JPMorgan Chase & Co. reiterated their buy rating on shares of Incyte (NASDAQ:INCY) in a report issued on Thursday morning.
Several other brokerages have also recently commented on INCY. BidaskClub cut Incyte from a buy rating to a hold rating in a report on Thursday, November 15th. ValuEngine raised Incyte from a strong sell rating to a sell rating in a report on Tuesday, October 2nd. Guggenheim raised Incyte from a neutral rating to a buy rating in a report on Thursday, January 3rd. Cantor Fitzgerald started coverage on Incyte in a report on Monday, October 1st. They set a neutral rating and a $73.00 target price on the stock. Finally, Leerink Swann started coverage on Incyte in a report on Monday, September 24th. They set a market perform rating and a $78.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $87.32.
Shares of NASDAQ:INCY opened at $74.65 on Thursday. Incyte has a 12 month low of $57.00 and a 12 month high of $96.44. The company has a market cap of $15.68 billion, a P/E ratio of 116.64 and a beta of 0.90. The company has a current ratio of 4.02, a quick ratio of 4.01 and a debt-to-equity ratio of 0.01.
Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.02). Incyte had a positive return on equity of 2.23% and a negative net margin of 6.07%. The firm had revenue of $449.68 million for the quarter, compared to the consensus estimate of $448.34 million. During the same period in the previous year, the firm earned $0.19 EPS. Incyte’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, analysts anticipate that Incyte will post 0.43 earnings per share for the current fiscal year.
In other Incyte news, insider Paul Trower sold 9,187 shares of Incyte stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $75.00, for a total transaction of $689,025.00. Following the transaction, the insider now directly owns 23,359 shares in the company, valued at approximately $1,751,925. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jean Jacques Bienaime acquired 1,000 shares of the stock in a transaction on Thursday, November 8th. The shares were purchased at an average price of $68.77 per share, for a total transaction of $68,770.00. Following the completion of the transaction, the director now owns 6,168 shares in the company, valued at approximately $424,173.36. The disclosure for this purchase can be found here. Insiders sold 49,187 shares of company stock worth $3,539,025 in the last ninety days. 17.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc grew its holdings in shares of Incyte by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 18,380,804 shares of the biopharmaceutical company’s stock valued at $1,269,746,000 after acquiring an additional 120,700 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Incyte by 4.2% during the 3rd quarter. BlackRock Inc. now owns 15,095,211 shares of the biopharmaceutical company’s stock valued at $1,042,778,000 after acquiring an additional 613,119 shares in the last quarter. Manning & Napier Group LLC grew its holdings in shares of Incyte by 7.7% during the 3rd quarter. Manning & Napier Group LLC now owns 4,615,489 shares of the biopharmaceutical company’s stock valued at $318,836,000 after acquiring an additional 330,895 shares in the last quarter. BB Biotech AG grew its holdings in shares of Incyte by 1.3% during the 3rd quarter. BB Biotech AG now owns 3,808,322 shares of the biopharmaceutical company’s stock valued at $263,079,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Incyte by 2.7% during the 2nd quarter. Northern Trust Corp now owns 1,919,868 shares of the biopharmaceutical company’s stock valued at $128,630,000 after acquiring an additional 50,553 shares in the last quarter. Hedge funds and other institutional investors own 90.61% of the company’s stock.
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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