Incyte Co. (NASDAQ:INCY) – Analysts at SunTrust Banks lifted their FY2017 earnings per share estimates for shares of Incyte in a research report issued on Thursday. SunTrust Banks analyst P. Lawson now anticipates that the biopharmaceutical company will post earnings per share of ($1.22) for the year, up from their previous forecast of ($1.46). SunTrust Banks also issued estimates for Incyte’s Q4 2017 earnings at ($0.41) EPS, Q1 2018 earnings at $0.10 EPS, Q3 2018 earnings at $0.04 EPS, Q4 2018 earnings at ($0.04) EPS, FY2018 earnings at $0.14 EPS and FY2019 earnings at $1.40 EPS.
Several other research firms also recently weighed in on INCY. BMO Capital Markets dropped their target price on Incyte from $163.00 to $162.00 and set an “outperform” rating for the company 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 began coverage on Incyte in a research report on Friday, October 6th. They issued a “buy” rating and a $160.00 target price for the company. Jefferies Group reaffirmed a “buy” rating on shares of Incyte in a research report on Friday, October 6th. Finally, Oppenheimer set a $135.00 target price on Incyte and gave the company a “hold” rating in a research report on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Incyte presently has an average rating of “Buy” and an average price target of $143.25.
Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. The firm had revenue of $381.50 million during the quarter, compared to the consensus estimate of $360.34 million. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The company’s quarterly revenue was up 41.6% on a year-over-year basis. During the same period last year, the company earned $0.19 EPS.
A number of hedge funds have recently bought and sold shares of INCY. Manning & Napier Advisors LLC purchased a new stake in Incyte during the third quarter worth approximately $125,065,000. Janus Henderson Group PLC lifted its stake in 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 purchasing an additional 1,022,979 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its stake in 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 purchasing an additional 734,235 shares during the last quarter. Matrix Capital Management Company LP lifted its stake in 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 purchasing an additional 396,716 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in 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 purchasing an additional 319,191 shares during the last quarter. Hedge funds and other institutional investors own 90.75% of the company’s stock.
In related news, Director Paul A. Friedman sold 28,507 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $105.24, for a total transaction of $3,000,076.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David W. Gryska sold 6,760 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $98.87, for a total value of $668,361.20. Following the sale, the insider now owns 20,752 shares of the company’s stock, valued at approximately $2,051,750.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,878 shares of company stock valued at $4,636,494. 17.70% of the stock is owned by company insiders.
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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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