Incyte Co. (NASDAQ:INCY) has received a consensus rating of “Hold” from the twenty-four ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $92.67.
Several research analysts have recently commented on INCY shares. Royal Bank of Canada lowered Incyte from an “outperform” rating to a “sector perform” rating and set a $89.00 price target for the company. in a research report on Wednesday, April 3rd. They noted that the move was a valuation call. Argus raised their price target on Incyte from $83.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, February 25th. Barclays lowered Incyte from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $90.00 to $82.00 in a research report on Friday, May 3rd. Zacks Investment Research lowered Incyte from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 23rd. Finally, UBS Group lowered Incyte from a “buy” rating to a “neutral” rating and raised their price target for the stock from $75.00 to $82.00 in a research report on Wednesday, January 16th.
Incyte stock traded down $0.24 during mid-day trading on Friday, hitting $75.87. The company’s stock had a trading volume of 45,730 shares, compared to its average volume of 1,426,669. Incyte has a 1 year low of $57.00 and a 1 year high of $88.83. The firm has a market capitalization of $16.24 billion, a price-to-earnings ratio of 92.63 and a beta of 1.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.21 and a current ratio of 5.22.
Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.33 by $0.29. Incyte had a return on equity of 13.28% and a net margin of 12.66%. The business had revenue of $497.86 million during the quarter, compared to analyst estimates of $488.00 million. During the same period last year, the business posted ($0.01) earnings per share. The company’s quarterly revenue was up 30.2% on a year-over-year basis. Analysts forecast that Incyte will post 1.78 EPS for the current year.
In related news, EVP Paula J. Swain sold 10,000 shares of Incyte stock in a transaction on Monday, April 1st. The stock was sold at an average price of $87.01, for a total value of $870,100.00. Following the completion of the transaction, the executive vice president now directly owns 38,295 shares in the company, valued at $3,332,047.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 17.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in Incyte by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 287,924 shares of the biopharmaceutical company’s stock worth $19,889,000 after buying an additional 864 shares in the last quarter. Man Group plc boosted its holdings in Incyte by 167.5% during the third quarter. Man Group plc now owns 36,635 shares of the biopharmaceutical company’s stock worth $2,531,000 after buying an additional 22,938 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Incyte by 18.7% during the third quarter. Nordea Investment Management AB now owns 10,188 shares of the biopharmaceutical company’s stock worth $703,000 after buying an additional 1,607 shares in the last quarter. Legal & General Group Plc boosted its holdings in Incyte by 3.3% during the third quarter. Legal & General Group Plc now owns 777,438 shares of the biopharmaceutical company’s stock worth $53,706,000 after buying an additional 25,136 shares in the last quarter. Finally, Vanguard Group Inc boosted its holdings in Incyte by 0.7% during the third quarter. Vanguard Group Inc now owns 18,380,804 shares of the biopharmaceutical company’s stock worth $1,269,746,000 after buying an additional 120,700 shares in the last quarter. Hedge funds and other institutional investors own 92.20% of the company’s stock.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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