Incyte Corporation (NASDAQ:INCY) – Equities research analysts at Gabelli decreased their FY2020 earnings per share estimates for Incyte Corporation in a note issued to investors on Monday. Gabelli analyst J. He now expects that the biopharmaceutical company will post earnings per share of $4.20 for the year, down from their previous estimate of $4.25. Gabelli has a “Buy” rating and a $174.00 price target on the stock. Gabelli also issued estimates for Incyte Corporation’s FY2021 earnings at $5.20 EPS.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $326.40 million during the quarter, compared to analyst estimates of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 EPS. WARNING: “FY2020 EPS Estimates for Incyte Corporation Reduced by Analyst (INCY)” was originally published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this report on another website, it was illegally copied and republished in violation of U.S. and international copyright law. The original version of this report can be accessed at https://www.chaffeybreeze.com/2017/09/14/fy2020-eps-estimates-for-incyte-corporation-reduced-by-analyst-incy.html.
Several other equities research analysts have also recently weighed in on INCY. BidaskClub cut Incyte Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Argus reissued a “buy” rating and issued a $150.00 price target on shares of Incyte Corporation in a research note on Wednesday. BMO Capital Markets reissued an “outperform” rating and issued a $163.00 price target (down previously from $172.00) on shares of Incyte Corporation in a research note on Monday. Credit Suisse Group restated a “buy” rating on shares of Incyte Corporation in a research report on Saturday, June 10th. Finally, Cowen and Company restated an “outperform” rating and set a $130.00 target price on shares of Incyte Corporation in a research report on Monday, July 3rd. Seven analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $143.07.
Incyte Corporation (INCY) traded down 3.19% during midday trading on Wednesday, reaching $119.65. 1,548,286 shares of the company traded hands. Incyte Corporation has a 12-month low of $78.04 and a 12-month high of $153.15. The company’s market cap is $24.61 billion. The company has a 50-day moving average price of $128.57 and a 200-day moving average price of $130.44.
A number of hedge funds have recently modified their holdings of INCY. State Street Corp lifted its stake in Incyte Corporation by 110.7% during the first quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock worth $1,013,437,000 after purchasing an additional 3,983,207 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Incyte Corporation by 22.7% in the first quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock worth $2,060,638,000 after buying an additional 2,847,907 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Incyte Corporation by 4,570.1% in the second quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock worth $131,622,000 after buying an additional 1,022,979 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Incyte Corporation in the first quarter worth about $85,751,000. Finally, Geode Capital Management LLC increased its holdings in shares of Incyte Corporation by 42.0% in the first quarter. Geode Capital Management LLC now owns 1,780,064 shares of the biopharmaceutical company’s stock worth $237,618,000 after buying an additional 526,163 shares during the period. 91.06% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Bros. Advisors Lp Baker purchased 100,000 shares of the company’s stock in a transaction on Friday, September 8th. The stock was purchased at an average price of $132.00 per share, with a total value of $13,200,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven H. Stein sold 9,883 shares of Incyte Corporation stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $125.00, for a total value of $1,235,375.00. Following the sale, the executive vice president now directly owns 18,518 shares of the company’s stock, valued at approximately $2,314,750. The disclosure for this sale can be found here. Insiders have sold 53,538 shares of company stock valued at $7,118,269 in the last three months. 17.70% of the stock is owned by corporate insiders.
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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