SunTrust Banks reiterated their buy rating on shares of Incyte (NASDAQ:INCY) in a research report report published on Friday morning. They currently have a $80.00 target price on the biopharmaceutical company’s stock.
A number of other analysts have also commented on the company. Raymond James Financial set a $85.00 price target on Incyte and gave the company a buy rating in a research note on Friday. Guggenheim reissued a neutral rating on shares of Incyte in a research note on Friday. William Blair reissued a market perform rating on shares of Incyte in a research note on Friday. Barclays cut their price target on Incyte from $165.00 to $135.00 and set an overweight rating on the stock in a research note on Thursday. Finally, BidaskClub lowered Incyte from a sell rating to a strong sell rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average price target of $134.38.
Incyte stock traded down $19.05 during midday trading on Friday, reaching $64.02. The company’s stock had a trading volume of 26,079,928 shares, compared to its average volume of 1,503,206. Incyte has a 52 week low of $63.43 and a 52 week high of $142.45. 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 stock has a market cap of $17,594.12, a PE ratio of 100.03 and a beta of 0.66.
Incyte (NASDAQ:INCY) last released its earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $444.20 million for the quarter, compared to analysts’ expectations of $435.23 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. analysts expect that Incyte will post -0.21 earnings per share for the current year.
In other Incyte news, EVP Reid M. Huber sold 1,958 shares of the business’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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David W. Gryska sold 1,952 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.56, for a total value of $167,013.12. Following the completion of the transaction, the insider now directly owns 12,922 shares in the company, valued at $1,105,606.32. The disclosure for this sale can be found here. 17.20% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Xact Kapitalforvaltning AB lifted its stake in Incyte by 9.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 30,627 shares of the biopharmaceutical company’s stock valued at $2,901,000 after buying an additional 2,749 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Incyte by 13.3% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 79,710 shares of the biopharmaceutical company’s stock valued at $7,549,000 after buying an additional 9,371 shares during the period. Griffin Asset Management Inc. acquired a new position in Incyte in the fourth quarter valued at approximately $200,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in Incyte by 1,923.9% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 38,292 shares of the biopharmaceutical company’s stock valued at $1,256,000 after buying an additional 36,400 shares during the period. Finally, Westover Capital Advisors LLC acquired a new position in Incyte in the fourth quarter valued at approximately $228,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.
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Incyte Company Profile
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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