Incyte Corporation (INCY) Receives Consensus Rating of “Buy” from Analysts
Incyte Corporation (NASDAQ:INCY) has earned an average rating of “Buy” from the twenty-eight research firms that are presently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $143.93.
A number of equities research analysts have recently commented on the stock. TheStreet upgraded shares of Incyte Corporation from a “d+” rating to a “c” rating in a report on Wednesday, May 24th. Cowen and Company reiterated a “buy” rating on shares of Incyte Corporation in a report on Monday, June 5th. Credit Suisse Group reiterated a “buy” rating on shares of Incyte Corporation in a report on Saturday, June 10th. BMO Capital Markets reiterated an “outperform” rating and set a $166.00 price target (up previously from $155.00) on shares of Incyte Corporation in a report on Monday, June 5th. Finally, Oppenheimer Holdings, Inc. set a $135.00 price target on shares of Incyte Corporation and gave the company a “hold” rating in a report on Tuesday, June 6th.
Shares of Incyte Corporation (INCY) traded down 0.51% during mid-day trading on Friday, hitting $119.15. The stock had a trading volume of 2,995,901 shares. The firm’s market capitalization is $24.51 billion. Incyte Corporation has a 1-year low of $81.49 and a 1-year high of $153.15. The stock’s 50-day moving average is $127.40 and its 200 day moving average is $130.21.
Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). The business had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. Incyte Corporation’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS. Equities research analysts predict that Incyte Corporation will post ($0.84) EPS for the current fiscal year.
In other Incyte Corporation news, EVP Barry P. Flannelly sold 714 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $124.25, for a total value of $88,714.50. Following the transaction, the executive vice president now directly owns 15,496 shares in the company, valued at $1,925,378. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 100,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was acquired at an average price of $132.00 per share, for a total transaction of $13,200,000.00. The disclosure for this purchase can be found here. Insiders sold 54,252 shares of company stock worth $7,206,984 over the last quarter. Insiders own 17.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Incyte Corporation by 11.1% during the 2nd quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock valued at $2,156,276,000 after purchasing an additional 1,709,685 shares during the period. State Street Corp raised its position in shares of Incyte Corporation by 110.7% during the 1st quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock valued at $1,013,437,000 after purchasing an additional 3,983,207 shares during the period. Capital International Investors raised its position in shares of Incyte Corporation by 4.0% during the 2nd quarter. Capital International Investors now owns 6,407,197 shares of the biopharmaceutical company’s stock valued at $806,730,000 after purchasing an additional 246,134 shares during the period. BB Biotech AG raised its position in shares of Incyte Corporation by 0.7% during the 2nd quarter. BB Biotech AG now owns 3,514,822 shares of the biopharmaceutical company’s stock valued at $442,551,000 after purchasing an additional 25,000 shares during the period. Finally, FMR LLC raised its position in shares of Incyte Corporation by 8.0% during the 1st quarter. FMR LLC now owns 2,980,864 shares of the biopharmaceutical company’s stock valued at $398,452,000 after purchasing an additional 219,923 shares during the period. Hedge funds and other institutional investors own 91.06% of the company’s stock.
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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