Incyte Corporation (NASDAQ:INCY)‘s stock had its “buy” rating restated by J P Morgan Chase & Co in a note issued to investors on Wednesday, October 25th.
Several other research firms have also commented on INCY. BidaskClub raised Incyte Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Gabelli reaffirmed a “buy” rating and set a $174.00 target price on shares of Incyte Corporation in a report on Wednesday, June 28th. Cowen and Company reaffirmed an “outperform” rating and set a $130.00 target price on shares of Incyte Corporation in a report on Monday, July 3rd. Barclays PLC upped their target price on Incyte Corporation from $135.00 to $185.00 and gave the company an “overweight” rating in a report on Tuesday, July 4th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $165.00 target price on shares of Incyte Corporation in a report on Tuesday, July 4th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Incyte Corporation presently has a consensus rating of “Buy” and a consensus price target of $144.98.
Incyte Corporation (NASDAQ:INCY) traded up $1.77 during trading hours on Wednesday, hitting $104.76. The company had a trading volume of 2,972,500 shares, compared to its average volume of 1,943,709. Incyte Corporation has a fifty-two week low of $98.49 and a fifty-two week high of $153.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.81 and a current ratio of 4.82.
Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $381.50 million for the quarter, compared to analysts’ expectations of $360.34 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Incyte Corporation’s revenue for the quarter was up 41.6% compared to the same quarter last year. equities research analysts predict that Incyte Corporation will post -1.3 earnings per share for the current year.
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In other Incyte Corporation news, insider David W. Gryska sold 3,915 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $105.63, for a total transaction of $413,541.45. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Paula J. Swain sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $140.00, for a total value of $2,800,000.00. Following the completion of the sale, the executive vice president now directly owns 55,067 shares in the company, valued at $7,709,380. The disclosure for this sale can be found here. Insiders have sold 102,062 shares of company stock worth $12,652,893 over the last three months. Company insiders own 17.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wetherby Asset Management Inc. lifted its stake in shares of Incyte Corporation by 1.4% in the second quarter. Wetherby Asset Management Inc. now owns 1,672 shares of the biopharmaceutical company’s stock valued at $211,000 after buying an additional 23 shares during the period. Nordea Investment Management AB lifted its stake in shares of Incyte Corporation by 0.8% in the second quarter. Nordea Investment Management AB now owns 8,179 shares of the biopharmaceutical company’s stock valued at $1,030,000 after buying an additional 67 shares during the period. Grandfield & Dodd LLC lifted its stake in shares of Incyte Corporation by 1.2% in the second quarter. Grandfield & Dodd LLC now owns 7,383 shares of the biopharmaceutical company’s stock valued at $930,000 after buying an additional 85 shares during the period. IFP Advisors Inc lifted its stake in shares of Incyte Corporation by 9.9% in the second quarter. IFP Advisors Inc now owns 1,146 shares of the biopharmaceutical company’s stock valued at $144,000 after buying an additional 103 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in Incyte Corporation by 13.8% during the second quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 88.57% 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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