Incyte (NASDAQ:INCY) has been assigned a $110.00 price target by investment analysts at Oppenheimer in a research report issued on Tuesday. The firm currently has a “hold” rating on the biopharmaceutical company’s stock. Oppenheimer’s price target points to a potential upside of 27.86% from the stock’s previous close.
A number of other analysts have also commented on the stock. Deutsche Bank initiated coverage on shares of Incyte in a research report on Tuesday, December 12th. They issued a “hold” rating and a $106.00 price objective on the stock. Zacks Investment Research lowered shares of Incyte from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. BMO Capital Markets cut their price objective on shares of Incyte from $163.00 to $162.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th. Citigroup reissued a “market perform” rating and issued a $120.00 price objective (down previously from $135.00) on shares of Incyte in a research report on Tuesday, January 2nd. Finally, Raymond James Financial reissued a “buy” rating on shares of Incyte in a research report on Tuesday, December 12th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $142.94.
Incyte (INCY) opened at $86.03 on Tuesday. The company has a quick ratio of 3.99, a current ratio of 4.01 and a debt-to-equity ratio of 0.01. The firm has a market cap of $18,209.45, a P/E ratio of -55.15 and a beta of 0.59. Incyte has a 1-year low of $80.85 and a 1-year high of $153.15.
Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.54. The business had revenue of $444.20 million for the quarter, compared to analyst estimates of $435.23 million. Incyte had a negative net margin of 20.38% and a negative return on equity of 11.85%. The firm’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share. sell-side analysts expect that Incyte will post 0.05 EPS for the current fiscal year.
In other Incyte news, EVP Vijay K. Iyengar sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $97.26, for a total transaction of $486,300.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Reid M. Huber sold 696 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $98.01, for a total transaction of $68,214.96. The disclosure for this sale can be found here. Insiders have sold 12,456 shares of company stock worth $1,222,876 over the last ninety days. Insiders own 17.70% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new position in shares of Incyte in the fourth quarter valued at about $120,000. Advantage Investment Management LLC raised its position in shares of Incyte by 1,233.3% in the fourth quarter. Advantage Investment Management LLC now owns 2,000 shares of the biopharmaceutical company’s stock valued at $189,000 after purchasing an additional 1,850 shares during the period. Private Advisor Group LLC bought a new position in shares of Incyte in the third quarter valued at about $203,000. Mission Wealth Management LP bought a new position in shares of Incyte in the fourth quarter valued at about $213,000. Finally, Westover Capital Advisors LLC bought a new position in shares of Incyte in the fourth quarter valued at about $228,000. 89.43% of the stock is currently owned by institutional investors.
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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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