating to a strong sell rating in a report on Thursday, February 1st. Finally, BMO Capital Markets restated a buy rating and set a $172.00 target price on shares of Incyte in a report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $142.83.
Incyte (INCY) traded down $2.37 during mid-day trading on Tuesday, reaching $92.26. The company had a trading volume of 2,648,689 shares, compared to its average volume of 1,700,000. The company has a current ratio of 4.01, a quick ratio of 3.99 and a debt-to-equity ratio of 0.01. Incyte has a 12 month low of $80.85 and a 12 month high of $153.15. The firm has a market cap of $19,470.00, a PE ratio of -59.14 and a beta of 0.64.
Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.54. Incyte had a negative return on equity of 11.85% and a negative net margin of 20.38%. The company had revenue of $444.20 million for the quarter, compared to analysts’ expectations of $435.23 million. During the same period in the previous year, the firm posted $0.05 EPS. Incyte’s revenue was up 36.0% compared to the same quarter last year. equities research analysts anticipate that Incyte will post -0.28 earnings per share for the current fiscal year.
In related news, insider David W. Gryska sold 6,760 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $98.87, for a total value of $668,361.20. Following the transaction, the insider now directly owns 20,752 shares in the company, valued at $2,051,750.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vijay K. Iyengar sold 5,000 shares of the company’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 disclosure for this sale can be found here. Insiders sold 15,670 shares of company stock worth $1,489,181 over the last quarter. 17.70% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Gravity Companies Inc. purchased a new stake in Incyte in the fourth quarter valued at approximately $120,000. Advantage Investment Management LLC raised its position in Incyte by 1,233.3% in the fourth quarter. Advantage Investment Management LLC now owns 2,000 shares of the biopharmaceutical company’s stock valued at $189,000 after purchasing an additional 1,850 shares during the period. Griffin Asset Management Inc. purchased a new stake in Incyte in the fourth quarter valued at approximately $200,000. Private Advisor Group LLC purchased a new stake in Incyte in the third quarter valued at approximately $203,000. Finally, Mission Wealth Management LP purchased a new stake in Incyte in the fourth quarter valued at approximately $213,000. 93.58% of the stock is currently owned by institutional investors.
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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