Incyte (NASDAQ:INCY)‘s stock had its “buy” rating reissued by equities research analysts at Raymond James Financial in a research report issued to clients and investors on Tuesday.

INCY has been the topic of several other research reports. BMO Capital Markets reissued an “outperform” rating and set a $163.00 price target (down previously from $172.00) on shares of Incyte in a research report on Monday, September 11th. Oppenheimer restated a “hold” rating and issued a $135.00 price objective on shares of Incyte in a report on Sunday, September 10th. Goldman Sachs Group initiated coverage on shares of Incyte in a report on Friday, October 6th. They issued a “buy” rating and a $160.00 price objective on the stock. ValuEngine lowered shares of Incyte from a “hold” rating to a “sell” rating in a report on Wednesday, November 29th. Finally, Evercore ISI initiated coverage on shares of Incyte in a report on Wednesday, August 16th. They issued an “in-line” rating and a $135.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $145.65.

Shares of Incyte (INCY) traded down $1.85 during mid-day trading on Tuesday, hitting $95.40. 1,548,638 shares of the stock traded hands, compared to its average volume of 1,906,698. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.81 and a current ratio of 4.82. Incyte has a 1 year low of $92.91 and a 1 year high of $153.15.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share 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 analysts’ expectations of $360.34 million. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. The company’s revenue was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. analysts forecast that Incyte will post -1.33 earnings per share for the current year.

In other Incyte news, EVP Reid M. Huber sold 696 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $98.01, for a total transaction of $68,214.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 714 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $124.25, for a total transaction of $88,714.50. Following the sale, the executive vice president now owns 15,496 shares in the company, valued at $1,925,378. The disclosure for this sale can be found here. Insiders have sold 104,334 shares of company stock worth $11,992,011 over the last quarter. Insiders own 17.70% of the company’s stock.

A number of large investors have recently modified their holdings of INCY. Vanguard Group Inc. grew its position in shares of Incyte by 11.1% during the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock worth $2,156,276,000 after buying an additional 1,709,685 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Incyte during the third quarter worth about $125,065,000. Janus Henderson Group PLC grew its position in shares of Incyte by 4,570.1% during the second 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 in the last quarter. Old Mutual Global Investors UK Ltd. grew its position in shares of Incyte by 374.4% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock worth $108,605,000 after buying an additional 734,235 shares in the last quarter. Finally, Jennison Associates LLC grew its position in shares of Incyte by 64.1% during the second quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock worth $165,443,000 after buying an additional 513,423 shares in the last quarter. Institutional investors own 90.86% of the company’s stock.

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About Incyte

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).

Analyst Recommendations for Incyte (NASDAQ:INCY)

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