Incyte (NASDAQ:INCY)‘s stock had its “buy” rating reaffirmed by analysts at Raymond James in a research note issued to investors on Tuesday.
Several other equities analysts have also weighed in on INCY. Oppenheimer set a $65.00 price target on Incyte and gave the company a “hold” rating in a research note on Monday. JPMorgan Chase cut their price target on Incyte from $96.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday. Nomura restated a “buy” rating on shares of Incyte in a research note on Thursday, February 1st. ValuEngine lowered Incyte from a “hold” rating to a “sell” rating in a research note on Saturday, April 7th. Finally, Zacks Investment Research upgraded Incyte from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Wednesday, April 18th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $115.71.
Shares of INCY stock opened at $65.00 on Tuesday. The company has a quick ratio of 3.99, a current ratio of 4.01 and a debt-to-equity ratio of 0.01. Incyte has a 52-week low of $61.30 and a 52-week high of $140.11. The stock has a market capitalization of $14,493.39, a PE ratio of 101.56 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 earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $435.23 million. During the same quarter in the previous 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 research analysts expect that Incyte will post -0.16 earnings per share for the current fiscal year.
In other Incyte news, insider David W. Gryska sold 1,952 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $85.56, for a total transaction of $167,013.12. Following the transaction, the insider now owns 12,922 shares of the company’s stock, valued at $1,105,606.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Reid M. Huber sold 1,958 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $85.55, for a total value of $167,506.90. The disclosure for this sale can be found here. 17.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Gravity Companies Inc. acquired a new stake in shares of Incyte during the fourth quarter worth about $120,000. Advantage Investment Management LLC boosted its stake in shares of Incyte by 1,233.3% during the fourth quarter. Advantage Investment Management LLC now owns 2,000 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 1,850 shares during the period. Griffin Asset Management Inc. acquired a new stake in Incyte in the fourth quarter valued at about $200,000. Mission Wealth Management LP acquired a new stake in Incyte in the fourth quarter valued at about $213,000. Finally, Westover Capital Advisors LLC acquired a new stake in Incyte in the fourth quarter valued at about $228,000. Institutional investors and hedge funds own 93.58% of the company’s stock.
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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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