Credit Suisse Group initiated coverage on shares of Incyte (NASDAQ:INCY) in a research report released on Monday, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $75.00 price target on the biopharmaceutical company’s stock.
INCY has been the subject of several other research reports. Royal Bank of Canada increased their price objective on shares of Incyte to $89.00 and gave the stock an outperform rating in a research report on Friday, February 15th. Stifel Nicolaus began coverage on shares of Incyte in a research report on Wednesday, April 10th. They issued a hold rating and a $82.00 target price for the company. BidaskClub downgraded shares of Incyte from a sell rating to a strong sell rating in a research report on Wednesday, April 24th. Argus raised their target price on shares of Incyte from $83.00 to $98.00 and gave the company a buy rating in a research report on Monday, February 25th. Finally, William Blair raised shares of Incyte from a market perform rating to an outperform rating and raised their target price for the company from $85.00 to $100.00 in a research report on Thursday, January 24th. Thirteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $91.07.
Shares of INCY stock opened at $80.50 on Monday. The company has a quick ratio of 5.21, a current ratio of 5.22 and a debt-to-equity ratio of 0.01. Incyte has a 12-month low of $57.00 and a 12-month high of $88.83. The firm has a market cap of $17.26 billion, a PE ratio of 98.17 and a beta of 1.31.
Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.29. Incyte had a net margin of 12.66% and a return on equity of 13.28%. The company had revenue of $497.86 million during the quarter, compared to the consensus estimate of $488.00 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The firm’s revenue was up 30.2% compared to the same quarter last year. On average, research analysts anticipate that Incyte will post 1.78 EPS for the current fiscal year.
In related news, EVP Paula J. Swain sold 10,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $87.01, for a total value of $870,100.00. Following the completion of the transaction, the executive vice president now owns 38,295 shares of the company’s stock, valued at $3,332,047.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.10% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc lifted its stake in shares of Incyte by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 18,380,804 shares of the biopharmaceutical company’s stock worth $1,269,746,000 after buying an additional 120,700 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Incyte by 1.2% during the 1st quarter. BlackRock Inc. now owns 15,453,453 shares of the biopharmaceutical company’s stock worth $1,329,154,000 after buying an additional 190,491 shares during the last quarter. Norges Bank acquired a new stake in shares of Incyte during the 4th quarter worth about $186,630,000. Geode Capital Management LLC lifted its stake in shares of Incyte by 6.2% during the 1st quarter. Geode Capital Management LLC now owns 2,508,013 shares of the biopharmaceutical company’s stock worth $215,338,000 after buying an additional 147,407 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Incyte by 2.1% during the 1st quarter. Northern Trust Corp now owns 2,014,831 shares of the biopharmaceutical company’s stock worth $173,296,000 after buying an additional 41,396 shares during the last quarter. Hedge funds and other institutional investors own 91.30% of the company’s stock.
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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