Incyte Co. (NASDAQ:INCY) – Analysts at Jefferies Group decreased their FY2018 earnings per share (EPS) estimates for shares of Incyte in a research report issued on Thursday, Zacks Investment Research reports. Jefferies Group analyst B. Abrahams now forecasts that the biopharmaceutical company will post earnings of $1.18 per share for the year, down from their previous estimate of $1.28. Jefferies Group has a “Buy” rating and a $148.00 price objective on the stock.
Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, February 14th. The biopharmaceutical company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.14 by $0.09. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The business had revenue of $326 million for the quarter, compared to analysts’ expectations of $324.90 million. During the same period last year, the business earned $0.29 earnings per share. The company’s quarterly revenue was up 33.9% on a year-over-year basis.
Several other equities analysts have also recently issued reports on INCY. Raymond James Financial, Inc. cut Incyte from an “outperform” rating to a “hold” rating in a report on Thursday, April 6th. Zacks Investment Research raised Incyte from a “sell” rating to a “hold” rating in a report on Tuesday. SunTrust Banks, Inc. decreased their price objective on Incyte from $160.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday. Gabelli assumed coverage on Incyte in a report on Monday, April 10th. They issued a “buy” rating and a $185.00 price objective for the company. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $149.00 price objective (up previously from $135.00) on shares of Incyte in a report on Thursday, February 16th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $139.40.
Incyte (NASDAQ:INCY) traded down 0.08% during midday trading on Friday, hitting $123.01. The company had a trading volume of 1,818,883 shares. Incyte has a 52 week low of $68.03 and a 52 week high of $153.15. The stock has a market capitalization of $23.30 billion, a PE ratio of 227.80 and a beta of 0.78. The stock has a 50 day moving average price of $138.77 and a 200-day moving average price of $114.39.
In other Incyte news, EVP Steven H. Stein sold 32,000 shares of the stock in a transaction that occurred on Friday, April 7th. The stock was sold at an average price of $137.88, for a total transaction of $4,412,160.00. Following the completion of the transaction, the executive vice president now owns 41,648 shares of the company’s stock, valued at $5,742,426.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jean Jacques Bienaime bought 1,000 shares of Incyte stock in a transaction on Thursday, April 13th. The shares were purchased at an average cost of $139.66 per share, with a total value of $139,660.00. Following the acquisition, the director now directly owns 3,177 shares of the company’s stock, valued at $443,699.82. The disclosure for this purchase can be found here. Insiders have sold 127,571 shares of company stock valued at $18,145,772 in the last three months. Insiders own 13.70% of the company’s stock.
Several large investors have recently bought and sold shares of INCY. BlackRock Institutional Trust Company N.A. raised its stake in Incyte by 3.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,269,170 shares of the biopharmaceutical company’s stock worth $402,540,000 after buying an additional 125,739 shares during the period. BB Biotech AG raised its stake in Incyte by 1.0% in the third quarter. BB Biotech AG now owns 3,879,822 shares of the biopharmaceutical company’s stock worth $365,828,000 after buying an additional 39,416 shares during the period. Shelton Capital Management raised its stake in Incyte by 30,859.4% in the fourth quarter. Shelton Capital Management now owns 3,595,000 shares of the biopharmaceutical company’s stock worth $1,164,000 after buying an additional 3,583,388 shares during the period. Franklin Resources Inc. raised its stake in Incyte by 5.6% in the fourth quarter. Franklin Resources Inc. now owns 2,959,613 shares of the biopharmaceutical company’s stock worth $296,778,000 after buying an additional 157,191 shares during the period. Finally, Norges Bank bought a new stake in Incyte during the fourth quarter worth about $180,561,000. Institutional investors and hedge funds own 92.62% of the company’s stock.
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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