Incyte Corporation (INCY) Given Buy Rating at J P Morgan Chase & Co
Incyte Corporation (NASDAQ:INCY)‘s stock had its “buy” rating reissued by equities research analysts at J P Morgan Chase & Co in a research note issued on Tuesday.
INCY has been the subject of several other reports. BidaskClub downgraded Incyte Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. BMO Capital Markets dropped their target price on Incyte Corporation from $163.00 to $162.00 and set an “outperform” rating for the company in a research report on Thursday, October 26th. Cowen and Company reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Incyte Corporation in a research report on Monday, July 3rd. Barclays PLC reaffirmed an “overweight” rating and issued a $165.00 target price (down from $180.00) on shares of Incyte Corporation in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $165.00 target price on shares of Incyte Corporation in a research report on Tuesday, July 4th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Incyte Corporation presently has a consensus rating of “Buy” and a consensus target price of $144.80.
Incyte Corporation (NASDAQ:INCY) traded down 1.00% on Tuesday, hitting $113.10. 1,646,297 shares of the stock were exchanged. Incyte Corporation has a 52-week low of $83.01 and a 52-week high of $153.15. The firm’s market cap is $23.27 billion. The stock’s 50 day moving average price is $115.21 and its 200 day moving average price is $124.22.
Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.11. The firm had revenue of $381.50 million for the quarter, compared to analyst estimates of $360.34 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. Incyte Corporation’s revenue was up 41.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. Equities research analysts forecast that Incyte Corporation will post ($0.82) earnings per share for the current year.
In other Incyte Corporation news, EVP Barry P. Flannelly sold 714 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $124.25, for a total value of $88,714.50. Following the completion of the transaction, the executive vice president now owns 15,496 shares in the company, valued at $1,925,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Herve Hoppenot sold 70,502 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $119.45, for a total value of $8,421,463.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,147 shares of company stock valued at $12,615,101. 17.70% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Thrivent Financial For Lutherans acquired a new stake in Incyte Corporation in the first quarter valued at $865,000. Dimensional Fund Advisors LP lifted its position in Incyte Corporation by 18.1% during the first quarter. Dimensional Fund Advisors LP now owns 464,549 shares of the biopharmaceutical company’s stock worth $62,105,000 after buying an additional 71,111 shares during the period. Highbridge Capital Management LLC lifted its position in Incyte Corporation by 22.5% during the first quarter. Highbridge Capital Management LLC now owns 3,570 shares of the biopharmaceutical company’s stock worth $478,000 after buying an additional 655 shares during the period. AQR Capital Management LLC lifted its position in Incyte Corporation by 1,626.0% during the first quarter. AQR Capital Management LLC now owns 94,928 shares of the biopharmaceutical company’s stock worth $12,689,000 after buying an additional 89,428 shares during the period. Finally, First American Trust FSB purchased a new position in Incyte Corporation during the second quarter worth about $4,768,000. Hedge funds and other institutional investors own 88.85% 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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