Other equities analysts have also recently issued research reports about the stock. JMP Securities reaffirmed an outperform rating and set a $130.00 price objective on shares of Incyte in a research note on Wednesday, January 18th. BMO Capital Markets reaffirmed an outperform rating and set a $149.00 price objective (up previously from $135.00) on shares of Incyte in a research note on Thursday, February 16th. Vetr raised shares of Incyte from a buy rating to a strong-buy rating and set a $133.50 price objective for the company in a research note on Monday, January 30th. Credit Suisse Group AG started coverage on shares of Incyte in a research note on Monday, January 23rd. They set an outperform rating and a $137.00 price objective for the company. Finally, Zacks Investment Research raised shares of Incyte from a strong sell rating to a hold rating in a research note on Wednesday, March 22nd. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus 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 posted its quarterly earnings results on Tuesday, February 14th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.09. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The business earned $326 million during the quarter, compared to the consensus estimate of $324.90 million. During the same period last year, the firm earned $0.29 EPS. The business’s revenue for the quarter was up 33.9% on a year-over-year basis. 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 related news, EVP Steven H. Stein sold 32,000 shares of the company’s stock in a transaction on Friday, April 7th. The shares were 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 directly owns 41,648 shares in the company, valued at approximately $5,742,426.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jean Jacques Bienaime purchased 1,000 shares of the stock in a transaction that occurred on Friday, April 7th. The shares were purchased at an average price of $139.48 per share, with a total value of $139,480.00. Following the completion of the acquisition, the director now directly owns 2,177 shares in the company, valued at $303,647.96. The disclosure for this purchase can be found here. Insiders sold a total of 127,571 shares of company stock valued at $18,145,772 in the last ninety days. 13.70% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Old Mutual Global Investors UK Ltd. purchased a new stake in Incyte during the third quarter worth approximately $14,626,000. Chicago Equity Partners LLC purchased a new stake in Incyte during the third quarter worth approximately $857,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Incyte by 2.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 29,018 shares of the biopharmaceutical company’s stock worth $2,736,000 after buying an additional 592 shares in the last quarter. Shell Asset Management Co. raised its stake in Incyte by 76.7% in the third quarter. Shell Asset Management Co. now owns 19,666 shares of the biopharmaceutical company’s stock worth $1,854,000 after buying an additional 8,539 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Incyte during the third quarter worth approximately $243,000. Institutional investors 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).
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