Incyte Corporation Forecasted to Post FY2017 Earnings of $1.22 Per Share (INCY)

Incyte Corporation (NASDAQ:INCY) – Analysts at Jefferies Group dropped their FY2017 EPS estimates for Incyte Corporation in a report released on Thursday. Jefferies Group analyst B. Abrahams now forecasts that the firm will post earnings of $1.22 per share for the year, down from their previous estimate of $1.44. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for Incyte Corporation’s FY2018 earnings at $1.69 EPS, FY2019 earnings at $2.47 EPS and FY2020 earnings at $3.56 EPS.

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Earnings History and Estimates for Incyte Corporation (NASDAQ:INCY)

Several other research analysts also recently commented on INCY. BMO Capital Markets reissued a “buy” rating and issued a $135.00 price objective on shares of Incyte Corporation in a research note on Tuesday. RBC Capital Markets reissued a “buy” rating on shares of Incyte Corporation in a research note on Monday, December 5th. Zacks Investment Research downgraded Incyte Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, November 29th. Leerink Swann reissued an “outperform” rating and issued a $115.00 price objective (up from $101.00) on shares of Incyte Corporation in a research note on Sunday, November 20th. Finally, J P Morgan Chase & Co reissued a “buy” rating and issued a $101.00 price objective on shares of Incyte Corporation in a research note on Thursday, November 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have issued a buy rating to the company’s stock. Incyte Corporation has a consensus rating of “Buy” and a consensus target price of $103.55.

Shares of Incyte Corporation (NASDAQ:INCY) opened at 118.525 on Monday. The stock’s 50 day moving average is $103.29 and its 200-day moving average is $90.50. The stock has a market capitalization of $22.33 billion, a price-to-earnings ratio of 159.308 and a beta of 0.83. Incyte Corporation has a 52 week low of $55.00 and a 52 week high of $109.95.

Hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC increased its stake in Incyte Corporation by 18.2% in the second quarter. Acrospire Investment Management LLC now owns 1,300 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 200 shares during the last quarter. Walleye Trading LLC bought a new stake in shares of Incyte Corporation during the second quarter valued at about $120,000. Fifth Third Bancorp increased its stake in shares of Incyte Corporation by 16.2% in the second quarter. Fifth Third Bancorp now owns 1,678 shares of the biopharmaceutical company’s stock valued at $134,000 after buying an additional 234 shares in the last quarter. Pinkerton Retirement Specialists LLC bought a new stake in shares of Incyte Corporation during the second quarter valued at about $137,000. Finally, Toronto Dominion Bank increased its stake in shares of Incyte Corporation by 57.3% in the third quarter. Toronto Dominion Bank now owns 1,457 shares of the biopharmaceutical company’s stock valued at $137,000 after buying an additional 531 shares in the last quarter. Institutional investors own 91.91% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This report was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another website, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this report can be read at https://www.com-unik.info/2017/01/10/incyte-corporation-forecasted-to-post-fy2017-earnings-of-1-22-per-share-incy.html.

In other Incyte Corporation news, EVP Paula J. Swain sold 10,000 shares of the business’s stock in a transaction on Thursday, October 20th. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the sale, the executive vice president now directly owns 39,248 shares in the company, valued at $3,532,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Reid M. Huber sold 2,715 shares of the business’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $109.95, for a total value of $298,514.25. The disclosure for this sale can be found here. 13.70% of the stock is owned by insiders.

Incyte Corporation Company Profile

Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK).

5 Day Chart for NASDAQ:INCY

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