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.
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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).
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