Incyte Corporation (INCY) Given a $135.00 Price Target at Oppenheimer Holdings, Inc.

Oppenheimer Holdings, Inc. set a $135.00 price objective on Incyte Corporation (NASDAQ:INCY) in a report published on Tuesday. The brokerage currently has a hold rating on the biopharmaceutical company’s stock. Oppenheimer Holdings also issued estimates for Incyte Corporation’s FY2021 earnings at $5.71 EPS.

A number of other research firms also recently weighed in on INCY. BMO Capital Markets cut their price target on shares of Incyte Corporation from $163.00 to $162.00 and set an outperform rating on the stock in a research note on Thursday, October 26th. Barclays PLC reaffirmed an overweight rating and set a $165.00 price target (down previously from $180.00) on shares of Incyte Corporation in a research note on Wednesday, August 2nd. Royal Bank Of Canada started coverage on shares of Incyte Corporation in a research note on Thursday, September 14th. They set a sector perform rating and a $136.00 price target on the stock. Raymond James Financial, Inc. raised shares of Incyte Corporation from a market perform rating to an outperform rating and set a $159.00 price target on the stock in a research note on Monday, September 11th. Finally, J P Morgan Chase & Co reaffirmed a buy rating and set a $149.00 price target on shares of Incyte Corporation in a research note on Thursday, August 31st. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $144.98.

Incyte Corporation (NASDAQ INCY) opened at $105.08 on Tuesday. Incyte Corporation has a 52-week low of $83.01 and a 52-week high of $153.15. The company has a current ratio of 4.82, a quick ratio of 2.87 and a debt-to-equity ratio of 0.01.

Incyte Corporation (NASDAQ:INCY) last announced its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.11. Incyte Corporation had a negative net margin of 10.90% and a negative return on equity of 12.91%. The firm had revenue of $381.50 million for the quarter, compared to analyst estimates of $360.34 million. During the same quarter last year, the business earned $0.19 earnings per share. Incyte Corporation’s revenue was up 41.6% compared to the same quarter last year. equities research analysts predict that Incyte Corporation will post -1.01 EPS for the current year.

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In other news, Director Bros. Advisors Lp Baker acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were purchased at an average cost of $132.00 per share, for a total transaction of $13,200,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 714 shares of Incyte Corporation stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $124.25, for a total transaction of $88,714.50. Following the completion of the sale, the executive vice president now owns 15,496 shares in the company, valued at $1,925,378. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,062 shares of company stock worth $12,652,893. 17.70% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Incyte Corporation by 11.1% during the 2nd quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock worth $2,156,276,000 after buying an additional 1,709,685 shares in the last quarter. Capital International Investors raised its position in shares of Incyte Corporation by 4.0% during the 2nd quarter. Capital International Investors now owns 6,407,197 shares of the biopharmaceutical company’s stock worth $806,730,000 after buying an additional 246,134 shares in the last quarter. BB Biotech AG raised its position in shares of Incyte Corporation by 0.7% during the 2nd quarter. BB Biotech AG now owns 3,514,822 shares of the biopharmaceutical company’s stock worth $442,551,000 after buying an additional 25,000 shares in the last quarter. Matrix Capital Management Company LP raised its position in shares of Incyte Corporation by 28.3% during the 2nd quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after buying an additional 396,716 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of Incyte Corporation by 10.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,636,035 shares of the biopharmaceutical company’s stock worth $205,993,000 after buying an additional 158,574 shares in the last quarter. Institutional investors own 88.85% of the company’s stock.

About Incyte Corporation

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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