Incyte Corporation (NASDAQ:INCY) – Gabelli decreased their FY2021 earnings per share estimates for Incyte Corporation in a report released on Wednesday. Gabelli analyst J. He now expects that the biopharmaceutical company will post earnings of $5.00 per share for the year, down from their prior estimate of $5.20.

A number of other analysts have also issued reports on INCY. Oppenheimer Holdings, Inc. set a $135.00 target price on Incyte Corporation and gave the company a “hold” rating in a research report on Tuesday. BMO Capital Markets boosted their target price on Incyte Corporation from $162.00 to $166.00 and gave the company an “outperform” rating in a research report on Tuesday. J P Morgan Chase & Co reissued a “buy” rating on shares of Incyte Corporation in a research report on Tuesday. Goldman Sachs Group, Inc. (The) began coverage on Incyte Corporation in a research report on Friday, October 6th. They issued a “buy” rating and a $160.00 target price on the stock. Finally, Jefferies Group LLC reissued a “buy” rating on shares of Incyte Corporation in a research report on Friday, October 6th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $144.98.

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Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.11. Incyte Corporation had a negative return on equity of 12.91% and a negative net margin of 10.90%. The firm had revenue of $381.50 million for the quarter, compared to the consensus estimate of $360.34 million. During the same period in the prior year, the business posted $0.19 earnings per share. The company’s revenue for the quarter was up 41.6% on a year-over-year basis.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Incyte Corporation by 11.1% in the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock valued at $2,156,276,000 after buying an additional 1,709,685 shares in the last quarter. Capital International Investors increased its holdings in Incyte Corporation by 4.0% in the second quarter. Capital International Investors now owns 6,407,197 shares of the biopharmaceutical company’s stock valued at $806,730,000 after buying an additional 246,134 shares in the last quarter. BB Biotech AG increased its holdings in Incyte Corporation by 0.7% in the second quarter. BB Biotech AG now owns 3,514,822 shares of the biopharmaceutical company’s stock valued at $442,551,000 after buying an additional 25,000 shares in the last quarter. Matrix Capital Management Company LP increased its holdings in Incyte Corporation by 28.3% in the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock valued at $226,225,000 after buying an additional 396,716 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in Incyte Corporation by 10.7% in the second quarter. UBS Asset Management Americas Inc. now owns 1,636,035 shares of the biopharmaceutical company’s stock valued at $205,993,000 after buying an additional 158,574 shares in the last quarter. 88.85% of the stock is owned by institutional investors.

In related news, President Herve Hoppenot sold 70,502 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $119.45, for a total transaction of $8,421,463.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Trower sold 3,000 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $125.25, for a total transaction of $375,750.00. Following the transaction, the insider now directly owns 11,853 shares of the company’s stock, valued at $1,484,588.25. The disclosure for this sale can be found here. Insiders have sold 101,147 shares of company stock valued at $12,615,101 over the last three months. 17.70% of the stock is currently owned by corporate insiders.

About Incyte Corporation

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).

Earnings History and Estimates for Incyte Corporation (NASDAQ:INCY)

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