Raymond James Financial Reiterates “Buy” Rating for Incyte (INCY)

Incyte (NASDAQ:INCY)‘s stock had its “buy” rating reaffirmed by investment analysts at Raymond James Financial in a report released on Thursday.

Other equities analysts have also issued reports about the stock. Nomura restated a “buy” rating on shares of Incyte in a report on Thursday, February 1st. BMO Capital Markets increased their price objective on shares of Incyte from $162.00 to $166.00 and gave the company an “outperform” rating in a report on Tuesday, October 31st. TheStreet lowered shares of Incyte from a “c-” rating to a “d+” rating in a report on Tuesday, December 5th. Citigroup restated a “market perform” rating and issued a $120.00 price objective (down from $135.00) on shares of Incyte in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada cut their price objective on shares of Incyte from $136.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 21st. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $142.94.

Incyte (NASDAQ INCY) opened at $86.03 on Thursday. Incyte has a twelve month low of $80.85 and a twelve month high of $153.15. The company has a quick ratio of 4.81, a current ratio of 3.94 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.54. Incyte had a negative net margin of 20.38% and a negative return on equity of 11.85%. The business had revenue of $444.20 million for the quarter, compared to analyst estimates of $435.23 million. During the same period in the prior year, the business posted $0.05 earnings per share. Incyte’s revenue was up 36.0% compared to the same quarter last year. analysts expect that Incyte will post 0.07 EPS for the current year.

In other news, EVP Vijay K. Iyengar sold 5,000 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $97.26, for a total transaction of $486,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Reid M. Huber sold 696 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $98.01, for a total transaction of $68,214.96. The disclosure for this sale can be found here. Insiders sold 12,456 shares of company stock valued at $1,222,876 in the last ninety days. Insiders own 17.70% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Sands Capital Management LLC increased its position in shares of Incyte by 8.2% during the fourth quarter. Sands Capital Management LLC now owns 8,191,287 shares of the biopharmaceutical company’s stock worth $775,797,000 after acquiring an additional 621,323 shares in the last quarter. Capital International Investors increased its position in shares of Incyte by 1.4% during the third quarter. Capital International Investors now owns 6,494,566 shares of the biopharmaceutical company’s stock worth $758,176,000 after acquiring an additional 87,369 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Incyte by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 1,938,238 shares of the biopharmaceutical company’s stock worth $183,205,000 after acquiring an additional 105,692 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Incyte by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,682,019 shares of the biopharmaceutical company’s stock worth $159,304,000 after acquiring an additional 7,463 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Incyte by 24.3% during the third quarter. Jennison Associates LLC now owns 1,633,173 shares of the biopharmaceutical company’s stock worth $190,657,000 after acquiring an additional 319,191 shares in the last quarter. 90.02% of the stock is owned by institutional investors.

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Incyte 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).

Analyst Recommendations for Incyte (NASDAQ:INCY)

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