Incyte Corp. Given Neutral Rating at Zacks (INCY)
Incyte Corp. (NASDAQ:INCY)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Friday, Analyst Ratings Network reports. They currently have a $43.00 price target on the stock. Zacks‘ target price suggests a potential upside of 5.34% from the company’s current price.
Zacks‘ analyst wrote, “Incyte reported earnings of $0.05 per share in the second quarter of 2013, above the year-ago earnings of $0.03 but below the Zacks Consensus Estimate of $0.08 per share. The company now expects 2013 Jakafi sales in the range of $220-$230 million. Jakafi has performed well since launch and is expected to keep doing so going forward. We are encouraged by the company’s efforts to expand Jakafi’s label. In Aug 2013 the company’s share prices were up significantly following the positive results from the RECAP study on Jakafi (pancreatic cancer). However, we remain concerned about Incyte’s dependence on a single product for growth. We retain our Neutral recommendation on the stock.”
Incyte Corp. (NASDAQ:INCY) traded down 1.32% on Friday, hitting $40.28. The stock had a trading volume of 595,360 shares. Incyte Corp. has a 52 week low of $15.43 and a 52 week high of $41.24. The stock has a 50-day moving average of $35.2 and a 200-day moving average of $25.81. The company’s market cap is $6.165 billion.
Incyte Corp. (NASDAQ:INCY) last announced its earnings results on Thursday, August 1st. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.08 by $0.03. The company had revenue of $101.70 million for the quarter, compared to the consensus estimate of $114.34 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. Analysts expect that Incyte Corp. will post $-0.35 EPS for the current fiscal year.
INCY has been the subject of a number of other recent research reports. Analysts at Brean Capital reiterated a “buy” rating on shares of Incyte Corp. (NASDAQ:INCY) in a research note to investors on Wednesday. They now have a $45.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Incyte Corp. (NASDAQ:INCY) in a research note to investors on Monday, September 23rd. Finally, analysts at Oppenheimer reiterated a “buy” rating on shares of Incyte Corp. (NASDAQ:INCY) in a research note to investors on Friday, September 20th. They now have a $43.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $36.92.
Incyte Corporation (NASDAQ:INCY) is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs to treat serious unmet medical needs.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.