Incyte Corporation (INCY) Rating Reiterated by Argus
Incyte Corporation (NASDAQ:INCY)‘s stock had its “buy” rating reiterated by analysts at Argus in a report released on Wednesday. They presently have a $150.00 price target on the biopharmaceutical company’s stock. Argus’ price objective suggests a potential upside of 21.80% from the stock’s previous close.
Several other research analysts have also weighed in on the company. Morgan Stanley reissued an “overweight” rating and issued a $142.00 price objective on shares of Incyte Corporation in a research report on Friday, May 19th. Jefferies Group LLC reissued a “buy” rating and issued a $148.00 price objective on shares of Incyte Corporation in a research report on Thursday, May 18th. Zacks Investment Research raised Incyte Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $172.00 price objective on shares of Incyte Corporation in a research report on Monday, August 28th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating and issued a $135.00 price objective on shares of Incyte Corporation in a research report on Thursday, August 31st. Seven equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $143.07.
Shares of Incyte Corporation (NASDAQ INCY) traded up 0.20% during midday trading on Wednesday, hitting $123.40. The company’s stock had a trading volume of 593,189 shares. The company has a 50-day moving average price of $129.00 and a 200 day moving average price of $130.50. Incyte Corporation has a 1-year low of $77.58 and a 1-year high of $153.15. The company’s market cap is $25.38 billion.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The business had revenue of $326.40 million during the quarter, compared to the consensus estimate of $318.45 million. During the same period last year, the business posted $0.18 earnings per share. The business’s revenue was up 32.5% on a year-over-year basis. On average, equities research analysts predict that Incyte Corporation will post ($0.84) EPS for the current year.
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In other news, EVP Paula J. Swain sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $140.00, for a total value of $2,800,000.00. Following the transaction, the executive vice president now owns 55,067 shares in the company, valued at approximately $7,709,380. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David W. Gryska sold 599 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $129.74, for a total value of $77,714.26. Following the completion of the transaction, the insider now owns 19,614 shares in the company, valued at approximately $2,544,720.36. The disclosure for this sale can be found here. Insiders have sold a total of 53,538 shares of company stock valued at $7,118,269 over the last three months. Corporate insiders own 17.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in INCY. State Street Corp boosted its stake in shares of Incyte Corporation by 110.7% in the 1st quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock worth $1,013,437,000 after buying an additional 3,983,207 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Incyte Corporation by 22.7% in the 1st quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock worth $2,060,638,000 after buying an additional 2,847,907 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Incyte Corporation by 4,570.1% in the 2nd quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock worth $131,622,000 after buying an additional 1,022,979 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Incyte Corporation in the 1st quarter worth approximately $85,751,000. Finally, Geode Capital Management LLC boosted its stake in shares of Incyte Corporation by 42.0% in the 1st quarter. Geode Capital Management LLC now owns 1,780,064 shares of the biopharmaceutical company’s stock worth $237,618,000 after buying an additional 526,163 shares during the last quarter. Hedge funds and other institutional investors own 91.06% of the company’s stock.
Incyte Corporation Company Profile
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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