Incyte Corporation (NASDAQ:INCY) Rating Reiterated by BMO Capital Markets

BMO Capital Markets restated their buy rating on shares of Incyte Corporation (NASDAQ:INCY) in a report released on Friday, July 21st. BMO Capital Markets currently has a $172.00 price target on the biopharmaceutical company’s stock.

INCY has been the subject of a number of other reports. Oppenheimer Holdings, Inc. set a $125.00 price objective on shares of Incyte Corporation and gave the stock a hold rating in a research report on Thursday, May 18th. TheStreet cut shares of Incyte Corporation from a b- rating to a c+ rating in a research report on Monday, April 17th. Credit Suisse Group set a $167.00 price objective on shares of Incyte Corporation and gave the stock a buy rating in a research report on Wednesday, April 19th. Jefferies Group LLC reiterated a buy rating and set a $148.00 price objective (down from $165.00) on shares of Incyte Corporation in a research report on Monday, April 17th. Finally, J P Morgan Chase & Co set a $149.00 price objective on shares of Incyte Corporation and gave the stock a buy rating in a research report on Thursday, May 18th. Seven investment 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 company’s stock. The stock currently has an average rating of Buy and a consensus price target of $141.30.

Incyte Corporation (NASDAQ INCY) traded down 3.40% during mid-day trading on Friday, hitting $128.76. 1,471,913 shares of the stock traded hands. Incyte Corporation has a one year low of $75.52 and a one year high of $153.15. The stock’s market capitalization is $26.37 billion. The company has a 50 day moving average price of $129.87 and a 200-day moving average price of $128.96.

Incyte Corporation (NASDAQ:INCY) last issued its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.01. The firm 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 8.72% and a negative return on equity of 20.09%. Incyte Corporation’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 earnings per share. Equities analysts anticipate that Incyte Corporation will post ($0.74) earnings per share for the current fiscal year.

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In other Incyte Corporation news, EVP Reid M. Huber sold 8,577 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $119.21, for a total transaction of $1,022,464.17. Following the transaction, the executive vice president now owns 44,614 shares in the company, valued at $5,318,434.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jean Jacques Bienaime acquired 500 shares of the stock in a transaction on Monday, May 15th. The shares were acquired at an average price of $115.00 per share, for a total transaction of $57,500.00. Following the acquisition, the director now owns 4,177 shares of the company’s stock, valued at approximately $480,355. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 51,940 shares of company stock worth $6,381,746. 17.70% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Incyte Corporation by 1.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,322 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 22 shares in the last quarter. Grandfield & Dodd LLC increased its stake in shares of Incyte Corporation by 0.7% in the first quarter. Grandfield & Dodd LLC now owns 7,298 shares of the biopharmaceutical company’s stock valued at $976,000 after buying an additional 50 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Incyte Corporation by 6.8% in the first quarter. IFP Advisors Inc now owns 1,043 shares of the biopharmaceutical company’s stock valued at $139,000 after buying an additional 66 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Incyte Corporation by 5.4% in the second quarter. State of Alaska Department of Revenue now owns 2,292 shares of the biopharmaceutical company’s stock valued at $288,000 after buying an additional 117 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Incyte Corporation by 0.9% in the first quarter. Fisher Asset Management LLC now owns 15,050 shares of the biopharmaceutical company’s stock valued at $2,012,000 after buying an additional 133 shares in the last quarter. Institutional investors own 92.33% 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).