Credit Suisse Group AG set a $167.00 price target on Incyte Co. (NASDAQ:INCY) in a research report released on Wednesday, April 19th. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Several other brokerages have also recently commented on INCY. Jefferies Group LLC reiterated a buy rating and issued a $140.00 target price on shares of Incyte in a report on Tuesday, February 21st. Instinet initiated coverage on shares of Incyte in a report on Wednesday, March 1st. They issued a buy rating and a $148.00 target price for the company. Royal Bank of Canada reissued an outperform rating and issued a $138.00 price target (up from $123.00) on shares of Incyte in a research report on Tuesday, February 14th. Raymond James Financial, Inc. lowered shares of Incyte from an outperform rating to a hold rating in a research report on Thursday, April 6th. Finally, TheStreet raised shares of Incyte from a c rating to a b- rating in a research report on Tuesday, February 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $139.93.
Shares of Incyte (NASDAQ:INCY) opened at 131.43 on Wednesday. The stock’s market capitalization is $26.91 billion. The stock’s 50 day moving average is $126.97 and its 200-day moving average is $119.23. Incyte has a one year low of $69.95 and a one year high of $153.15.
Incyte (NASDAQ:INCY) last announced its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.96) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.01. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The company had revenue of $384.08 million during the quarter, compared to analysts’ expectations of $359.19 million. During the same period last year, the company posted $0.12 earnings per share. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. On average, equities research analysts predict that Incyte will post ($0.76) EPS for the current fiscal year.
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In other Incyte news, insider David W. Gryska sold 41,528 shares of Incyte stock in a transaction on Monday, April 10th. The shares were sold at an average price of $138.00, for a total transaction of $5,730,864.00. Following the sale, the insider now owns 20,754 shares in the company, valued at $2,864,052. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven H. Stein sold 32,000 shares of Incyte stock in a transaction 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 sale, the executive vice president now owns 41,648 shares in the company, valued at approximately $5,742,426.24. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 3,000 shares of company stock worth $398,770 and have sold 137,968 shares worth $19,395,245. 13.70% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of INCY. Tower Research Capital LLC TRC bought a new position in shares of Incyte during the first quarter worth about $105,000. FNY Partners Fund LP boosted its position in shares of Incyte by 4,825.0% in the first quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 965 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Incyte by 1.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,322 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 22 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Incyte by 6.8% in the first quarter. IFP Advisors Inc now owns 1,043 shares of the biopharmaceutical company’s stock worth $139,000 after buying an additional 66 shares during the last quarter. Finally, Howard Hughes Medical Institute boosted its position in shares of Incyte by 42.2% in the first quarter. Howard Hughes Medical Institute now owns 1,210 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 359 shares during the last quarter. Hedge funds and other institutional investors own 92.62% of the company’s stock.
Incyte Company Profile
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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