BMO Capital Markets began coverage on shares of Incyte (NASDAQ:INCY) in a research report released on Thursday, BenzingaRatingsTable reports. The brokerage issued a market perform rating and a $85.00 price target on the biopharmaceutical company’s stock.
A number of other analysts have also issued reports on the company. Credit Suisse Group initiated coverage on Incyte in a research report on Monday, May 20th. They set a neutral rating and a $75.00 target price on the stock. Leerink Swann set a $90.00 target price on Incyte and gave the stock a hold rating in a research report on Wednesday, July 31st. ValuEngine lowered Incyte from a hold rating to a sell rating in a research report on Friday, September 6th. Nomura lifted their target price on Incyte from $100.00 to $111.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reaffirmed a buy rating and set a $91.00 target price on shares of Incyte in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Incyte has a consensus rating of Buy and a consensus target price of $91.30.
NASDAQ:INCY traded up $0.36 during mid-day trading on Thursday, hitting $76.43. The company had a trading volume of 1,096,180 shares, compared to its average volume of 1,332,144. The business has a fifty day simple moving average of $81.65 and a 200-day simple moving average of $81.81. The company has a current ratio of 5.61, a quick ratio of 5.59 and a debt-to-equity ratio of 0.02. Incyte has a 1 year low of $57.00 and a 1 year high of $89.30. The firm has a market capitalization of $16.36 billion, a price-to-earnings ratio of 93.21 and a beta of 1.09.
Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.38 by $0.37. Incyte had a return on equity of 17.10% and a net margin of 15.25%. The company had revenue of $529.93 million for the quarter, compared to analyst estimates of $498.57 million. During the same period last year, the company posted $0.63 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. As a group, research analysts anticipate that Incyte will post 1.98 earnings per share for the current year.
In other Incyte news, EVP Barry P. Flannelly sold 959 shares of Incyte stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $79.91, for a total value of $76,633.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jean Jacques Bienaime sold 1,724 shares of Incyte stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $85.07, for a total value of $146,660.68. Following the completion of the transaction, the director now owns 277,597 shares of the company’s stock, valued at $23,615,176.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,540 shares of company stock valued at $9,829,776. 17.10% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Bessemer Group Inc. boosted its stake in Incyte by 115,574.2% in the second quarter. Bessemer Group Inc. now owns 564,490 shares of the biopharmaceutical company’s stock valued at $47,959,000 after acquiring an additional 564,002 shares during the period. Amica Mutual Insurance Co. acquired a new position in Incyte in the second quarter valued at approximately $407,000. Oak Ridge Investments LLC boosted its stake in Incyte by 13.6% in the first quarter. Oak Ridge Investments LLC now owns 39,075 shares of the biopharmaceutical company’s stock valued at $3,361,000 after acquiring an additional 4,680 shares during the period. Calamos Advisors LLC acquired a new position in Incyte in the second quarter valued at approximately $412,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Incyte during the first quarter worth approximately $260,000. Institutional investors own 92.65% 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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