Incyte Corporation (INCY) Price Target Cut to $120.00 by Analysts at Royal Bank Of Canada

Incyte Corporation (NASDAQ:INCY) had its target price lowered by Royal Bank Of Canada from $136.00 to $120.00 in a report issued on Tuesday. The brokerage currently has a sector perform rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently issued reports on INCY. Jefferies Group LLC reiterated a buy rating and issued a $148.00 price target on shares of Incyte Corporation in a research note on Thursday, July 27th. J P Morgan Chase & Co set a $149.00 price objective on shares of Incyte Corporation and gave the stock a buy rating in a report on Tuesday, August 1st. Barclays PLC reissued an overweight rating and set a $165.00 price objective (down previously from $180.00) on shares of Incyte Corporation in a report on Wednesday, August 2nd. BidaskClub cut shares of Incyte Corporation from a buy rating to a hold rating in a report on Friday, August 4th. Finally, Evercore ISI started coverage on shares of Incyte Corporation in a report on Wednesday, August 16th. They issued an in-line rating and a $135.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $145.65.

Incyte Corporation (NASDAQ:INCY) opened at $98.95 on Tuesday. 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 Corporation has a twelve month low of $96.60 and a twelve month high of $153.15.

Incyte Corporation (NASDAQ:INCY) last announced its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.11. Incyte Corporation 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 analyst estimates of $360.34 million. During the same quarter last year, the firm posted $0.19 earnings per share. Incyte Corporation’s revenue was up 41.6% compared to the same quarter last year. equities research analysts forecast that Incyte Corporation will post -1.33 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This story was first published by TrueBlueTribune and is owned by of TrueBlueTribune. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark law. The original version of this story can be viewed at https://www.truebluetribune.com/2017/11/22/incyte-corporation-incy-price-target-cut-to-120-00-by-analysts-at-royal-bank-of-canada.html.

In other Incyte Corporation news, Director Bros. Advisors Lp Baker acquired 100,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was purchased at an average cost of $132.00 per share, for a total transaction of $13,200,000.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul A. Friedman sold 28,507 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $105.24, for a total value of $3,000,076.68. The disclosure for this sale can be found here. Insiders sold a total of 130,569 shares of company stock valued at $15,652,970 in the last quarter. 17.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. IFM Investors Pty Ltd bought a new position in shares of Incyte Corporation in the 3rd quarter valued at approximately $567,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Incyte Corporation during the 3rd quarter worth approximately $503,000. California Public Employees Retirement System grew its holdings in shares of Incyte Corporation by 2.8% during the 3rd quarter. California Public Employees Retirement System now owns 359,272 shares of the biopharmaceutical company’s stock worth $41,941,000 after purchasing an additional 9,672 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Incyte Corporation during the 3rd quarter worth approximately $542,000. Finally, Point72 Asset Management L.P. grew its holdings in shares of Incyte Corporation by 723.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 164,600 shares of the biopharmaceutical company’s stock worth $19,215,000 after purchasing an additional 144,600 shares in the last quarter. 89.60% of the stock is currently owned by institutional investors and hedge funds.

Incyte Corporation 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 Corporation (NASDAQ:INCY)

Receive News & Ratings for Incyte Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply