CIBC reiterated their market perform rating on shares of Incyte Co. (NASDAQ:INCY) in a research report released on Friday. The brokerage currently has a $125.00 price objective on the biopharmaceutical company’s stock.
A number of other equities analysts have also recently commented on INCY. Cowen and Company reissued an outperform rating on shares of Incyte in a research note on Thursday, January 12th. JMP Securities reissued an outperform rating and issued a $130.00 price target on shares of Incyte in a research note on Wednesday, January 18th. Barclays PLC boosted their price target on shares of Incyte from $105.00 to $135.00 and gave the stock a buy rating in a research note on Thursday, January 19th. Credit Suisse Group AG initiated coverage on shares of Incyte in a research note on Monday, January 23rd. They issued an outperform rating and a $137.00 price target for the company. Finally, Goldman Sachs Group Inc boosted their price target on shares of Incyte from $116.00 to $149.00 and gave the stock a buy rating in a research note on Friday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $139.68.
Incyte (NASDAQ:INCY) opened at 120.49 on Friday. The company has a 50-day moving average of $127.45 and a 200 day moving average of $118.84. Incyte has a 52 week low of $69.95 and a 52 week high of $153.15. The company’s market cap is $24.67 billion.
Incyte (NASDAQ:INCY) last released its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.96) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.97) by $0.01. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The business had revenue of $384.08 million during the quarter, compared to analysts’ expectations of $359.19 million. During the same quarter in the previous year, the company earned $0.12 EPS. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. On average, equities analysts forecast that Incyte will post ($0.76) EPS for the current fiscal year.
In other news, Director Paul A. Friedman sold 50,000 shares of the company’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $148.72, for a total value of $7,436,000.00. Following the sale, the director now directly owns 302,976 shares of the company’s stock, valued at approximately $45,058,590.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jean Jacques Bienaime bought 500 shares of Incyte stock in a transaction dated Monday, May 15th. The stock was acquired at an average cost of $115.00 per share, for a total transaction of $57,500.00. Following the completion of the transaction, the director now directly owns 4,177 shares in the company, valued at $480,355. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 3,000 shares of company stock worth $398,770 and sold 137,968 shares worth $19,395,245. 13.70% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. increased its stake in 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. Grandfield & Dodd LLC increased its stake in Incyte by 0.7% in the first quarter. Grandfield & Dodd LLC now owns 7,298 shares of the biopharmaceutical company’s stock worth $976,000 after buying an additional 50 shares in the last quarter. IFP Advisors Inc increased its stake in Incyte by 6.8% in the first quarter. IFP Advisors Inc now owns 1,043 shares of the biopharmaceutical company’s stock worth $139,000 after buying an additional 66 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in 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, Fisher Asset Management LLC increased its stake in Incyte by 0.9% in the first quarter. Fisher Asset Management LLC now owns 15,050 shares of the biopharmaceutical company’s stock worth $2,012,000 after buying an additional 133 shares in the last quarter. 92.62% of the stock is currently owned by hedge funds and other institutional investors.
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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