Q3 2016 EPS Estimates for Incyte Corp. (INCY) Boosted by Jefferies Group
Incyte Corp. (NASDAQ:INCY) – Analysts at Jefferies Group upped their Q3 2016 EPS estimates for shares of Incyte Corp. in a report released on Wednesday. Jefferies Group analyst B. Abrahams now expects that the firm will earn $0.03 per share for the quarter, up from their previous estimate of ($0.10). Jefferies Group currently has a “Buy” rating and a $98.00 target price on the stock. Jefferies Group also issued estimates for Incyte Corp.’s FY2016 earnings at $0.27 EPS, FY2018 earnings at $1.90 EPS, FY2019 earnings at $2.61 EPS and FY2020 earnings at $3.58 EPS.
Incyte Corp. (NASDAQ:INCY) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.20. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. The company earned $208 million during the quarter, compared to the consensus estimate of $236.91 million. During the same period in the previous year, the firm posted $0.05 earnings per share. Incyte Corp.’s quarterly revenue was up 51.1% compared to the same quarter last year.
A number of other research analysts have also weighed in on INCY. Piper Jaffray Cos. set a $102.00 target price on shares of Incyte Corp. and gave the stock a “buy” rating in a research report on Tuesday, August 16th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Incyte Corp. in a research report on Wednesday, June 29th. SunTrust Banks Inc. initiated coverage on shares of Incyte Corp. in a research report on Friday, August 5th. They set a “buy” rating and a $105.00 target price for the company. Zacks Investment Research raised shares of Incyte Corp. from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Tuesday, July 19th. Finally, Leerink Swann reissued a “buy” rating on shares of Incyte Corp. in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have issued a buy rating to the company’s stock. Incyte Corp. has an average rating of “Buy” and an average target price of $103.79.
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Shares of Incyte Corp. (NASDAQ:INCY) traded up 1.31% during trading on Friday, reaching $96.02. The company’s stock had a trading volume of 1,354,749 shares. The company’s 50-day moving average price is $84.77 and its 200 day moving average price is $80.67. Incyte Corp. has a 1-year low of $55.00 and a 1-year high of $124.98. The stock has a market capitalization of $18.05 billion, a price-to-earnings ratio of 260.92 and a beta of 0.54.
In other Incyte Corp. news, EVP Paula J. Swain sold 20,000 shares of the company’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $90.00, for a total transaction of $1,800,000.00. Following the sale, the executive vice president now directly owns 49,248 shares of the company’s stock, valued at $4,432,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Reid M. Huber sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $87.96, for a total transaction of $879,600.00. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Incyte Corp. during the second quarter valued at $104,000. Acrospire Investment Management LLC boosted its stake in Incyte Corp. by 18.2% in the second quarter. Acrospire Investment Management LLC now owns 1,300 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 200 shares during the period. Seven Eight Capital LLC bought a new stake in Incyte Corp. during the first quarter valued at approximately $113,000. Walleye Trading LLC bought a new stake in Incyte Corp. during the second quarter valued at approximately $120,000. Finally, Fifth Third Bancorp boosted its stake in Incyte Corp. by 16.2% in the second quarter. Fifth Third Bancorp now owns 1,678 shares of the biopharmaceutical company’s stock valued at $134,000 after buying an additional 234 shares during the period. 92.32% of the stock is currently owned by hedge funds and other institutional investors.
Incyte Corp. Company Profile
Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK).
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