Incyte Co. (NASDAQ:INCY) had its price objective boosted by Royal Bank of Canada from $138.00 to $157.00 in a report released on Tuesday morning. They currently have an outperform rating on the biopharmaceutical company’s stock.
Several other equities analysts also recently weighed in on the company. Goldman Sachs Group Inc lifted their target price on Incyte from $116.00 to $149.00 and gave the company a buy rating in a research report on Friday, January 27th. Vetr raised Incyte from a buy rating to a strong-buy rating and set a $133.50 target price for the company in a research report on Monday, January 30th. JMP Securities reaffirmed an outperform rating and issued a $130.00 target price on shares of Incyte in a research report on Wednesday, January 18th. Zacks Investment Research raised Incyte from a strong sell rating to a hold rating in a research report on Wednesday, March 22nd. Finally, Barclays PLC lifted their price objective on Incyte from $105.00 to $135.00 and gave the company a buy rating in a research note on Thursday, January 19th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $139.40.
Incyte (NASDAQ:INCY) traded down 0.08% on Tuesday, reaching $123.01. 1,814,505 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $138.77 and a 200 day moving average price of $114.39. Incyte has a one year low of $68.03 and a one year high of $153.15. The firm has a market cap of $23.30 billion, a PE ratio of 227.80 and a beta of 0.78.
Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, February 14th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.14 by $0.09. The firm earned $326 million during the quarter, compared to analyst estimates of $324.90 million. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The business’s revenue was up 33.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. On average, equities analysts anticipate that Incyte will post ($0.08) earnings per share for the current year.
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In other Incyte news, Director Jean Jacques Bienaime bought 1,000 shares of Incyte stock in a transaction that occurred on Friday, April 7th. The shares were purchased at an average cost of $139.48 per share, for a total transaction of $139,480.00. Following the completion of the transaction, the director now owns 2,177 shares of the company’s stock, valued at approximately $303,647.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David W. Gryska sold 41,528 shares of the company’s stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $138.00, for a total value of $5,730,864.00. Following the sale, the insider now owns 20,754 shares of the company’s stock, valued at $2,864,052. The disclosure for this sale can be found here. Insiders sold 127,571 shares of company stock worth $18,145,772 over the last 90 days. Company insiders own 13.70% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Rothschild Investment Corp IL bought a new stake in Incyte during the third quarter worth about $219,000. Acadian Asset Management LLC raised 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 raised 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 raised its stake in shares of 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. Finally, Shikiar Asset Management Inc. acquired a new stake in shares of Incyte during the third quarter worth $3,738,000. Institutional investors and hedge funds own 92.62% of the company’s stock.
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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