Incyte Corporation (NASDAQ:INCY) – Equities researchers at Leerink Swann boosted their Q3 2017 EPS estimates for shares of Incyte Corporation in a report issued on Monday. Leerink Swann analyst M. Schmidt now expects that the biopharmaceutical company will earn $0.13 per share for the quarter, up from their prior estimate of ($0.01). Leerink Swann also issued estimates for Incyte Corporation’s FY2017 earnings at ($0.72) EPS.

Incyte Corporation (NASDAQ:INCY) last announced its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $326.40 million during the quarter, compared to analyst estimates of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The business’s revenue was up 32.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 earnings per share.

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Several other equities analysts have also recently issued reports on INCY. Jefferies Group LLC restated a “buy” rating and set a $148.00 price objective on shares of Incyte Corporation in a research note on Tuesday, June 20th. BidaskClub raised Incyte Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Gabelli reaffirmed a “buy” rating and issued a $174.00 target price on shares of Incyte Corporation in a research report on Wednesday, June 28th. Cowen and Company reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Incyte Corporation in a research report on Monday, July 3rd. Finally, Barclays PLC increased their target price on Incyte Corporation from $135.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 4th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $144.84.

Incyte Corporation (INCY) opened at 114.31 on Thursday. Incyte Corporation has a one year low of $83.01 and a one year high of $153.15. The stock has a 50 day moving average of $120.07 and a 200-day moving average of $126.25. The firm’s market capitalization is $23.51 billion.

Hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. boosted its stake in Incyte Corporation by 9.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 27,147 shares of the biopharmaceutical company’s stock valued at $3,418,000 after buying an additional 2,455 shares in the last quarter. Pinebridge Investments L.P. raised its position in Incyte Corporation by 122.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 74,590 shares of the biopharmaceutical company’s stock valued at $9,392,000 after purchasing an additional 40,992 shares during the last quarter. Calamos Advisors LLC raised its position in Incyte Corporation by 37.7% in the 2nd quarter. Calamos Advisors LLC now owns 113,132 shares of the biopharmaceutical company’s stock valued at $14,244,000 after purchasing an additional 30,990 shares during the last quarter. Pacer Advisors Inc. raised its position in Incyte Corporation by 23.3% in the 2nd quarter. Pacer Advisors Inc. now owns 7,111 shares of the biopharmaceutical company’s stock valued at $895,000 after purchasing an additional 1,345 shares during the last quarter. Finally, Tredje AP fonden raised its position in Incyte Corporation by 63.4% in the 2nd quarter. Tredje AP fonden now owns 22,446 shares of the biopharmaceutical company’s stock valued at $2,826,000 after purchasing an additional 8,706 shares during the last quarter. 88.91% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Barry P. Flannelly sold 714 shares of Incyte Corporation stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $124.25, for a total transaction of $88,714.50. Following the sale, the executive vice president now owns 15,496 shares of the company’s stock, valued at approximately $1,925,378. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric H. Siegel sold 1,820 shares of Incyte Corporation stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $132.92, for a total value of $241,914.40. Following the sale, the executive vice president now directly owns 23,553 shares in the company, valued at approximately $3,130,664.76. The disclosure for this sale can be found here. Insiders have sold a total of 109,452 shares of company stock worth $13,707,134 in the last three months. 17.70% of the stock is owned by insiders.

About Incyte Corporation

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).

Earnings History and Estimates for Incyte Corporation (NASDAQ:INCY)

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