Incyte Co. (NASDAQ:INCY) – Research analysts at SunTrust Banks lowered their Q2 2017 earnings estimates for shares of Incyte in a report released on Sunday. SunTrust Banks analyst P. Lawson now anticipates that the biopharmaceutical company will post earnings per share of $0.11 for the quarter, down from their previous forecast of $0.59. SunTrust Banks has a “Buy” rating and a $145.00 price objective on the stock. SunTrust Banks also issued estimates for Incyte’s Q3 2017 earnings at $0.05 EPS, Q4 2017 earnings at $0.03 EPS, FY2017 earnings at ($0.80) EPS, FY2018 earnings at $0.33 EPS, FY2019 earnings at $2.39 EPS and FY2020 earnings at $3.49 EPS.
Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, February 14th. The biopharmaceutical company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.09. The firm had revenue of $326 million for the quarter, compared to analysts’ expectations of $324.90 million. Incyte had a return on equity of 50.38% and a net margin of 14.71%. Incyte’s revenue was up 33.9% compared to the same quarter last year. During the same period last year, the firm earned $0.29 EPS.
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Other analysts have also issued reports about the stock. BMO Capital Markets lifted their target price on shares of Incyte from $140.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, April 3rd. Barclays PLC set a $135.00 target price on shares of Incyte and gave the company a “buy” rating in a research report on Saturday, April 8th. Zacks Investment Research lowered shares of Incyte from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Piper Jaffray Companies reiterated a “neutral” rating and set a $124.00 target price on shares of Incyte in a research report on Monday. Finally, Raymond James Financial, Inc. reiterated a “hold” rating on shares of Incyte in a research report on Monday. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Incyte has an average rating of “Buy” and a consensus target price of $139.40.
Shares of Incyte (NASDAQ:INCY) traded up 1.037% during midday trading on Wednesday, hitting $124.387. The stock had a trading volume of 234,511 shares. Incyte has a one year low of $68.03 and a one year high of $153.15. The company has a market cap of $23.56 billion, a P/E ratio of 230.346 and a beta of 0.78. The firm has a 50 day moving average of $138.77 and a 200-day moving average of $114.39.
In other news, Director Paul A. Friedman sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $148.72, for a total transaction of $7,436,000.00. Following the transaction, the director now directly owns 302,976 shares in the company, valued at $45,058,590.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven H. Stein sold 32,000 shares of the company’s stock in a transaction that occurred on Friday, April 7th. The stock was sold at an average price of $137.88, for a total transaction of $4,412,160.00. Following the transaction, the executive vice president now owns 41,648 shares in the company, valued at $5,742,426.24. The disclosure for this sale can be found here. Insiders have sold 127,571 shares of company stock worth $18,145,772 over the last quarter. 13.70% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC increased its stake in Incyte by 256.0% in the third quarter. Acadian Asset Management LLC now owns 22,398 shares of the biopharmaceutical company’s stock worth $2,113,000 after buying an additional 16,106 shares during the period. Nationwide Fund Advisors increased its stake in Incyte by 46.9% in the third quarter. Nationwide Fund Advisors now owns 117,435 shares of the biopharmaceutical company’s stock worth $11,073,000 after buying an additional 37,500 shares during the period. Grandfield & Dodd LLC increased its stake in Incyte by 4.4% in the third quarter. Grandfield & Dodd LLC now owns 6,713 shares of the biopharmaceutical company’s stock worth $633,000 after buying an additional 280 shares during the period. Shikiar Asset Management Inc. acquired a new stake in Incyte during the third quarter worth $3,738,000. Finally, Great West Life Assurance Co. Can increased its stake in Incyte by 1.8% in the third quarter. Great West Life Assurance Co. Can now owns 87,751 shares of the biopharmaceutical company’s stock worth $8,265,000 after buying an additional 1,534 shares during the period. 92.62% of the stock is owned by institutional investors and hedge funds.
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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