Incyte Corporation (NASDAQ:INCY) had its price target increased by BMO Capital Markets from $162.00 to $166.00 in a report issued on Tuesday. The firm currently has an outperform rating on the biopharmaceutical company’s stock.
Other research analysts also recently issued research reports about the company. J P Morgan Chase & Co set a $149.00 target price on Incyte Corporation and gave the stock a buy rating in a report on Tuesday, August 1st. Jefferies Group LLC reissued a buy rating and issued a $148.00 price target on shares of Incyte Corporation in a report on Thursday, July 27th. Cowen and Company reissued an outperform rating and issued a $130.00 price target on shares of Incyte Corporation in a report on Monday, July 3rd. Royal Bank Of Canada assumed coverage on Incyte Corporation in a report on Thursday, September 14th. They issued a sector perform rating and a $136.00 price target on the stock. Finally, Credit Suisse Group set a $152.00 price target on Incyte Corporation and gave the stock a buy rating in a report on Sunday, July 16th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $144.98.
Shares of Incyte Corporation (NASDAQ:INCY) traded down $2.88 during mid-day trading on Tuesday, hitting $105.08. 1,741,891 shares of the company were exchanged, compared to its average volume of 1,860,000. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.87 and a current ratio of 4.82. Incyte Corporation has a 12 month low of $83.01 and a 12 month high of $153.15.
Incyte Corporation (NASDAQ:INCY) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. Incyte Corporation had a negative return on equity of 12.91% and a negative net margin of 10.90%. The company had revenue of $381.50 million for the quarter, compared to the consensus estimate of $360.34 million. During the same quarter last year, the business posted $0.19 EPS. Incyte Corporation’s quarterly revenue was up 41.6% compared to the same quarter last year. research analysts forecast that Incyte Corporation will post -1.01 EPS for the current year.
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In other news, EVP Steven H. Stein sold 2,111 shares of Incyte Corporation stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $125.00, for a total transaction of $263,875.00. Following the transaction, the executive vice president now directly owns 18,687 shares in the company, valued at approximately $2,335,875. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 714 shares of Incyte Corporation stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $124.25, for a total value of $88,714.50. Following the transaction, 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 have sold 102,062 shares of company stock worth $12,652,893. 17.70% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of INCY. D. Scott Neal Inc. acquired a new position in shares of Incyte Corporation in the 2nd quarter worth $103,000. Cornerstone Advisors Inc. grew its holdings in shares of Incyte Corporation by 19.6% in the 2nd quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock worth $111,000 after acquiring an additional 145 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Incyte Corporation by 13.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 108 shares during the last quarter. Exane Asset Management acquired a new position in shares of Incyte Corporation in the 2nd quarter worth $126,000. Finally, Seven Eight Capital LP acquired a new position in shares of Incyte Corporation in the 2nd quarter worth $129,000. Institutional investors and hedge funds own 88.85% of the company’s stock.
Incyte Corporation 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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