Incyte Co. (NASDAQ:INCY)‘s stock had its “buy” rating reissued by investment analysts at Cowen and Company in a report released on Friday, May 5th.
The analysts wrote, “Incyte reported Q1 financials and provided a pipeline update.””
A number of other equities research analysts have also recently weighed in on INCY. BMO Capital Markets restated a “buy” rating and issued a $135.00 price objective (up previously from $122.00) on shares of Incyte in a report on Tuesday, January 10th. JMP Securities restated an “outperform” rating and issued a $130.00 price objective on shares of Incyte in a report on Wednesday, January 18th. Barclays PLC increased their price target on shares of Incyte from $105.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 19th. Credit Suisse Group AG started coverage on shares of Incyte in a report on Monday, January 23rd. They set an “outperform” rating and a $137.00 price target on the stock. Finally, Goldman Sachs Group Inc increased their price target on shares of Incyte from $116.00 to $149.00 and gave the company a “buy” rating in a report on Friday, January 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $139.93.
Incyte (NASDAQ:INCY) traded up 2.04% during mid-day trading on Friday, reaching $131.43. The company’s stock had a trading volume of 3,856,544 shares. Incyte has a 52-week low of $71.75 and a 52-week high of $153.15. The stock’s market cap is $26.91 billion. The company has a 50 day moving average of $126.97 and a 200-day moving average of $119.23.
Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.97) by $0.01. The business had revenue of $384.08 million for the quarter, compared to analysts’ expectations of $359.19 million. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The business’s revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 earnings per share. Equities analysts forecast that Incyte will post ($0.76) earnings per share for the current year.
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In other Incyte news, Director Jean Jacques Bienaime acquired 1,000 shares of the company’s stock in a transaction on Friday, April 7th. The stock was acquired at an average cost of $139.48 per share, with a total value of $139,480.00. Following the purchase, the director now directly owns 2,177 shares of the company’s stock, valued at approximately $303,647.96. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Paul A. Friedman sold 50,000 shares of Incyte stock in a transaction on 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 directly owns 302,976 shares of the company’s stock, valued at $45,058,590.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 3,000 shares of company stock valued at $398,770 and have sold 137,968 shares valued at $19,395,245. Company insiders own 13.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new stake in Incyte during the first quarter valued at about $105,000. FNY Partners Fund LP raised its stake in Incyte by 4,825.0% in the first quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 965 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Incyte by 1.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,322 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 22 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Incyte by 6.8% in the first quarter. IFP Advisors Inc now owns 1,043 shares of the biopharmaceutical company’s stock worth $139,000 after buying an additional 66 shares during the last quarter. Finally, Howard Hughes Medical Institute raised its stake in shares of Incyte by 42.2% in the first quarter. Howard Hughes Medical Institute now owns 1,210 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 359 shares during the last quarter. Hedge funds and other institutional investors 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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