Incyte Corporation (NASDAQ:INCY) has been assigned a consensus recommendation of “Buy” from the twenty-seven brokerages that are covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $142.45.
Several brokerages recently weighed in on INCY. Jefferies Group LLC reissued a “buy” rating and set a $148.00 price target (down previously from $165.00) on shares of Incyte Corporation in a research report on Monday, April 17th. Raymond James Financial, Inc. reissued a “hold” rating on shares of Incyte Corporation in a research report on Monday, April 17th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $124.00 target price on shares of Incyte Corporation in a research report on Monday, April 17th. BidaskClub raised shares of Incyte Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Zacks Investment Research raised shares of Incyte Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd.
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Incyte Corporation (NASDAQ INCY) traded up 1.62% during trading on Friday, hitting $124.10. The stock had a trading volume of 898,025 shares. Incyte Corporation has a 1-year low of $75.52 and a 1-year high of $153.15. The company’s market capitalization is $25.53 billion. The stock’s 50-day moving average price is $130.96 and its 200-day moving average price is $129.40.
Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $326.40 million for the quarter, compared to the consensus estimate of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. Incyte Corporation’s revenue was up 32.5% on a year-over-year basis. During the same period last year, the business earned $0.18 EPS. Analysts expect that Incyte Corporation will post ($0.89) earnings per share for the current year.
In related news, EVP Eric H. Siegel sold 1,820 shares of Incyte Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $132.92, for a total transaction of $241,914.40. Following the transaction, the executive vice president now owns 23,553 shares in the company, valued at approximately $3,130,664.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David W. Gryska sold 16,756 shares of Incyte Corporation stock in a transaction on Monday, June 12th. The shares were sold at an average price of $116.60, for a total transaction of $1,953,749.60. Following the transaction, the chief financial officer now owns 35,771 shares in the company, valued at approximately $4,170,898.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,183 shares of company stock worth $5,976,946. 17.70% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. UBS Asset Management Americas Inc. boosted its stake in shares of Incyte Corporation by 6.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,192,665 shares of the biopharmaceutical company’s stock valued at $119,588,000 after buying an additional 70,817 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Incyte Corporation by 6.5% in the fourth quarter. Teachers Advisors LLC now owns 454,491 shares of the biopharmaceutical company’s stock valued at $45,572,000 after buying an additional 27,718 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Incyte Corporation by 156.6% in the fourth quarter. Macquarie Group Ltd. now owns 107,073 shares of the biopharmaceutical company’s stock valued at $10,736,000 after buying an additional 65,344 shares during the last quarter. Lau Associates LLC boosted its stake in shares of Incyte Corporation by 18.8% in the first quarter. Lau Associates LLC now owns 11,392 shares of the biopharmaceutical company’s stock valued at $1,523,000 after buying an additional 1,803 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. bought a new stake in shares of Incyte Corporation during the first quarter valued at approximately $20,298,000. Institutional investors and hedge funds own 91.73% of the company’s stock.
About Incyte Corporation
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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