Incyte (INCY) Stock Rating Reaffirmed by Raymond James Financial

Incyte (NASDAQ:INCY)‘s stock had its “buy” rating reaffirmed by research analysts at Raymond James Financial in a report issued on Tuesday.

INCY has been the subject of a number of other research reports. J P Morgan Chase & Co restated a “buy” rating and set a $149.00 price target on shares of Incyte in a research note on Thursday, August 31st. Oppenheimer restated a “hold” rating and set a $135.00 price target on shares of Incyte in a research note on Thursday, August 31st. BMO Capital Markets restated an “outperform” rating and set a $172.00 price target on shares of Incyte in a research note on Monday, August 28th. Argus restated a “buy” rating and set a $150.00 price target on shares of Incyte in a research note on Wednesday, September 13th. Finally, Royal Bank of Canada began coverage on shares of Incyte in a research note on Thursday, September 14th. They set a “sector perform” rating and a $136.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $143.84.

Incyte (INCY) traded up $2.70 during trading on Tuesday, reaching $98.10. 1,323,200 shares of the company’s stock traded hands, compared to its average volume of 1,904,266. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.82 and a quick ratio of 4.81. Incyte has a 52-week low of $92.91 and a 52-week high of $153.15.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.11. The company had revenue of $381.50 million during the quarter, compared to analyst estimates of $360.34 million. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. Incyte’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 EPS. analysts forecast that Incyte will post -1.33 earnings per share for the current year.

In related news, insider David W. Gryska sold 3,915 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $105.63, for a total value of $413,541.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Reid M. Huber sold 696 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $98.01, for a total transaction of $68,214.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,620 shares of company stock worth $11,903,297. Company insiders own 17.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Incyte by 11.1% in the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock worth $2,156,276,000 after acquiring an additional 1,709,685 shares during the period. Capital International Investors lifted its stake in Incyte by 1.4% in the third quarter. Capital International Investors now owns 6,494,566 shares of the biopharmaceutical company’s stock worth $758,176,000 after acquiring an additional 87,369 shares during the period. BB Biotech AG increased its holdings in shares of Incyte by 0.7% during the second quarter. BB Biotech AG now owns 3,514,822 shares of the biopharmaceutical company’s stock valued at $442,551,000 after acquiring an additional 25,000 shares in the last quarter. Matrix Capital Management Company LP increased its holdings in shares of Incyte by 28.3% during the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock valued at $226,225,000 after acquiring an additional 396,716 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Incyte by 10.7% during the second quarter. UBS Asset Management Americas Inc. now owns 1,636,035 shares of the biopharmaceutical company’s stock valued at $205,993,000 after buying an additional 158,574 shares during the last quarter. 90.86% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Incyte (INCY) Stock Rating Reaffirmed by Raymond James Financial” was posted by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this report on another publication, it was stolen and republished in violation of United States & international copyright and trademark laws. The correct version of this report can be viewed at https://sportsperspectives.com/2017/12/14/incyte-incy-stock-rating-reaffirmed-by-raymond-james-financial.html.

About Incyte

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).

Analyst Recommendations for Incyte (NASDAQ:INCY)

Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply