Oppenheimer set a $120.00 price objective on Incyte (NASDAQ:INCY) in a research note issued to investors on Tuesday morning. The firm currently has a hold rating on the biopharmaceutical company’s stock.

Several other analysts have also recently issued reports on INCY. BMO Capital Markets reiterated an outperform rating and issued a $163.00 target price (down from $172.00) on shares of Incyte in a research note on Monday, September 11th. Goldman Sachs Group initiated coverage on shares of Incyte in a research report on Friday, October 6th. They set a buy rating and a $160.00 price objective on the stock. TheStreet cut shares of Incyte from a c- rating to a d+ rating in a research report on Tuesday, December 5th. Jefferies Group restated a buy rating on shares of Incyte in a research report on Friday, October 6th. Finally, Cowen restated a buy rating on shares of Incyte in a research report on Tuesday, December 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $143.11.

Incyte (NASDAQ INCY) traded up $0.09 during midday trading on Tuesday, reaching $100.98. 1,458,486 shares of the company’s stock traded hands, compared to its average volume of 1,460,000. Incyte has a fifty-two week low of $92.91 and a fifty-two week high of $153.15. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01. The stock has a market cap of $21,310.00, a PE ratio of -126.23 and a beta of 0.74.

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

In related news, Director Paul A. Friedman sold 28,507 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $105.24, for a total transaction of $3,000,076.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David W. Gryska sold 3,915 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $105.63, for a total transaction of $413,541.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,118 shares of company stock worth $3,968,133. 17.70% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its holdings in shares of Incyte by 0.8% during the 2nd quarter. Nordea Investment Management AB now owns 8,179 shares of the biopharmaceutical company’s stock valued at $1,030,000 after purchasing an additional 67 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Incyte by 13.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 108 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Incyte by 1.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,571 shares of the biopharmaceutical company’s stock worth $953,000 after acquiring an additional 143 shares during the last quarter. Symphony Asset Management LLC grew its holdings in Incyte by 20.1% in the 2nd quarter. Symphony Asset Management LLC now owns 1,867 shares of the biopharmaceutical company’s stock worth $235,000 after acquiring an additional 312 shares during the last quarter. Finally, Norinchukin Bank The grew its holdings in Incyte by 3.0% in the 2nd quarter. Norinchukin Bank The now owns 11,795 shares of the biopharmaceutical company’s stock worth $1,485,000 after acquiring an additional 348 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors.

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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)

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