Incyte Corp. (INCY) Given “Outperform” Rating at Cowen and Company
Incyte Corp. (NASDAQ:INCY)‘s stock had its “outperform” rating reissued by equities researchers at Cowen and Company in a report issued on Wednesday.
INCY has been the subject of a number of other research reports. JMP Securities restated an “outperform” rating and set a $100.00 price objective on shares of Incyte Corp. in a report on Wednesday, June 15th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Incyte Corp. in a research note on Wednesday, June 29th. Royal Bank Of Canada started coverage on shares of Incyte Corp. in a research note on Tuesday, July 12th. They issued an “outperform” rating and a $105.00 target price for the company. Leerink Swann reiterated a “buy” rating on shares of Incyte Corp. in a research note on Monday, July 18th. Finally, Zacks Investment Research upgraded shares of Incyte Corp. from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have given a buy rating to the company. Incyte Corp. has an average rating of “Buy” and a consensus price target of $105.79.
Shares of Incyte Corp. (NASDAQ:INCY) opened at 92.11 on Wednesday. The firm’s 50-day moving average is $86.25 and its 200-day moving average is $81.33. Incyte Corp. has a 12-month low of $55.00 and a 12-month high of $124.98. The company has a market capitalization of $17.32 billion, a PE ratio of 250.30 and a beta of 0.54.
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Incyte Corp. (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.20. Incyte Corp. had a net margin of 7.87% and a return on equity of 37.76%. The firm had revenue of $208 million for the quarter, compared to analyst estimates of $236.91 million. During the same period last year, the firm earned $0.05 earnings per share. The business’s quarterly revenue was up 51.1% compared to the same quarter last year. On average, equities research analysts anticipate that Incyte Corp. will post $0.19 EPS for the current fiscal year.
In other news, EVP Barry P. Flannelly sold 24,204 shares of Incyte Corp. stock in a transaction on Friday, October 7th. The stock was sold at an average price of $97.00, for a total transaction of $2,347,788.00. Following the completion of the sale, the executive vice president now directly owns 13,595 shares in the company, valued at $1,318,715. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Paula J. Swain sold 20,000 shares of Incyte Corp. stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $90.00, for a total value of $1,800,000.00. Following the sale, the executive vice president now owns 49,248 shares of the company’s stock, valued at $4,432,320. The disclosure for this sale can be found here. 13.70% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in INCY. Candriam Luxembourg S.C.A. increased its stake in Incyte Corp. by 23.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 338,061 shares of the biopharmaceutical company’s stock valued at $27,039,000 after buying an additional 64,709 shares during the period. Capital Fund Management S.A. purchased a new position in shares of Incyte Corp. during the second quarter valued at approximately $33,288,000. Royal Bank of Canada raised its position in shares of Incyte Corp. by 119.9% in the first quarter. Royal Bank of Canada now owns 621,527 shares of the biopharmaceutical company’s stock valued at $45,042,000 after buying an additional 338,904 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Incyte Corp. by 4.8% in the first quarter. Geode Capital Management LLC now owns 1,068,236 shares of the biopharmaceutical company’s stock valued at $77,372,000 after buying an additional 48,498 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC purchased a new position in shares of Incyte Corp. during the second quarter valued at approximately $221,000. Institutional investors and hedge funds own 92.32% of the company’s stock.
About Incyte Corp.
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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