Incyte Co. (NASDAQ:INCY) has earned a consensus recommendation of “Buy” from the twenty-seven ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $104.61.
Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. reiterated a “buy” rating and set a $88.00 target price on shares of Incyte in a research report on Sunday, June 24th. BidaskClub upgraded Incyte from a “sell” rating to a “hold” rating in a research report on Saturday, June 23rd. Argus set a $83.00 target price on Incyte and gave the company a “buy” rating in a research report on Thursday, August 30th. Cowen reiterated a “buy” rating on shares of Incyte in a research report on Tuesday. Finally, Royal Bank of Canada cut Incyte from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $76.00 to $74.00 in a report on Tuesday, June 26th. They noted that the move was a valuation call.
In other news, EVP Vijay K. Iyengar sold 606 shares of Incyte stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $71.34, for a total value of $43,232.04. 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 Incyte stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $70.00, for a total value of $700,000.00. Following the completion of 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. 17.20% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of INCY. Global X Management Co. LLC increased its holdings in shares of Incyte by 13.1% in the first quarter. Global X Management Co. LLC now owns 13,234 shares of the biopharmaceutical company’s stock worth $1,103,000 after purchasing an additional 1,528 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Incyte by 36.8% in the first quarter. Daiwa Securities Group Inc. now owns 7,107 shares of the biopharmaceutical company’s stock worth $592,000 after purchasing an additional 1,911 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Incyte by 1.2% in the first quarter. Rhumbline Advisers now owns 349,899 shares of the biopharmaceutical company’s stock worth $29,157,000 after purchasing an additional 4,094 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of Incyte in the first quarter worth about $1,683,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Incyte by 76.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 54,584 shares of the biopharmaceutical company’s stock worth $4,548,000 after purchasing an additional 23,644 shares during the last quarter. 91.52% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ INCY traded up $0.47 on Friday, hitting $74.31. 33,299 shares of the company traded hands, compared to its average volume of 1,537,333. The company has a market capitalization of $15.71 billion, a PE ratio of 116.16 and a beta of 1.14. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.32 and a current ratio of 4.34. Incyte has a 52-week low of $60.22 and a 52-week high of $138.92.
Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.22. The company had revenue of $521.50 million for the quarter, compared to the consensus estimate of $510.70 million. Incyte had a positive return on equity of 1.74% and a negative net margin of 5.92%. Incyte’s quarterly revenue was up 59.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) earnings per share. sell-side analysts forecast that Incyte will post 0.43 EPS for the current year.
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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