Incyte’s (INCY) “Outperform” Rating Reaffirmed at JMP Securities

Incyte (NASDAQ:INCY)‘s stock had its “outperform” rating reiterated by research analysts at JMP Securities in a research report issued to clients and investors on Tuesday, The Fly reports. They currently have a $121.00 price objective on the biopharmaceutical company’s stock. JMP Securities’ target price would indicate a potential upside of 50.05% from the stock’s previous close.

INCY has been the subject of a number of other research reports. Morgan Stanley decreased their price objective on shares of Incyte from $89.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Royal Bank of Canada reiterated a “neutral” rating on shares of Incyte in a report on Monday, January 6th. Piper Jaffray Companies reiterated a “buy” rating and set a $95.00 price objective on shares of Incyte in a report on Thursday, January 2nd. Cantor Fitzgerald decreased their price objective on shares of Incyte from $75.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Finally, BidaskClub lowered shares of Incyte from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company. Incyte has an average rating of “Hold” and a consensus target price of $91.54.

INCY traded down $0.26 on Tuesday, reaching $80.64. 15,444 shares of the company traded hands, compared to its average volume of 1,760,126. Incyte has a one year low of $72.00 and a one year high of $96.79. The firm has a fifty day simple moving average of $88.16 and a two-hundred day simple moving average of $82.98. The company has a market cap of $17.55 billion, a P/E ratio of 98.26, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The company has a quick ratio of 5.01, a current ratio of 5.02 and a debt-to-equity ratio of 0.02.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.27. Incyte had a net margin of 19.21% and a return on equity of 20.07%. The company had revenue of $551.58 million during the quarter, compared to analyst estimates of $534.73 million. During the same quarter last year, the business posted $0.41 EPS. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. On average, equities analysts forecast that Incyte will post 2.14 earnings per share for the current year.

In other Incyte news, EVP Yao Wenqing sold 3,165 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $95.00, for a total transaction of $300,675.00. Following the transaction, the executive vice president now owns 98,473 shares of the company’s stock, valued at approximately $9,354,935. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Trower sold 15,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $93.76, for a total transaction of $1,406,400.00. Insiders have sold a total of 131,436 shares of company stock worth $11,391,310 in the last three months. Insiders own 17.10% of the company’s stock.

Several institutional investors have recently modified their holdings of INCY. Commonwealth Bank of Australia grew its position in shares of Incyte by 49.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 376 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 124 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Incyte by 617.7% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 445 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 383 shares during the last quarter. Pathstone Family Office LLC purchased a new position in shares of Incyte in the 2nd quarter worth approximately $34,000. Captrust Financial Advisors purchased a new position in shares of Incyte in the 2nd quarter worth approximately $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Incyte in the 3rd quarter worth approximately $46,000. 90.90% of the stock is currently owned by hedge funds and other institutional investors.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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The Fly

Analyst Recommendations for Incyte (NASDAQ:INCY)

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