Incyte Receives Average Recommendation of “Buy” from Brokerages (NASDAQ:INCY)
Shares of Incyte (NASDAQ:INCY) have earned a consensus recommendation of “Buy” from the sixteen brokerages that are covering the stock, American Banking & Market News reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $62.53.
In other Incyte news, EVP James M. Daly unloaded 11,111 shares of Incyte stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $56.03, for a total transaction of $622,549.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Incyte (NASDAQ:INCY) opened at 56.44 on Tuesday. Incyte has a 1-year low of $22.08 and a 1-year high of $70.86. The stock’s 50-day moving average is $52.68 and its 200-day moving average is $55.85. The company’s market cap is $9.461 billion.
Incyte (NASDAQ:INCY) last released its earnings data 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. Analysts expect that Incyte will post $-0.44 EPS for the current fiscal year.
A number of research firms have recently commented on INCY. Analysts at Nomura reiterated a “buy” rating on shares of Incyte in a research note on Monday, June 2nd. They now have a $90.00 price target on the stock. Separately, 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. Finally, 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.
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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