Incyte (INCY) Price Target Cut to $102.00

Incyte (NASDAQ:INCY) had its target price reduced by stock analysts at Nomura to $102.00 in a report released on Monday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Nomura’s price target points to a potential upside of 59.33% from the company’s current price.

Several other brokerages have also weighed in on INCY. BMO Capital Markets reaffirmed a “buy” rating and issued a $172.00 target price on shares of Incyte in a research report on Wednesday, January 3rd. Zacks Investment Research lowered Incyte from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Raymond James Financial reissued a “buy” rating on shares of Incyte in a research report on Tuesday, December 12th. BidaskClub raised Incyte from a “strong sell” rating to a “sell” rating in a research report on Friday, January 26th. Finally, Deutsche Bank began coverage on Incyte in a research report on Tuesday, December 12th. They set a “hold” rating and a $106.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Incyte presently has a consensus rating of “Buy” and a consensus target price of $127.50.

Shares of INCY opened at $64.02 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.99 and a current ratio of 4.01. The firm has a market capitalization of $13,559.35, a P/E ratio of 100.03 and a beta of 0.66. Incyte has a twelve month low of $63.43 and a twelve month high of $142.45.

Incyte (NASDAQ:INCY) last issued its earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, topping the 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 return on equity of 11.85% and a negative net margin of 20.38%. The business’s quarterly revenue was up 36.0% on a year-over-year basis. During the same period last year, the company posted $0.05 EPS. equities research analysts expect that Incyte will post -0.28 EPS for the current year.

In other Incyte news, EVP Reid M. Huber sold 1,958 shares of Incyte 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David W. Gryska sold 1,952 shares of Incyte 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 owns 12,922 shares of the company’s stock, valued at $1,105,606.32. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of INCY. Sands Capital Management LLC raised its holdings in shares of Incyte by 8.2% during 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 buying an additional 621,323 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Incyte by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 1,938,238 shares of the biopharmaceutical company’s stock valued at $183,205,000 after buying an additional 105,692 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Incyte by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,682,019 shares of the biopharmaceutical company’s stock valued at $159,304,000 after buying an additional 7,463 shares during the last quarter. HealthCor Management L.P. raised its holdings in shares of Incyte by 125.5% during 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 buying an additional 751,450 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Incyte by 10.5% during the fourth quarter. Two Sigma Advisers LP now owns 990,182 shares of the biopharmaceutical company’s stock valued at $93,780,000 after buying an additional 94,373 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

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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.

Analyst Recommendations for Incyte (NASDAQ:INCY)

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