Incyte Corporation (NASDAQ:INCY) Rating Lowered to Hold at BidaskClub
Incyte Corporation (NASDAQ:INCY) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
INCY has been the topic of several other research reports. Oppenheimer Holdings, Inc. set a $125.00 price target on Incyte Corporation and gave the company a “hold” rating in a research note on Thursday, May 18th. BMO Capital Markets boosted their price objective on Incyte Corporation from $144.00 to $146.00 and gave the company an “outperform” rating in a report on Friday, May 5th. TheStreet cut Incyte Corporation from a “b-” rating to a “c+” rating in a report on Monday, April 17th. Credit Suisse Group set a $167.00 price objective on Incyte Corporation and gave the company a “buy” rating in a report on Wednesday, April 19th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $148.00 price objective (down previously from $165.00) on shares of Incyte Corporation in a report on Monday, April 17th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Incyte Corporation presently has an average rating of “Buy” and an average target price of $140.39.
Incyte Corporation (INCY) traded up 2.56% on Friday, reaching $132.00. The company’s stock had a trading volume of 1,038,399 shares. The firm’s 50 day moving average price is $130.23 and its 200-day moving average price is $129.04. The company’s market capitalization is $27.15 billion. Incyte Corporation has a 1-year low of $75.52 and a 1-year high of $153.15.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $326.40 million for the quarter, compared to analysts’ expectations of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The firm’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 EPS. Equities analysts forecast that Incyte Corporation will post ($0.77) earnings per share for the current year.
In related news, Director Jean Jacques Bienaime purchased 500 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was acquired at an average cost of $115.00 per share, for a total transaction of $57,500.00. Following the completion of the transaction, the director now directly owns 4,177 shares of the company’s stock, valued at $480,355. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Eric H. Siegel sold 1,820 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $132.92, for a total value of $241,914.40. Following the completion of the sale, the executive vice president now owns 23,553 shares of the company’s stock, valued at $3,130,664.76. The disclosure for this sale can be found here. Insiders have sold 45,183 shares of company stock valued at $5,601,196 in the last three months. Insiders own 17.70% of the company’s stock.
Several large investors have recently bought and sold shares of INCY. Macquarie Group Ltd. raised its stake in Incyte Corporation by 156.6% in the fourth quarter. Macquarie Group Ltd. now owns 107,073 shares of the biopharmaceutical company’s stock worth $10,736,000 after buying an additional 65,344 shares during the period. Chevy Chase Trust Holdings Inc. bought a new stake in Incyte Corporation during the first quarter worth about $20,298,000. CT Financial Advisors LLC raised its stake in Incyte Corporation by 4.7% in the first quarter. CT Financial Advisors LLC now owns 10,742 shares of the biopharmaceutical company’s stock worth $1,436,000 after buying an additional 481 shares during the period. Douglass Winthrop Advisors LLC bought a new stake in Incyte Corporation during the first quarter worth about $201,000. Finally, Exxonmobil Investment Management Inc. TX bought a new stake in Incyte Corporation during the first quarter worth about $5,229,000. Institutional investors and hedge funds own 91.73% of the company’s stock.
About Incyte Corporation
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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