Oppenheimer Analysts Give Incyte (INCY) a $120.00 Price Target

Oppenheimer set a $120.00 target price on Incyte (NASDAQ:INCY) in a research report released on Tuesday. The firm currently has a hold rating on the biopharmaceutical company’s stock. Oppenheimer also issued estimates for Incyte’s Q4 2017 earnings at ($0.19) EPS, FY2017 earnings at ($1.00) EPS, Q1 2018 earnings at ($0.22) EPS, Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.18 EPS, Q4 2018 earnings at ($0.13) EPS, FY2018 earnings at $0.25 EPS, FY2019 earnings at $0.61 EPS, FY2020 earnings at $3.32 EPS, FY2021 earnings at $5.47 EPS and FY2022 earnings at $8.20 EPS.

INCY has been the subject of a number of other reports. BMO Capital Markets reiterated an outperform rating and set a $163.00 price target (down from $172.00) on shares of Incyte in a research report on Monday, September 11th. Raymond James Financial reiterated a buy rating on shares of Incyte in a research report on Tuesday, December 12th. Goldman Sachs Group began coverage on shares of Incyte in a research report on Friday, October 6th. They set a buy rating and a $160.00 price target for the company. ValuEngine cut shares of Incyte from a hold rating to a sell rating in a research report on Wednesday, November 29th. Finally, Argus reiterated a buy rating and set a $150.00 price target on shares of Incyte in a research report on Wednesday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $143.11.

Shares of Incyte (INCY) traded down $2.54 on Tuesday, hitting $98.44. 1,445,300 shares of the company’s stock were exchanged, compared to its average volume of 1,577,900. Incyte has a 1-year low of $92.91 and a 1-year high of $153.15. The firm has a market capitalization of $21,040.00, a PE ratio of -123.05 and a beta of 0.74. The company has a current ratio of 4.82, a quick ratio of 4.81 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. The business had revenue of $381.50 million during the quarter, compared to analysts’ expectations of $360.34 million. During the same period last year, the business earned $0.19 earnings per share. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. equities analysts forecast that Incyte will post -1.33 earnings per share for the current year.

In related news, Director Paul A. Friedman sold 28,507 shares of Incyte stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $105.24, for a total value of $3,000,076.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vijay K. Iyengar sold 5,000 shares of Incyte stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $97.26, for a total transaction of $486,300.00. The disclosure for this sale can be found here. Insiders sold 38,118 shares of company stock valued at $3,968,133 in the last 90 days. Company insiders own 17.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of INCY. Vanguard Group Inc. lifted its stake in Incyte by 11.1% in the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock worth $2,156,276,000 after acquiring an additional 1,709,685 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Incyte during the 3rd quarter worth approximately $125,065,000. Janus Henderson Group PLC lifted its position in shares of Incyte by 4,570.1% during the 2nd 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 last quarter. Old Mutual Global Investors UK Ltd. lifted its position in shares of Incyte by 374.4% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock worth $108,605,000 after buying an additional 734,235 shares during the last quarter. Finally, Matrix Capital Management Company LP lifted its position in shares of Incyte by 28.3% during the 2nd quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after buying an additional 396,716 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.

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About Incyte

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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