Incyte (NASDAQ:INCY) has been given a $65.00 price target by analysts at Oppenheimer in a research note issued on Monday. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. Oppenheimer’s target price indicates a potential upside of 1.53% from the company’s previous close.
INCY has been the subject of several other reports. Raymond James Financial restated a “buy” rating on shares of Incyte in a report on Tuesday, December 12th. BidaskClub upgraded Incyte from a “strong sell” rating to a “sell” rating in a report on Friday, January 26th. Zacks Investment Research cut Incyte from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Credit Suisse Group set a $78.00 target price on Incyte and gave the company a “buy” rating in a report on Friday. Finally, ValuEngine upgraded Incyte from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. 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 issued a strong buy rating to the stock. Incyte currently has a consensus rating of “Buy” and an average price target of $128.78.
Shares of INCY opened at $64.02 on Monday. 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 has a one year low of $63.43 and a one year high of $142.45. The company has a market cap of $13,559.35, a P/E ratio of 100.03 and a beta of 0.66.
Incyte (NASDAQ:INCY) last issued its earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.54. The company had revenue of $444.20 million during the quarter, compared to analysts’ expectations of $435.23 million. Incyte had a negative return on equity of 11.85% and a negative net margin of 20.38%. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 EPS. equities analysts predict that Incyte will post -0.28 EPS for the current year.
In other news, EVP Reid M. Huber sold 1,958 shares of the company’s stock in a transaction 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 at the SEC website. Also, insider David W. Gryska sold 1,952 shares of the company’s stock in a transaction 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 approximately $1,105,606.32. The disclosure for this sale can be found here. Corporate insiders own 17.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in 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 valued at $775,797,000 after purchasing an additional 621,323 shares during the last quarter. Geode Capital Management LLC lifted its stake in Incyte by 5.8% during 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 in the last quarter. Bank of New York Mellon Corp lifted its stake in Incyte by 0.4% during 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 in the last quarter. HealthCor Management L.P. lifted its stake in Incyte by 125.5% during 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 in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Incyte by 10.5% during the 4th quarter. Two Sigma Advisers LP now owns 990,182 shares of the biopharmaceutical company’s stock worth $93,780,000 after acquiring an additional 94,373 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.
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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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