Incyte (NASDAQ:INCY) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Saturday.
Other equities analysts have also issued reports about the company. Credit Suisse Group set a $145.00 price objective on Incyte and gave the stock a “buy” rating in a report on Wednesday, February 14th. Nomura reissued a “buy” rating on shares of Incyte in a report on Thursday, February 1st. Raymond James Financial reissued a “buy” rating on shares of Incyte in a report on Tuesday, December 12th. BMO Capital Markets reissued a “buy” rating and issued a $172.00 price objective on shares of Incyte in a report on Wednesday, January 3rd. Finally, SunTrust Banks reissued a “buy” rating and issued a $80.00 price objective on shares of Incyte in a report on Friday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $134.38.
NASDAQ:INCY opened at $64.02 on Friday. The company has a market cap of $17,786.86, a PE ratio of 100.03 and a beta of 0.66. Incyte has a 52 week low of $63.43 and a 52 week high of $142.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.01 and a quick ratio of 3.99.
Incyte (NASDAQ:INCY) last posted its earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.54. Incyte had a negative return on equity of 11.85% and a negative net margin of 20.38%. The company had revenue of $444.20 million during the quarter, compared to analyst estimates of $435.23 million. During the same period in the prior year, the company earned $0.05 earnings per share. The business’s revenue was up 36.0% compared to the same quarter last year. equities research analysts anticipate that Incyte will post -0.21 EPS for the current year.
In other Incyte news, insider David W. Gryska sold 1,952 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.56, for a total value of $167,013.12. Following the completion of the sale, the insider now directly owns 12,922 shares in the company, valued at $1,105,606.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Reid M. Huber sold 1,958 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.55, for a total value of $167,506.90. The disclosure for this sale can be found here. Corporate insiders own 17.20% of the company’s stock.
Several large investors have recently made changes to their positions in INCY. Renaissance Technologies LLC acquired a new stake in shares of Incyte during the 4th quarter valued at $71,639,000. HealthCor Management L.P. lifted its position in shares of Incyte by 125.5% during the 4th quarter. HealthCor Management L.P. now owns 1,350,000 shares of the biopharmaceutical company’s stock valued at $127,859,000 after acquiring an additional 751,450 shares during the last quarter. Sands Capital Management LLC lifted its position in shares of Incyte by 8.2% during the 4th quarter. Sands Capital Management LLC now owns 8,191,287 shares of the biopharmaceutical company’s stock valued at $775,797,000 after acquiring an additional 621,323 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Incyte by 143.1% during the 4th quarter. Two Sigma Investments LP now owns 729,107 shares of the biopharmaceutical company’s stock valued at $69,054,000 after acquiring an additional 429,181 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its position in shares of Incyte by 527.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 471,468 shares of the biopharmaceutical company’s stock valued at $44,653,000 after acquiring an additional 396,320 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.
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Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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