Oppenheimer Reiterates Hold Rating for Incyte (INCY)

Incyte (NASDAQ:INCY)‘s stock had its “hold” rating reaffirmed by investment analysts at Oppenheimer in a note issued to investors on Monday. They currently have a $110.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $120.00. Oppenheimer’s target price indicates a potential upside of 16.92% from the stock’s previous close.

Several other brokerages have also issued reports on INCY. BMO Capital Markets reduced their target price on shares of Incyte from $163.00 to $162.00 and set an “outperform” rating on the stock in a research note on Thursday, October 26th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Incyte in a research note on Wednesday, October 25th. Goldman Sachs Group started coverage on shares of Incyte in a research note 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 research note on Friday, October 6th. Finally, Zacks Investment Research lowered shares of Incyte from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $143.25.

Incyte (NASDAQ INCY) traded up $0.92 on Monday, reaching $94.08. 2,639,035 shares of the company’s stock traded hands, compared to its average volume of 1,610,000. 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 firm has a market cap of $19,850.00, a PE ratio of -117.60 and a beta of 0.74. Incyte has a 52-week low of $88.81 and a 52-week high of $153.15.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.11. The company had revenue of $381.50 million for the quarter, compared to analyst estimates 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 for the quarter was up 41.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 EPS. sell-side analysts expect that Incyte will post -1.33 EPS for the current fiscal year.

In related news, EVP Vijay K. Iyengar sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $97.26, for a total transaction of $486,300.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David W. Gryska sold 3,915 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was 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. Over the last 90 days, insiders have sold 44,878 shares of company stock worth $4,636,494. 17.70% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its holdings in shares of Incyte by 13.8% in the second quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 108 shares during the last quarter. Sun Life Financial INC increased its holdings in shares of Incyte by 9,069.2% in the second quarter. Sun Life Financial INC now owns 1,192 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 1,179 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Incyte in the third quarter valued at $203,000. Caxton Associates LP acquired a new position in shares of Incyte in the third quarter valued at $257,000. Finally, Inverness Counsel LLC NY acquired a new position in shares of Incyte in the third quarter valued at $330,000. Hedge funds and other institutional investors own 90.75% of the company’s stock.

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Incyte 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).

Analyst Recommendations for Incyte (NASDAQ:INCY)

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