BMO Capital Markets reaffirmed their outperform rating on shares of Incyte Corporation (NASDAQ:INCY) in a research report sent to investors on Monday. They currently have a $172.00 price target on the biopharmaceutical company’s stock.
Other equities analysts also recently issued reports about the stock. TheStreet raised shares of Incyte Corporation from a d+ rating to a c rating in a research note on Wednesday, May 24th. Cowen and Company reaffirmed a buy rating on shares of Incyte Corporation in a research note on Monday, June 5th. Credit Suisse Group reaffirmed a buy rating on shares of Incyte Corporation in a research note on Saturday, June 10th. Oppenheimer Holdings, Inc. set a $135.00 target price on shares of Incyte Corporation and gave the stock a hold rating in a research note on Tuesday, June 6th. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $148.00 target price on shares of Incyte Corporation in a research note on Thursday, July 27th. Eight investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $140.16.
Incyte Corporation (NASDAQ:INCY) opened at 138.27 on Monday. Incyte Corporation has a 52-week low of $77.58 and a 52-week high of $153.15. The firm’s market cap is $28.44 billion. The firm’s 50-day moving average price is $129.05 and its 200 day moving average price is $129.60.
Incyte Corporation (NASDAQ:INCY) last announced its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.01. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The company had revenue of $326.40 million during the quarter, compared to the consensus estimate of $318.45 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The company’s revenue was up 32.5% on a year-over-year basis. On average, equities analysts anticipate that Incyte Corporation will post ($0.86) earnings per share for the current year.
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In other news, insider Paul Trower sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $132.50, for a total value of $397,500.00. Following the completion of the transaction, the insider now owns 13,950 shares in the company, valued at $1,848,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David W. Gryska sold 16,756 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $116.60, for a total transaction of $1,953,749.60. Following the completion of the transaction, the chief financial officer now owns 35,771 shares of the company’s stock, valued at approximately $4,170,898.60. The disclosure for this sale can be found here. Insiders sold 46,363 shares of company stock valued at $5,740,346 in the last ninety days. Insiders own 17.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in INCY. Quantbot Technologies LP boosted its position in Incyte Corporation by 30,032.7% in the first quarter. Quantbot Technologies LP now owns 14,765 shares of the biopharmaceutical company’s stock valued at $1,973,000 after buying an additional 14,716 shares during the period. Legal & General Group Plc boosted its position in Incyte Corporation by 11.5% in the first quarter. Legal & General Group Plc now owns 738,591 shares of the biopharmaceutical company’s stock valued at $98,727,000 after buying an additional 76,447 shares during the period. Xact Kapitalforvaltning AB boosted its position in Incyte Corporation by 2.1% in the second quarter. Xact Kapitalforvaltning AB now owns 27,196 shares of the biopharmaceutical company’s stock valued at $3,424,000 after buying an additional 556 shares during the period. Clough Capital Partners L P bought a new position in Incyte Corporation during the first quarter valued at $789,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Incyte Corporation by 18.0% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 39,604 shares of the biopharmaceutical company’s stock valued at $4,987,000 after buying an additional 6,046 shares during the period. Institutional investors own 91.04% 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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