Incyte (NASDAQ:INCY) had its price target increased by Nomura from $100.00 to $111.00 in a report published on Wednesday, BenzingaRatingsTable reports. Nomura currently has a buy rating on the biopharmaceutical company’s stock.
Several other brokerages have also commented on INCY. Morgan Stanley raised their price target on shares of Incyte from $81.00 to $82.00 and gave the company an equal weight rating in a research note on Wednesday. JPMorgan Chase & Co. restated a buy rating and issued a $91.00 price target on shares of Incyte in a research note on Wednesday. Barclays lowered shares of Incyte from an overweight rating to an equal weight rating and dropped their price target for the company from $90.00 to $82.00 in a research note on Friday, May 3rd. Credit Suisse Group began coverage on shares of Incyte in a research note on Monday, May 20th. They issued a neutral rating and a $75.00 price target on the stock. Finally, BidaskClub lowered shares of Incyte from a buy rating to a hold rating in a research note on Saturday, July 13th. Twelve equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $89.67.
Shares of NASDAQ:INCY traded down $1.38 during trading hours on Wednesday, hitting $83.47. The stock had a trading volume of 1,237,227 shares, compared to its average volume of 1,048,820. The firm has a fifty day moving average price of $82.97. Incyte has a 1-year low of $57.00 and a 1-year high of $89.30. The firm has a market capitalization of $18.25 billion, a price-to-earnings ratio of 101.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.61 and a quick ratio of 5.21.
Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.38 by $0.37. Incyte had a net margin of 15.25% and a return on equity of 17.10%. The company had revenue of $529.93 million for the quarter, compared to analyst estimates of $498.57 million. During the same quarter last year, the business earned $0.63 earnings per share. Incyte’s revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Incyte will post 1.98 EPS for the current fiscal year.
In other news, EVP Steven H. Stein sold 8,357 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $87.96, for a total value of $735,081.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 959 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $79.91, for a total transaction of $76,633.69. The disclosure for this sale can be found here. Insiders sold 14,316 shares of company stock valued at $1,211,715 over the last quarter. Insiders own 17.10% of the company’s stock.
A number of large investors have recently modified their holdings of INCY. Bremer Bank National Association bought a new stake in Incyte during the first quarter worth approximately $31,000. CX Institutional boosted its holdings in Incyte by 1,496.7% during the first quarter. CX Institutional now owns 479 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 449 shares in the last quarter. Machina Capital S.A.S. bought a new stake in Incyte during the fourth quarter worth approximately $48,000. Financial Gravity Wealth Inc. bought a new stake in Incyte during the first quarter worth approximately $51,000. Finally, Amica Retiree Medical Trust bought a new stake in Incyte during the second quarter worth approximately $65,000. Hedge funds and other institutional investors own 90.37% of the company’s stock.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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