Incyte Co. (NASDAQ:INCY) – SunTrust Banks issued their FY2022 earnings per share (EPS) estimates for Incyte in a report released on Thursday, according to Zacks Investment Research. SunTrust Banks analyst P. Lawson anticipates that the biopharmaceutical company will post earnings of $8.02 per share for the year.
A number of other equities research analysts have also weighed in on INCY. Jefferies Group restated a “buy” rating on shares of Incyte in a report on Friday, October 6th. Goldman Sachs Group initiated coverage on shares of Incyte in a report on Friday, October 6th. They issued a “buy” rating and a $160.00 price objective for the company. JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte in a report on Wednesday, October 25th. BMO Capital Markets lowered their price target on shares of Incyte from $163.00 to $162.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Finally, Oppenheimer set a $135.00 price target on shares of Incyte and gave the company a “hold” rating in a report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Incyte presently has a consensus rating of “Buy” and an average target price of $143.25.
Shares of Incyte (INCY) opened at $92.50 on Monday. The firm has a market cap of $19,740.43, a P/E ratio of -115.63 and a beta of 0.74. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01. Incyte has a 1-year low of $88.81 and a 1-year high of $153.15.
Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.11. The firm had revenue of $381.50 million during the quarter, compared to analyst estimates of $360.34 million. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. The business’s quarterly revenue was up 41.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS.
Several large investors have recently added to or reduced their stakes in INCY. Vanguard Group Inc. grew its position in shares of Incyte by 11.1% in the 2nd quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock worth $2,156,276,000 after buying an additional 1,709,685 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Incyte in the 3rd quarter worth about $125,065,000. Janus Henderson Group PLC grew its position in shares of Incyte by 4,570.1% in the 2nd quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock worth $131,622,000 after buying an additional 1,022,979 shares during the period. Old Mutual Global Investors UK Ltd. grew its position in Incyte by 374.4% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock valued at $108,605,000 after purchasing an additional 734,235 shares during the last quarter. Finally, Matrix Capital Management Company LP grew its position in Incyte by 28.3% during the 2nd quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock valued at $226,225,000 after purchasing an additional 396,716 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Paul A. Friedman sold 28,507 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $105.24, for a total value of $3,000,076.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Vijay K. Iyengar sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $97.26, for a total transaction of $486,300.00. The disclosure for this sale can be found here. Insiders sold a total of 44,878 shares of company stock valued at $4,636,494 over the last 90 days. Company insiders own 17.70% 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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