Shares of Incyte Co. (NASDAQ:INCY) have earned a consensus recommendation of “Hold” from the twenty-seven analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $92.63.
Several equities research analysts have issued reports on INCY shares. BMO Capital Markets lowered their price target on shares of Incyte from $85.00 to $74.00 and set a “market perform” rating on the stock in a report on Friday, January 3rd. Mizuho lowered shares of Incyte from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $98.00 to $79.00 in a report on Thursday, January 2nd. Royal Bank of Canada reaffirmed a “neutral” rating on shares of Incyte in a report on Monday, January 6th. Guggenheim lowered shares of Incyte from a “buy” rating to a “neutral” rating in a report on Thursday, January 2nd. Finally, Morgan Stanley lowered their target price on shares of Incyte from $89.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th.
In related news, EVP Barry P. Flannelly sold 2,142 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $90.00, for a total transaction of $192,780.00. Following the completion of the sale, the executive vice president now directly owns 17,401 shares of the company’s stock, valued at approximately $1,566,090. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Wendy L. Dixon sold 41,218 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $83.87, for a total value of $3,456,953.66. Following the sale, the director now directly owns 22,916 shares of the company’s stock, valued at $1,921,964.92. The disclosure for this sale can be found here. Insiders sold a total of 133,936 shares of company stock worth $11,594,110 over the last quarter. 17.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of INCY. Invesco Ltd. increased its stake in Incyte by 76.2% during the 2nd quarter. Invesco Ltd. now owns 5,210,785 shares of the biopharmaceutical company’s stock worth $442,708,000 after purchasing an additional 2,252,891 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Incyte by 3,415.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,212,722 shares of the biopharmaceutical company’s stock worth $187,993,000 after purchasing an additional 2,149,784 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Incyte by 217.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 477,984 shares of the biopharmaceutical company’s stock worth $35,481,000 after purchasing an additional 327,456 shares in the last quarter. Vanguard Group Inc. increased its stake in Incyte by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 19,441,152 shares of the biopharmaceutical company’s stock worth $1,651,720,000 after purchasing an additional 306,066 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in Incyte during the 2nd quarter worth approximately $19,070,000. 90.89% of the stock is owned by institutional investors and hedge funds.
Incyte stock traded down $0.12 on Wednesday, hitting $80.50. The company’s stock had a trading volume of 1,369,122 shares, compared to its average volume of 1,597,994. The firm has a market cap of $17.34 billion, a P/E ratio of 43.28, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97. The company has a quick ratio of 5.01, a current ratio of 5.02 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average price of $87.62 and a 200-day moving average price of $82.94. Incyte has a one year low of $72.00 and a one year high of $96.79.
Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.27. The firm had revenue of $551.58 million for the quarter, compared to analyst estimates of $534.73 million. Incyte had a net margin of 19.21% and a return on equity of 20.07%. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. Analysts anticipate that Incyte will post 2.14 EPS for the current year.
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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