Incyte’s (INCY) “Outperform” Rating Reiterated at Cowen and Company

Cowen and Company reissued their outperform rating on shares of Incyte Co. (NASDAQ:INCY) in a report published on Monday.

Other research analysts have also issued research reports about the stock. William Blair initiated coverage on shares of Incyte in a research note on Tuesday, March 21st. They issued an outperform rating on the stock. Royal Bank of Canada reiterated a buy rating and issued a $138.00 price target on shares of Incyte in a research note on Friday, March 31st. BMO Capital Markets reiterated an outperform rating and issued a $126.00 price target on shares of Incyte in a research note on Tuesday, December 6th. Instinet initiated coverage on shares of Incyte in a research note on Wednesday, March 1st. They issued a buy rating and a $148.00 price target on the stock. Finally, Barclays PLC upped their price target on shares of Incyte from $105.00 to $135.00 and gave the company a buy rating in a research note on Thursday, January 19th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $139.40.

Shares of Incyte (NASDAQ:INCY) opened at 123.11 on Monday. Incyte has a 52-week low of $68.03 and a 52-week high of $153.15. The stock has a market cap of $23.32 billion, a P/E ratio of 227.98 and a beta of 0.78. The firm’s 50-day moving average price is $138.77 and its 200-day moving average price is $114.39.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, February 14th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.09. The firm earned $326 million during the quarter, compared to the consensus estimate of $324.90 million. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The firm’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 earnings per share. On average, equities research analysts forecast that Incyte will post ($0.08) earnings per share for the current fiscal year.

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In other Incyte news, insider David W. Gryska sold 41,528 shares of the firm’s stock in a transaction on Monday, April 10th. The shares were sold at an average price of $138.00, for a total value of $5,730,864.00. Following the completion of the sale, the insider now directly owns 20,754 shares in the company, valued at $2,864,052. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven H. Stein sold 32,000 shares of the firm’s stock in a transaction on Friday, April 7th. The stock was sold at an average price of $137.88, for a total transaction of $4,412,160.00. Following the completion of the sale, the executive vice president now owns 41,648 shares of the company’s stock, valued at $5,742,426.24. The disclosure for this sale can be found here. Insiders have sold 127,571 shares of company stock valued at $18,145,772 in the last three months. 13.70% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Incyte by 1.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,322 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 22 shares in the last quarter. Ngam Advisors L.P. boosted its position in shares of Incyte by 0.4% in the third quarter. Ngam Advisors L.P. now owns 11,898 shares of the biopharmaceutical company’s stock worth $1,122,000 after buying an additional 47 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of Incyte by 1.7% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 4,328 shares of the biopharmaceutical company’s stock worth $408,000 after buying an additional 72 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Incyte by 1.0% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,567 shares of the biopharmaceutical company’s stock worth $1,090,000 after buying an additional 114 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Incyte by 1.2% in the third quarter. HighTower Advisors LLC now owns 13,226 shares of the biopharmaceutical company’s stock worth $1,244,000 after buying an additional 159 shares in the last quarter. Institutional investors and hedge funds own 92.62% of the company’s stock.

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).

5 Day Chart for NASDAQ:INCY

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