Incyte Co. (NASDAQ:INCY) – Equities research analysts at Gabelli lifted their FY2020 EPS estimates for Incyte in a research report issued to clients and investors on Wednesday. Gabelli analyst J. He now expects that the biopharmaceutical company will earn $4.35 per share for the year, up from their previous estimate of $4.30.
A number of other equities analysts have also recently issued reports on the stock. Deutsche Bank initiated coverage on shares of Incyte in a research note on Tuesday, December 12th. They issued a “hold” rating and a $106.00 price objective for the company. Zacks Investment Research cut shares of Incyte from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. BMO Capital Markets dropped their price objective on shares of Incyte from $163.00 to $162.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th. Raymond James Financial restated a “buy” rating on shares of Incyte in a research note on Tuesday, December 12th. Finally, Royal Bank of Canada dropped their price objective on shares of Incyte from $136.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $143.71.
Incyte (NASDAQ:INCY) last announced its quarterly earnings data 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 prior year, the company posted $0.19 EPS. The business’s revenue was up 41.6% on a year-over-year basis.
In other Incyte news, insider David W. Gryska sold 3,915 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $105.63, for a total transaction of $413,541.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Vijay K. Iyengar sold 5,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $97.26, for a total transaction of $486,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 44,878 shares of company stock valued at $4,636,494 in the last quarter. 17.70% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of INCY. Riverhead Capital Management LLC grew its holdings in Incyte by 22.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,030 shares of the biopharmaceutical company’s stock worth $381,000 after acquiring an additional 546 shares during the last quarter. Seven Eight Capital LP bought a new stake in Incyte during the 2nd quarter worth about $129,000. Ameriprise Financial Inc. grew its holdings in Incyte by 6.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 228,079 shares of the biopharmaceutical company’s stock worth $28,722,000 after acquiring an additional 13,564 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Incyte by 17.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 36,123 shares of the biopharmaceutical company’s stock worth $4,549,000 after acquiring an additional 5,284 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in Incyte by 55.8% during the 2nd quarter. Rafferty Asset Management LLC now owns 12,111 shares of the biopharmaceutical company’s stock worth $1,525,000 after acquiring an additional 4,340 shares during the last quarter. 90.76% of the stock is currently owned by hedge funds and other institutional investors.
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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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