Incyte Co. (NASDAQ:INCY – Get Rating) has been assigned a consensus rating of “Buy” from the fifteen analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $86.92.
A number of research analysts have recently issued reports on INCY shares. Morgan Stanley boosted their target price on Incyte from $73.00 to $76.00 and gave the company an “equal weight” rating in a report on Wednesday, April 20th. Zacks Investment Research raised Incyte from a “sell” rating to a “hold” rating and set a $85.00 target price on the stock in a report on Tuesday, April 5th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 14th. TheStreet lowered Incyte from a “b” rating to a “c” rating in a report on Tuesday, May 3rd. Finally, SVB Leerink lowered Incyte from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $60.00 to $56.00 in a report on Wednesday, February 9th.
INCY opened at $74.91 on Wednesday. The firm has a market cap of $16.59 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 0.89 and a beta of 0.71. Incyte has a 52 week low of $61.91 and a 52 week high of $88.26. The business’s 50 day moving average is $77.22 and its two-hundred day moving average is $73.53. The company has a quick ratio of 3.67, a current ratio of 3.71 and a debt-to-equity ratio of 0.01.
Incyte (NASDAQ:INCY – Get Rating) last released its earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $733.20 million for the quarter, compared to analyst estimates of $753.54 million. Incyte had a return on equity of 12.77% and a net margin of 29.95%. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. Equities analysts expect that Incyte will post 2.31 EPS for the current fiscal year.
In related news, Director Bros. Advisors Lp Baker acquired 218,563 shares of Incyte stock in a transaction dated Thursday, March 10th. The shares were acquired at an average cost of $73.13 per share, for a total transaction of $15,983,512.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Barry P. Flannelly sold 43,993 shares of the company’s stock in a transaction on Friday, April 8th. The shares were sold at an average price of $83.49, for a total value of $3,672,975.57. Following the completion of the sale, the executive vice president now owns 65,163 shares in the company, valued at $5,440,458.87. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Incyte by 5.3% in the fourth quarter. BlackRock Inc. now owns 18,336,658 shares of the biopharmaceutical company’s stock valued at $1,345,912,000 after acquiring an additional 924,880 shares in the last quarter. Dodge & Cox lifted its position in Incyte by 1.1% during the fourth quarter. Dodge & Cox now owns 16,657,586 shares of the biopharmaceutical company’s stock worth $1,222,667,000 after buying an additional 181,150 shares during the period. State Street Corp lifted its position in Incyte by 4.3% during the fourth quarter. State Street Corp now owns 9,347,709 shares of the biopharmaceutical company’s stock worth $686,122,000 after buying an additional 388,337 shares during the period. Wellington Management Group LLP lifted its position in Incyte by 3.7% during the first quarter. Wellington Management Group LLP now owns 9,338,192 shares of the biopharmaceutical company’s stock worth $741,639,000 after buying an additional 329,701 shares during the period. Finally, Royal Bank of Canada lifted its position in Incyte by 117.4% during the first quarter. Royal Bank of Canada now owns 7,682,752 shares of the biopharmaceutical company’s stock worth $610,164,000 after buying an additional 4,148,559 shares during the period. Institutional investors and hedge funds own 92.78% of the company’s stock.
Incyte Company Profile (Get Rating)
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.