Incyte Co. (NASDAQ:INCY) was downgraded by investment analysts at Raymond James Financial, Inc. from an “outperform” rating to a “hold” rating in a research report issued to clients and investors on Thursday, April 6th.
INCY has been the topic of several other reports. Cowen and Company reaffirmed an “outperform” rating on shares of Incyte in a research report on Thursday, January 12th. Goldman Sachs Group Inc upped their target price on Incyte from $116.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, January 27th. Nomura started coverage on Incyte in a research report on Wednesday, March 1st. They set a “buy” rating on the stock. Royal Bank of Canada upped their target price on Incyte from $123.00 to $138.00 and gave the company an “outperform” rating in a research report on Wednesday, February 15th. Finally, JMP Securities reaffirmed an “outperform” rating and set a $130.00 target price on shares of Incyte in a research report on Wednesday, January 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $139.40.
Shares of Incyte (NASDAQ:INCY) opened at 121.585 on Thursday. The stock has a 50 day moving average of $134.25 and a 200 day moving average of $116.61. The company has a market cap of $23.03 billion, a price-to-earnings ratio of 225.157 and a beta of 0.78. Incyte has a 1-year low of $68.03 and a 1-year high of $153.15.
Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The firm earned $384.08 million during the quarter, compared to analysts’ expectations of $359.19 million. Incyte had a return on equity of 50.38% and a net margin of 14.71%. The firm’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 EPS. Analysts predict that Incyte will post ($0.23) EPS for the current year.
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In other news, Director Paul A. Friedman sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $148.72, for a total value of $7,436,000.00. Following the transaction, the director now owns 302,976 shares in the company, valued at $45,058,590.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Eric H. Siegel sold 1,820 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $124.73, for a total value of $227,008.60. Following the completion of the transaction, the executive vice president now owns 18,744 shares in the company, valued at approximately $2,337,939.12. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 2,500 shares of company stock worth $341,270 and have sold 129,391 shares worth $18,372,780. Corporate insiders own 13.70% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Rothschild Investment Corp IL bought a new stake in Incyte during the third quarter valued at approximately $219,000. Acadian Asset Management LLC boosted its stake in Incyte by 256.0% in the third quarter. Acadian Asset Management LLC now owns 22,398 shares of the biopharmaceutical company’s stock valued at $2,113,000 after buying an additional 16,106 shares in the last quarter. Nationwide Fund Advisors boosted its stake in Incyte by 46.9% in the third quarter. Nationwide Fund Advisors now owns 117,435 shares of the biopharmaceutical company’s stock valued at $11,073,000 after buying an additional 37,500 shares in the last quarter. Grandfield & Dodd LLC boosted its stake in Incyte by 4.4% in the third quarter. Grandfield & Dodd LLC now owns 6,713 shares of the biopharmaceutical company’s stock valued at $633,000 after buying an additional 280 shares in the last quarter. Finally, Shikiar Asset Management Inc. bought a new stake in Incyte during the third quarter valued at approximately $3,738,000. 92.62% of the stock is owned by hedge funds and other institutional investors.
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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