Incyte (NASDAQ:INCY) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.
Other analysts have also recently issued reports about the stock. JMP Securities cut shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 1st. Oppenheimer set a $70.00 price target on shares of Incyte and gave the company a “hold” rating in a report on Thursday, September 13th. Cowen reaffirmed a “buy” rating on shares of Incyte in a report on Tuesday, July 31st. Cantor Fitzgerald assumed coverage on shares of Incyte in a report on Monday, October 1st. They issued a “neutral” rating and a $73.00 price target on the stock. Finally, Zacks Investment Research cut shares of Incyte from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. Incyte presently has a consensus rating of “Buy” and an average target price of $94.48.
Shares of INCY stock opened at $68.97 on Tuesday. The firm has a market capitalization of $14.35 billion, a PE ratio of 107.77 and a beta of 1.12. The company has a quick ratio of 4.01, a current ratio of 4.02 and a debt-to-equity ratio of 0.01. Incyte has a twelve month low of $58.33 and a twelve month high of $109.85.
Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The firm had revenue of $449.68 million during the quarter, compared to analysts’ expectations of $448.34 million. Incyte had a negative net margin of 6.07% and a positive return on equity of 2.23%. Incyte’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 earnings per share. On average, research analysts predict that Incyte will post 0.41 EPS for the current year.
In other Incyte news, EVP Barry P. Flannelly sold 1,000 shares of the stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Paula J. Swain sold 10,000 shares of the stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $70.00, for a total transaction of $700,000.00. Following the sale, the executive vice president now directly owns 42,324 shares in the company, valued at $2,962,680. The disclosure for this sale can be found here. Insiders have sold 31,000 shares of company stock worth $2,202,100 over the last three months. 17.20% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. NuWave Investment Management LLC increased its holdings in shares of Incyte by 19,237.5% in the 3rd quarter. NuWave Investment Management LLC now owns 1,547 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 1,539 shares during the period. Resources Investment Advisors Inc. increased its holdings in shares of Incyte by 93.8% in the 2nd quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 841 shares during the period. First Mercantile Trust Co. increased its holdings in shares of Incyte by 75.8% in the 2nd quarter. First Mercantile Trust Co. now owns 2,157 shares of the biopharmaceutical company’s stock worth $145,000 after acquiring an additional 930 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Incyte in the 2nd quarter worth about $161,000. Finally, Seven Eight Capital LP acquired a new stake in shares of Incyte in the 3rd quarter worth about $202,000. 92.03% of the stock is currently owned by institutional investors.
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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