Incyte Co. (NASDAQ:INCY) was downgraded by analysts at Raymond James Financial, Inc. from an “outperform” rating to a “hold” rating in a report issued on Thursday.
Several other analysts have also recently weighed in on INCY. BMO Capital Markets reaffirmed an “outperform” rating and set a $149.00 price objective (up from $135.00) on shares of Incyte in a research report on Thursday, February 16th. TheStreet upgraded shares of Incyte from a “c” rating to a “b-” rating in a report on Tuesday, February 14th. Jefferies Group LLC boosted their price objective on shares of Incyte from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, February 15th. Royal Bank of Canada boosted their target price on shares of Incyte from $123.00 to $138.00 and gave the company an “outperform” rating in a research note on Wednesday, February 15th. Finally, Zacks Investment Research downgraded shares of Incyte from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The company 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 Thursday, hitting $123.01. The company’s stock had a trading volume of 1,818,558 shares. The stock has a 50 day moving average of $138.77 and a 200 day moving average of $114.39. The company has a market cap of $23.30 billion, a PE ratio of 227.80 and a beta of 0.78. Incyte has a 52-week low of $68.03 and a 52-week high of $153.15.
Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, February 14th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.09. The firm had revenue of $326 million for the quarter, compared to the consensus estimate of $324.90 million. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The business’s revenue was up 33.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 earnings per share. On average, equities analysts expect that Incyte will post ($0.08) EPS for the current year.
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In other Incyte news, insider David W. Gryska sold 41,528 shares of the company’s stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $138.00, for a total value of $5,730,864.00. Following the transaction, the insider now directly owns 20,754 shares in the company, valued at approximately $2,864,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul A. Friedman sold 50,000 shares of the company’s stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $148.72, for a total transaction of $7,436,000.00. Following the completion of the transaction, the director now owns 302,976 shares in the company, valued at $45,058,590.72. The disclosure for this sale can be found here. Insiders sold a total of 127,571 shares of company stock worth $18,145,772 over the last three months. 13.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors increased its position in shares of Incyte by 12.8% in the first quarter. Nationwide Fund Advisors now owns 264,959 shares of the biopharmaceutical company’s stock worth $35,417,000 after buying an additional 30,069 shares in the last quarter. Covenant Asset Management LLC increased its position in shares of Incyte by 12.0% in the first quarter. Covenant Asset Management LLC now owns 14,050 shares of the biopharmaceutical company’s stock worth $1,878,000 after buying an additional 1,510 shares in the last quarter. Retirement Systems of Alabama bought a new position in shares of Incyte during the first quarter worth approximately $11,382,000. State of Alaska Department of Revenue bought a new position in shares of Incyte during the first quarter worth approximately $290,000. Finally, Hartford Investment Management Co. increased its position in shares of Incyte by 1,701.9% in the first quarter. Hartford Investment Management Co. now owns 39,587 shares of the biopharmaceutical company’s stock worth $5,292,000 after buying an additional 37,390 shares in the last quarter. Institutional investors and hedge funds own 92.62% of the company’s stock.
Incyte 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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