Q3 2016 EPS Estimates for Incyte Corp. (INCY) Boosted by Jefferies Group
Incyte Corp. (NASDAQ:INCY) – Research analysts at Jefferies Group increased their Q3 2016 earnings estimates for shares of Incyte Corp. in a research note issued to investors on Wednesday. Jefferies Group analyst B. Abrahams now expects that the brokerage will earn $0.03 per share for the quarter, up from their previous forecast of ($0.10). Jefferies Group has a “Buy” rating and a $98.00 price target on the stock. Jefferies Group also issued estimates for Incyte Corp.’s FY2016 earnings at $0.27 EPS, FY2018 earnings at $1.90 EPS, FY2019 earnings at $2.61 EPS and FY2020 earnings at $3.58 EPS.
Incyte Corp. (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.20. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. The company had revenue of $208 million for the quarter, compared to the consensus estimate of $236.91 million. During the same quarter last year, the business posted $0.05 earnings per share. The firm’s revenue was up 51.1% compared to the same quarter last year.
A number of other research firms also recently commented on INCY. Piper Jaffray Cos. set a $102.00 target price on shares of Incyte Corp. and gave the stock a “buy” rating in a research report on Tuesday, August 16th. Zacks Investment Research raised shares of Incyte Corp. from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Tuesday, July 19th. Leerink Swann lifted their target price on shares of Incyte Corp. from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Monday. Raymond James Financial Inc. raised shares of Incyte Corp. from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a research report on Thursday, September 29th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Incyte Corp. in a research report on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have issued a buy rating to the company’s stock. Incyte Corp. has an average rating of “Buy” and an average price target of $103.79.
Shares of Incyte Corp. (NASDAQ:INCY) traded up 1.31% during midday trading on Friday, hitting $96.02. The company had a trading volume of 1,354,749 shares. The firm has a market capitalization of $18.05 billion, a P/E ratio of 260.92 and a beta of 0.54. Incyte Corp. has a 1-year low of $55.00 and a 1-year high of $124.98. The stock has a 50 day moving average price of $84.77 and a 200 day moving average price of $80.67.
A number of hedge funds have recently made changes to their positions in INCY. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Incyte Corp. during the second quarter valued at approximately $104,000. Acrospire Investment Management LLC boosted its stake in shares of Incyte Corp. by 18.2% in the second quarter. Acrospire Investment Management LLC now owns 1,300 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 200 shares in the last quarter. Seven Eight Capital LLC acquired a new stake in shares of Incyte Corp. during the first quarter valued at about $113,000. Walleye Trading LLC acquired a new stake in shares of Incyte Corp. during the second quarter valued at about $120,000. Finally, Fifth Third Bancorp boosted its stake in shares of Incyte Corp. by 16.2% in the second quarter. Fifth Third Bancorp now owns 1,678 shares of the biopharmaceutical company’s stock valued at $134,000 after buying an additional 234 shares in the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.
In other Incyte Corp. news, EVP Reid M. Huber sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $87.96, for a total value of $879,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Paula J. Swain sold 60,000 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $90.00, for a total transaction of $5,400,000.00. Following the completion of the sale, the executive vice president now owns 89,248 shares in the company, valued at approximately $8,032,320. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by company insiders.
About Incyte Corp.
Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK).
Receive News & Stock Ratings for Incyte Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corp. and related stocks with our FREE daily email newsletter.