Jefferies Group LLC reissued their buy rating on shares of Incyte Corporation (NASDAQ:INCY) in a research note released on Thursday, July 27th. The firm currently has a $148.00 target price on the biopharmaceutical company’s stock.
Other analysts also recently issued research reports about the company. Gabelli started coverage on Incyte Corporation in a research note on Monday, April 10th. They set a buy rating and a $185.00 target price on the stock. Barclays PLC set a $135.00 target price on Incyte Corporation and gave the company a buy rating in a research note on Saturday, April 8th. Royal Bank Of Canada reissued a buy rating and set a $138.00 target price on shares of Incyte Corporation in a research note on Friday, March 31st. Goldman Sachs Group, Inc. (The) decreased their target price on Incyte Corporation from $149.00 to $136.00 and set a buy rating on the stock in a research note on Tuesday, April 18th. Finally, Credit Suisse Group set a $167.00 target price on Incyte Corporation and gave the company a buy rating in a research note on Wednesday, April 19th. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Incyte Corporation has an average rating of Buy and an average target price of $140.16.
Shares of Incyte Corporation (INCY) opened at 121.74 on Thursday. Incyte Corporation has a 12 month low of $75.52 and a 12 month high of $153.15. The company’s market capitalization is $25.04 billion. The stock’s 50 day moving average price is $129.91 and its 200 day moving average price is $129.52.
Incyte Corporation (NASDAQ:INCY) last issued its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.01. The business had revenue of $326.40 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period last year, the business posted $0.18 EPS. On average, analysts forecast that Incyte Corporation will post ($0.86) EPS for the current year.
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In related news, insider Paul Trower sold 3,000 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 13,950 shares in the company, valued at approximately $1,848,375. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Eric H. Siegel sold 1,820 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $132.92, for a total value of $241,914.40. Following the transaction, the executive vice president now owns 23,553 shares of the company’s stock, valued at approximately $3,130,664.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,183 shares of company stock valued at $5,976,946. 17.70% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of INCY. Vanguard Group Inc. boosted its stake in shares of Incyte Corporation by 11.1% in the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock valued at $2,156,276,000 after buying an additional 1,709,685 shares in the last quarter. State Street Corp boosted its stake in shares of Incyte Corporation by 110.7% in the first quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock valued at $1,013,437,000 after buying an additional 3,983,207 shares in the last quarter. Capital International Investors boosted its stake in shares of Incyte Corporation by 4.0% in the second quarter. Capital International Investors now owns 6,407,197 shares of the biopharmaceutical company’s stock valued at $806,730,000 after buying an additional 246,134 shares in the last quarter. BB Biotech AG boosted its stake in shares of Incyte Corporation by 0.7% in the second quarter. BB Biotech AG now owns 3,514,822 shares of the biopharmaceutical company’s stock valued at $442,551,000 after buying an additional 25,000 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Incyte Corporation by 8.0% in the first quarter. FMR LLC now owns 2,980,864 shares of the biopharmaceutical company’s stock valued at $398,452,000 after buying an additional 219,923 shares in the last quarter. Institutional investors own 91.54% of the company’s stock.
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).
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