Incyte Corporation (NASDAQ:INCY) was upgraded by research analysts at Raymond James Financial, Inc. from a “market perform” rating to an “outperform” rating in a research note issued on Monday. The brokerage currently has a $159.00 price target on the biopharmaceutical company’s stock. Raymond James Financial, Inc.’s price target suggests a potential upside of 29.11% from the stock’s previous close.
Several other equities analysts also recently weighed in on the company. J P Morgan Chase & Co restated a “buy” rating and issued a $149.00 target price on shares of Incyte Corporation in a research report on Thursday, August 31st. Oppenheimer Holdings, Inc. restated a “hold” rating and issued a $135.00 target price on shares of Incyte Corporation in a research report on Thursday, August 31st. BMO Capital Markets restated an “outperform” rating and issued a $172.00 target price on shares of Incyte Corporation in a research report on Monday, August 28th. Evercore ISI assumed coverage on Incyte Corporation in a research report on Wednesday, August 16th. They issued an “in-line” rating and a $135.00 target price on the stock. Finally, BidaskClub downgraded Incyte Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Seven analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $140.81.
Shares of Incyte Corporation (NASDAQ INCY) opened at 123.15 on Monday. The company’s market cap is $25.33 billion. The firm has a 50-day moving average price of $129.00 and a 200-day moving average price of $130.50. Incyte Corporation has a 1-year low of $77.58 and a 1-year high of $153.15.
Incyte Corporation (NASDAQ:INCY) last released its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The business’s revenue was up 32.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 EPS. On average, equities analysts expect that Incyte Corporation will post ($0.86) EPS for the current year.
WARNING: This piece was originally posted by Markets Daily and is owned by of Markets Daily. If you are accessing this piece on another site, it was stolen and republished in violation of international copyright & trademark laws. The legal version of this piece can be viewed at https://www.themarketsdaily.com/2017/09/13/incyte-corporation-incy-rating-increased-to-outperform-at-raymond-james-financial-inc.html.
In other news, Director Bros. Advisors Lp Baker acquired 100,000 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was acquired at an average cost of $132.00 per share, with a total value of $13,200,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven H. Stein sold 9,883 shares of Incyte Corporation stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $125.00, for a total value of $1,235,375.00. Following the completion of the sale, the executive vice president now directly owns 18,518 shares of the company’s stock, valued at $2,314,750. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,538 shares of company stock valued at $7,118,269. 17.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of Incyte Corporation in the first quarter valued at $105,000. D. Scott Neal Inc. acquired a new stake in shares of Incyte Corporation in the second quarter valued at $103,000. Cornerstone Advisors Inc. grew its stake in shares of Incyte Corporation by 19.6% in the second quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 145 shares in the last quarter. FNY Partners Fund LP grew its stake in shares of Incyte Corporation by 4,825.0% in the first quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 965 shares in the last quarter. Finally, Exane Asset Management acquired a new stake in shares of Incyte Corporation in the second quarter valued at $126,000. 91.06% of the stock is owned by institutional investors and hedge funds.
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).
Receive News & Ratings for Incyte Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corporation and related companies with MarketBeat.com's FREE daily email newsletter.