Incyte Given Average Recommendation of “Buy” by Analysts (NASDAQ:INCY)
Shares of Incyte (NASDAQ:INCY) have received a consensus recommendation of “Buy” from the sixteen ratings firms that are presently covering the company, American Banking and Market News reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $62.53.
Incyte (NASDAQ:INCY) opened at 48.54 on Friday. Incyte has a 52-week low of $18.23 and a 52-week high of $70.86. The stock has a 50-day moving average of $49.36 and a 200-day moving average of $54.16. The company’s market cap is $8.137 billion.
Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.17) by $0.04. The company had revenue of $89.80 million for the quarter, compared to the consensus estimate of $97.70 million. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was up 26.3% on a year-over-year basis. On average, analysts predict that Incyte will post $-0.53 earnings per share for the current fiscal year.
In other Incyte news, EVP Richard Levy sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $50.68, for a total transaction of $405,440.00. Following the sale, the executive vice president now directly owns 4,301 shares of the company’s stock, valued at approximately $217,975. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
INCY has been the subject of a number of recent research reports. Analysts at Morgan Stanley reiterated an “underweight” rating on shares of Incyte in a research note on Thursday, May 15th. They now have a $14.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Incyte in a research note on Monday, May 5th. They now have a $54.00 price target on the stock. Finally, analysts at Nomura cut their price target on shares of Incyte from $93.00 to $90.00 in a research note on Friday, May 2nd. They now have a “buy” rating on the stock.
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.
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