Incyte Corporation (NASDAQ:INCY) – Equities researchers at Oppenheimer Holdings lifted their FY2021 earnings per share estimates for shares of Incyte Corporation in a report issued on Tuesday. Oppenheimer Holdings analyst J. Olson now expects that the biopharmaceutical company will earn $5.71 per share for the year, up from their prior estimate of $5.41. Oppenheimer Holdings has a “Hold” rating and a $135.00 price target on the stock.

A number of other equities analysts have also weighed in on the company. BMO Capital Markets upped their target price on Incyte Corporation from $162.00 to $166.00 and gave the stock an “outperform” rating in a research report on Tuesday. J P Morgan Chase & Co reaffirmed 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 report on Friday, October 6th. They set a “buy” rating and a $160.00 price target for the company. Jefferies Group LLC reiterated a “buy” rating on shares of Incyte Corporation in a report on Friday, October 6th. Finally, Royal Bank Of Canada began coverage on Incyte Corporation in a report on Thursday, September 14th. They set a “sector perform” rating and a $136.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Incyte Corporation currently has a consensus rating of “Buy” and a consensus price target of $144.98.

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Incyte Corporation (NASDAQ:INCY) last posted its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $381.50 million during the quarter, compared to analysts’ expectations of $360.34 million. During the same period in the prior year, the business earned $0.19 EPS. Incyte Corporation’s revenue for the quarter was up 41.6% compared to the same quarter last year.

In related news, President Herve Hoppenot sold 70,502 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $119.45, for a total transaction of $8,421,463.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bros. Advisors Lp Baker acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were purchased at an average cost of $132.00 per share, for a total transaction of $13,200,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 101,147 shares of company stock worth $12,615,101. 17.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Incyte Corporation by 11.1% during the 2nd quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock worth $2,156,276,000 after acquiring an additional 1,709,685 shares during the last quarter. Capital International Investors grew its position in Incyte Corporation by 4.0% during the 2nd quarter. Capital International Investors now owns 6,407,197 shares of the biopharmaceutical company’s stock worth $806,730,000 after acquiring an additional 246,134 shares during the last quarter. BB Biotech AG grew its position in Incyte Corporation by 0.7% during the 2nd quarter. BB Biotech AG now owns 3,514,822 shares of the biopharmaceutical company’s stock worth $442,551,000 after acquiring an additional 25,000 shares during the last quarter. Matrix Capital Management Company LP grew its position in Incyte Corporation by 28.3% during the 2nd quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after acquiring an additional 396,716 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in Incyte Corporation by 10.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,636,035 shares of the biopharmaceutical company’s stock worth $205,993,000 after acquiring an additional 158,574 shares during the last quarter. Institutional investors and hedge funds 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).

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

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