Incyte (NASDAQ:INCY) has been assigned a $78.00 target price by equities researchers at Credit Suisse Group in a research note issued to investors on Friday, MarketBeat.com reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s price objective indicates a potential upside of 24.12% from the stock’s current price.
INCY has been the subject of several other reports. Oppenheimer reaffirmed a “hold” rating and issued a $110.00 price target (down from $120.00) on shares of Incyte in a report on Monday, January 22nd. Raymond James Financial reaffirmed a “buy” rating on shares of Incyte in a report on Tuesday, December 12th. BidaskClub raised shares of Incyte from a “strong sell” rating to a “sell” rating in a report on Friday, January 26th. Zacks Investment Research lowered shares of Incyte from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Finally, ValuEngine raised shares of Incyte from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $124.27.
Shares of INCY traded down $1.18 during midday trading on Friday, hitting $62.84. The company had a trading volume of 687,196 shares, compared to its average volume of 2,055,582. The company has a market capitalization of $13,559.35, a P/E ratio of 100.03 and a beta of 0.66. Incyte has a 52 week low of $61.40 and a 52 week high of $142.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.99 and a current ratio of 4.01.
Incyte (NASDAQ:INCY) last posted its quarterly 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 net margin of 20.38% and a negative return on equity of 11.85%. The business had revenue of $444.20 million during the quarter, compared to analyst estimates of $435.23 million. During the same period in the previous year, the business posted $0.05 EPS. The company’s quarterly revenue was up 36.0% on a year-over-year basis. sell-side analysts expect that Incyte will post -0.28 earnings per share for the current fiscal year.
In other news, insider David W. Gryska sold 1,952 shares of the company’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 sale, the insider now directly owns 12,922 shares of the company’s stock, valued at approximately $1,105,606.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $167,506.90. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.
Several large investors have recently modified their holdings of the company. Sands Capital Management LLC lifted its stake in shares of Incyte by 8.2% in the 4th quarter. Sands Capital Management LLC now owns 8,191,287 shares of the biopharmaceutical company’s stock worth $775,797,000 after acquiring an additional 621,323 shares during the period. Capital International Investors lifted its stake in shares of Incyte by 1.4% in the 3rd quarter. Capital International Investors now owns 6,494,566 shares of the biopharmaceutical company’s stock worth $758,176,000 after acquiring an additional 87,369 shares during the period. Geode Capital Management LLC lifted its stake in shares of Incyte by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 1,938,238 shares of the biopharmaceutical company’s stock worth $183,205,000 after acquiring an additional 105,692 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Incyte by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,682,019 shares of the biopharmaceutical company’s stock worth $159,304,000 after acquiring an additional 7,463 shares during the period. Finally, HealthCor Management L.P. lifted its stake in shares of Incyte by 125.5% in the 4th quarter. HealthCor Management L.P. now owns 1,350,000 shares of the biopharmaceutical company’s stock worth $127,859,000 after acquiring an additional 751,450 shares during the period. 93.50% of the stock is owned by institutional investors.
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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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