INCY has been the topic of several other research reports. JPMorgan Chase & Co. reaffirmed a buy rating and issued a $91.00 target price on shares of Incyte in a report on Wednesday, July 31st. BMO Capital Markets began coverage on shares of Incyte in a report on Thursday, September 12th. They issued a market perform rating and a $85.00 target price on the stock. Nomura raised their target price on shares of Incyte from $100.00 to $111.00 and gave the company a buy rating in a report on Wednesday, July 31st. JMP Securities raised their target price on shares of Incyte from $107.00 to $110.00 and gave the company a market outperform rating in a report on Monday, September 30th. Finally, Cowen reaffirmed a buy rating on shares of Incyte in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued 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 target price of $93.05.
NASDAQ INCY opened at $94.16 on Thursday. The firm has a 50 day simple moving average of $83.60 and a 200-day simple moving average of $81.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.01 and a current ratio of 5.02. Incyte has a one year low of $57.00 and a one year high of $95.00. The firm has a market cap of $20.27 billion, a price-to-earnings ratio of 114.83, a PEG ratio of 1.37 and a beta of 0.99.
Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.27. Incyte had a net margin of 19.21% and a return on equity of 20.07%. The business had revenue of $551.58 million during the quarter, compared to analyst estimates of $534.73 million. During the same quarter last year, the firm posted $0.41 earnings per share. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. Equities analysts predict that Incyte will post 2.14 EPS for the current fiscal year.
In other Incyte news, insider Paul Trower sold 16,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $80.45, for a total transaction of $1,327,425.00. Following the sale, the insider now owns 23,907 shares of the company’s stock, valued at $1,923,318.15. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Wendy L. Dixon sold 41,218 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $83.87, for a total transaction of $3,456,953.66. Following the sale, the director now directly owns 22,916 shares in the company, valued at approximately $1,921,964.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,436 shares of company stock worth $9,462,285. 17.10% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Incyte by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,441,152 shares of the biopharmaceutical company’s stock valued at $1,651,720,000 after acquiring an additional 306,066 shares during the period. State Street Corp increased its holdings in shares of Incyte by 0.8% in the 3rd quarter. State Street Corp now owns 8,129,426 shares of the biopharmaceutical company’s stock valued at $603,447,000 after acquiring an additional 66,797 shares during the period. Invesco Ltd. increased its holdings in shares of Incyte by 76.2% in the 2nd quarter. Invesco Ltd. now owns 5,210,785 shares of the biopharmaceutical company’s stock valued at $442,708,000 after acquiring an additional 2,252,891 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Incyte by 3,415.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,212,722 shares of the biopharmaceutical company’s stock valued at $187,993,000 after acquiring an additional 2,149,784 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Incyte by 6.7% in the 2nd quarter. Northern Trust Corp now owns 2,150,745 shares of the biopharmaceutical company’s stock valued at $182,728,000 after acquiring an additional 135,914 shares during the period. 91.10% of the stock is currently owned by institutional investors.
Incyte Company Profile
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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