Incyte Co. (NASDAQ:INCY) – Analysts at Gabelli boosted their FY2020 earnings per share (EPS) estimates for Incyte in a research note issued on Wednesday. Gabelli analyst J. He now forecasts that the biopharmaceutical company will post earnings of $4.35 per share for the year, up from their prior forecast of $4.30.
Other equities analysts also recently issued research reports about the company. TheStreet downgraded Incyte from a “c-” rating to a “d+” rating in a research report on Tuesday, December 5th. BMO Capital Markets upped their target price on Incyte from $162.00 to $166.00 and gave the company an “outperform” rating in a research report on Tuesday, October 31st. Royal Bank of Canada cut their price target on Incyte from $136.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 21st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Incyte in a research note on Tuesday, October 31st. Finally, Citigroup reiterated a “market perform” rating and issued a $120.00 price target (down from $135.00) on shares of Incyte in a research note on Tuesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $143.71.
Incyte (NASDAQ INCY) traded up $1.24 during trading on Friday, hitting $93.16. The stock had a trading volume of 1,912,640 shares, compared to its average volume of 1,412,143. Incyte has a 52 week low of $88.81 and a 52 week high of $153.15. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $19,398.55, a P/E ratio of -116.45 and a beta of 0.74.
Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.06 by $0.11. Incyte 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 in the prior year, the business earned $0.19 earnings per share. The firm’s revenue for the quarter was up 41.6% on a year-over-year basis.
In other Incyte news, Director Paul A. Friedman sold 28,507 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $105.24, for a total transaction of $3,000,076.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David W. Gryska sold 6,760 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $98.87, for a total value of $668,361.20. Following the sale, the insider now owns 20,752 shares of the company’s stock, valued at $2,051,750.24. The disclosure for this sale can be found here. Insiders have sold 44,878 shares of company stock valued at $4,636,494 over the last 90 days. Corporate insiders own 17.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INCY. Vanguard Group Inc. lifted its stake in Incyte by 11.1% during the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock worth $2,156,276,000 after purchasing an additional 1,709,685 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Incyte during the third quarter worth $125,065,000. Janus Henderson Group PLC lifted its stake in Incyte by 4,570.1% during the second quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock worth $131,622,000 after purchasing an additional 1,022,979 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its stake in Incyte by 374.4% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock worth $108,605,000 after purchasing an additional 734,235 shares during the last quarter. Finally, Matrix Capital Management Company LP lifted its stake in Incyte by 28.3% during the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after purchasing an additional 396,716 shares during the last quarter. Hedge funds and other institutional investors own 90.76% of the company’s stock.
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Incyte 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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