Incyte (INCY) Now Covered by Deutsche Bank
Stock analysts at Deutsche Bank initiated coverage on shares of Incyte (NASDAQ:INCY) in a report issued on Tuesday, The Fly reports. The firm set a “hold” rating on the biopharmaceutical company’s stock.
Several other research firms have also recently weighed in on INCY. Argus restated a “buy” rating and issued a $150.00 price objective on shares of Incyte in a research report on Wednesday, September 13th. J P Morgan Chase & Co restated a “buy” rating on shares of Incyte in a research report on Wednesday, October 25th. Goldman Sachs Group started coverage on shares of Incyte in a research report on Friday, October 6th. They issued a “buy” rating and a $160.00 price objective for the company. Jefferies Group restated a “buy” rating on shares of Incyte in a research report on Friday, October 6th. Finally, Cowen restated a “buy” rating on shares of Incyte in a research report on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $145.65.
Incyte (NASDAQ INCY) traded down $1.85 during trading hours on Tuesday, hitting $95.40. 1,548,638 shares of the stock were exchanged, compared to its average volume of 1,906,698. Incyte has a 52 week low of $92.91 and a 52 week high of $153.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.82 and a quick ratio of 4.81.
Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. The company had revenue of $381.50 million during the quarter, compared to analysts’ expectations of $360.34 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. Incyte’s quarterly revenue was up 41.6% compared to the same quarter last year. sell-side analysts anticipate that Incyte will post -1.33 EPS for the current year.
In other Incyte news, EVP Barry P. Flannelly sold 714 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $124.25, for a total transaction of $88,714.50. Following the completion of the sale, the executive vice president now owns 15,496 shares in the company, valued at approximately $1,925,378. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Herve Hoppenot sold 70,502 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $119.45, for a total transaction of $8,421,463.90. The disclosure for this sale can be found here. Insiders have sold a total of 104,334 shares of company stock valued at $11,992,011 in the last quarter. Corporate insiders own 17.70% of the company’s stock.
Several institutional investors have recently modified their holdings of INCY. Vanguard Group Inc. raised its position in shares of Incyte by 11.1% during the 2nd quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock valued at $2,156,276,000 after acquiring an additional 1,709,685 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Incyte in the 3rd quarter valued at $125,065,000. Janus Henderson Group PLC grew its holdings in shares of Incyte by 4,570.1% in the 2nd quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock valued at $131,622,000 after buying an additional 1,022,979 shares during the period. Old Mutual Global Investors UK Ltd. grew its holdings in shares of Incyte by 374.4% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock valued at $108,605,000 after buying an additional 734,235 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Incyte by 64.1% in the 2nd quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock valued at $165,443,000 after buying an additional 513,423 shares during the period. Institutional investors own 90.86% of the company’s stock.
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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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