Incyte Co. (INCY) Given Average Rating of “Buy” by Brokerages

Incyte Co. (NASDAQ:INCY) has received a consensus rating of “Buy” from the twenty-eight ratings firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation, seventeen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $143.27.

A number of analysts have recently weighed in on the company. BMO Capital Markets cut their price objective on Incyte from $163.00 to $162.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Incyte in a research report on Wednesday, October 25th. Goldman Sachs Group started coverage on Incyte in a research report on Friday, October 6th. They set a “buy” rating and a $160.00 price objective on the stock. Jefferies Group reissued a “buy” rating on shares of Incyte in a report on Friday, October 6th. Finally, Oppenheimer set a $135.00 target price on Incyte and gave the company a “hold” rating in a report on Tuesday, October 31st.

In other Incyte news, Director Paul A. Friedman sold 28,507 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $105.24, for a total value of $3,000,076.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David W. Gryska sold 3,915 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $105.63, for a total transaction of $413,541.45. The disclosure for this sale can be found here. Insiders sold 44,878 shares of company stock valued at $4,636,494 in the last 90 days. 17.70% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake 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 during the period. Capital International Investors boosted its stake in shares of Incyte by 1.4% during the third quarter. Capital International Investors now owns 6,494,566 shares of the biopharmaceutical company’s stock worth $758,176,000 after buying an additional 87,369 shares during the period. BB Biotech AG boosted its stake in shares of Incyte by 0.7% during the second quarter. BB Biotech AG now owns 3,514,822 shares of the biopharmaceutical company’s stock worth $442,551,000 after buying an additional 25,000 shares during the period. Matrix Capital Management Company LP boosted its stake in shares of Incyte by 28.3% during the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after buying an additional 396,716 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Incyte by 24.3% during the third quarter. Jennison Associates LLC now owns 1,633,173 shares of the biopharmaceutical company’s stock worth $190,657,000 after buying an additional 319,191 shares during the period. Institutional investors own 90.76% of the company’s stock.

Incyte (NASDAQ:INCY) traded up $1.61 during trading on Friday, hitting $91.92. The stock had a trading volume of 2,104,900 shares, compared to its average volume of 1,965,708. Incyte has a 1-year low of $88.81 and a 1-year high of $153.15. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $19,470.00, a price-to-earnings ratio of -114.90 and a beta of 0.74.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. Incyte 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 for the quarter, compared to analyst estimates of $360.34 million. During the same quarter in the prior year, the company earned $0.19 earnings per share. The company’s revenue was up 41.6% on a year-over-year basis. equities research analysts expect that Incyte will post -1.35 EPS for the current year.

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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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