Incyte Corporation (INCY) Rating Reiterated by Oppenheimer Holdings, Inc.
Incyte Corporation (NASDAQ:INCY)‘s stock had its “hold” rating restated by research analysts at Oppenheimer Holdings, Inc. in a research report issued on Thursday. They presently have a $135.00 price target on the biopharmaceutical company’s stock. Oppenheimer Holdings, Inc.’s price objective indicates a potential downside of 2.20% from the stock’s current price.
INCY has been the subject of a number of other research reports. BMO Capital Markets reiterated an “outperform” rating and set a $172.00 price objective on shares of Incyte Corporation in a research note on Monday, August 28th. Morgan Stanley reiterated an “overweight” rating and set a $142.00 price objective on shares of Incyte Corporation in a research note on Friday, May 19th. Zacks Investment Research upgraded Incyte Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. BidaskClub upgraded Incyte Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, TheStreet cut Incyte Corporation from a “c+” rating to a “d+” rating in a research note on Thursday, May 4th. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Incyte Corporation presently has an average rating of “Buy” and a consensus price target of $140.16.
Shares of Incyte Corporation (INCY) opened at 138.03 on Thursday. The company’s market cap is $28.39 billion. Incyte Corporation has a one year low of $77.58 and a one year high of $153.15. The company’s 50-day moving average price is $129.15 and its 200 day moving average price is $130.00.
Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $326.40 million for the quarter, compared to analysts’ expectations of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The firm’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, equities research analysts anticipate that Incyte Corporation will post ($0.86) earnings per share for the current year.
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In other Incyte Corporation news, insider Paul Trower sold 3,000 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $132.50, for a total transaction of $397,500.00. Following the completion of the sale, the insider now owns 13,950 shares of the company’s stock, valued at $1,848,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven H. Stein sold 9,883 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $125.00, for a total value of $1,235,375.00. Following the sale, the executive vice president now directly owns 18,518 shares of the company’s stock, valued at approximately $2,314,750. The disclosure for this sale can be found here. Insiders have sold 48,474 shares of company stock valued at $6,004,221 in the last three months. 17.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in INCY. Daiwa Securities Group Inc. raised its stake in Incyte Corporation by 12.3% in the first quarter. Daiwa Securities Group Inc. now owns 17,930 shares of the biopharmaceutical company’s stock valued at $2,396,000 after buying an additional 1,960 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Incyte Corporation by 4.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 123,337 shares of the biopharmaceutical company’s stock valued at $17,032,000 after buying an additional 5,273 shares in the last quarter. Tyers Asset Management LLC bought a new stake in Incyte Corporation during the first quarter valued at about $456,000. Great West Life Assurance Co. Can raised its stake in Incyte Corporation by 32.3% in the first quarter. Great West Life Assurance Co. Can now owns 162,133 shares of the biopharmaceutical company’s stock valued at $21,660,000 after buying an additional 39,589 shares in the last quarter. Finally, Geneva Advisors LLC bought a new stake in Incyte Corporation during the first quarter valued at about $1,102,000. 91.04% of the stock is owned by institutional investors and hedge funds.
Incyte Corporation 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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