Incyte (NASDAQ:INCY) has been assigned a $85.00 target price by equities research analysts at Raymond James Financial in a report released on Friday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Raymond James Financial’s target price indicates a potential upside of 32.77% from the company’s previous close.
Other equities research analysts have also issued reports about the stock. Nomura reiterated a “buy” rating on shares of Incyte in a research note on Thursday, February 1st. BMO Capital Markets reiterated a “buy” rating and set a $172.00 price target on shares of Incyte in a research note on Wednesday, January 3rd. William Blair reiterated a “market perform” rating on shares of Incyte in a research note on Friday. ValuEngine upgraded shares of Incyte from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Finally, Guggenheim reiterated a “neutral” rating on shares of Incyte in a research note on Friday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Incyte has an average rating of “Buy” and an average target price of $131.03.
Shares of INCY opened at $64.02 on Friday. Incyte has a twelve month low of $63.43 and a twelve month high of $142.45. The company has a current ratio of 4.01, a quick ratio of 3.99 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $17,594.12, a PE ratio of 100.03 and a beta of 0.66.
Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 EPS for the quarter, topping 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 firm had revenue of $444.20 million for the quarter, compared to analyst estimates of $435.23 million. During the same period last year, the business earned $0.05 EPS. Incyte’s revenue for the quarter was up 36.0% compared to the same quarter last year. equities analysts expect that Incyte will post -0.21 EPS for the current year.
In other news, EVP Reid M. Huber sold 1,958 shares of Incyte stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $85.55, for a total value of $167,506.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David W. Gryska sold 1,952 shares of Incyte stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $85.56, for a total transaction of $167,013.12. Following the completion of the sale, the insider now directly owns 12,922 shares in the company, valued at approximately $1,105,606.32. The disclosure for this sale can be found here. 17.20% of the stock is owned by insiders.
Several large investors have recently modified their holdings of INCY. Renaissance Technologies LLC purchased a new stake in shares of Incyte in the fourth quarter valued at about $71,639,000. HealthCor Management L.P. boosted its holdings in shares of Incyte by 125.5% in the fourth 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 in the last quarter. Sands Capital Management LLC boosted its holdings in shares of Incyte by 8.2% in the fourth 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 in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Incyte by 143.1% in the fourth 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 in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in Incyte by 527.4% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 471,468 shares of the biopharmaceutical company’s stock worth $44,653,000 after buying an additional 396,320 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.
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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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