Incyte Corporation (NASDAQ:INCY)‘s stock had its “outperform” rating reiterated by BMO Capital Markets in a note issued to investors on Monday. They presently have a $163.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $172.00. BMO Capital Markets’ price target would indicate a potential upside of 32.36% from the company’s current price.
A number of other brokerages have also recently issued reports on INCY. Oppenheimer Holdings, Inc. reissued a “hold” rating and issued a $135.00 price objective on shares of Incyte Corporation in a research note on Thursday, August 31st. Barclays PLC reissued an “overweight” rating and issued a $165.00 price objective (down from $180.00) on shares of Incyte Corporation in a research note on Wednesday, August 2nd. Raymond James Financial, Inc. raised shares of Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 price objective for the company in a research note on Monday. J P Morgan Chase & Co reissued a “buy” rating and issued a $149.00 price objective on shares of Incyte Corporation in a research note on Thursday, August 31st. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $148.00 price objective on shares of Incyte Corporation in a research note on Tuesday, June 20th. Seven analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $140.81.
Incyte Corporation (NASDAQ:INCY) opened at 123.15 on Monday. The stock’s market capitalization is $25.33 billion. The company has a 50-day moving average of $129.00 and a 200-day moving average 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 quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The business had revenue of $326.40 million during the quarter, compared to the consensus estimate of $318.45 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. The firm’s revenue was up 32.5% on a year-over-year basis. Analysts anticipate that Incyte Corporation will post ($0.86) earnings per share for the current fiscal year.
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In other news, insider David W. Gryska sold 599 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $129.74, for a total value of $77,714.26. Following the completion of the sale, the insider now owns 19,614 shares in the company, valued at approximately $2,544,720.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Trower sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $126.18, for a total transaction of $378,540.00. Following the completion of the sale, the insider now owns 12,148 shares of the company’s stock, valued at approximately $1,532,834.64. The disclosure for this sale can be found here. Insiders have sold a total of 53,538 shares of company stock valued at $7,118,269 in the last quarter. 17.70% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of INCY. State Street Corp raised its holdings in shares of Incyte Corporation by 110.7% in the 1st quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock valued at $1,013,437,000 after purchasing an additional 3,983,207 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Incyte Corporation by 22.7% in the 1st quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock valued at $2,060,638,000 after purchasing an additional 2,847,907 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Incyte Corporation by 4,570.1% in the 2nd quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock valued at $131,622,000 after purchasing an additional 1,022,979 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Incyte Corporation in the 1st quarter valued at about $85,751,000. Finally, Geode Capital Management LLC raised its holdings in shares of Incyte Corporation by 42.0% in the 1st quarter. Geode Capital Management LLC now owns 1,780,064 shares of the biopharmaceutical company’s stock valued at $237,618,000 after purchasing an additional 526,163 shares in the last quarter. Institutional investors and hedge funds own 91.06% 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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