Incyte Corporation (INCY) Stock Rating Reaffirmed by Argus
Incyte Corporation (NASDAQ:INCY)‘s stock had its “buy” rating restated by Argus in a report issued on Wednesday. They presently have a $150.00 price target on the biopharmaceutical company’s stock. Argus’ price target indicates a potential upside of 25.23% from the stock’s current price.
A number of other equities analysts also recently commented on INCY. Jefferies Group LLC restated a “buy” rating and issued a $148.00 price objective on shares of Incyte Corporation in a report on Thursday, May 18th. Morgan Stanley reiterated an “overweight” rating and set a $142.00 target price on shares of Incyte Corporation in a report on Friday, May 19th. J P Morgan Chase & Co set a $149.00 target price on Incyte Corporation and gave the company a “buy” rating in a report on Thursday, May 18th. Oppenheimer Holdings, Inc. set a $125.00 target price on Incyte Corporation and gave the company a “hold” rating in a report on Thursday, May 18th. Finally, Zacks Investment Research upgraded Incyte Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Eight equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Incyte Corporation presently has a consensus rating of “Buy” and a consensus target price of $143.07.
Shares of Incyte Corporation (INCY) opened at 119.78 on Wednesday. Incyte Corporation has a 52 week low of $79.75 and a 52 week high of $153.15. The firm’s 50-day moving average is $127.79 and its 200-day moving average is $130.32. The stock’s market capitalization is $24.64 billion.
Incyte Corporation (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 earnings per share. On average, equities research analysts anticipate that Incyte Corporation will post ($0.84) EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “Incyte Corporation (INCY) Stock Rating Reaffirmed by Argus” was reported by Daily Political and is the property of of Daily Political. If you are reading this story on another site, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The correct version of this story can be accessed at https://www.dailypolitical.com/2017/09/15/incyte-corporation-incy-stock-rating-reaffirmed-by-argus.html.
In other Incyte Corporation news, Director Bros. Advisors Lp Baker bought 100,000 shares of the business’s stock in a transaction on Friday, September 8th. The shares were purchased at an average price of $132.00 per share, with a total value of $13,200,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David W. Gryska sold 599 shares of Incyte Corporation stock in a transaction on Friday, June 30th. The shares were sold at an average price of $129.74, for a total value of $77,714.26. Following the sale, the insider now directly owns 19,614 shares in the company, valued at approximately $2,544,720.36. The disclosure for this sale can be found here. Insiders have sold a total of 53,538 shares of company stock valued at $7,118,269 in the last 90 days. Insiders own 17.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in INCY. US Bancorp DE raised its stake in Incyte Corporation by 67.1% during the 1st quarter. US Bancorp DE now owns 2,931 shares of the biopharmaceutical company’s stock valued at $392,000 after acquiring an additional 1,177 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Incyte Corporation by 23.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,477,461 shares of the biopharmaceutical company’s stock valued at $197,492,000 after acquiring an additional 284,796 shares in the last quarter. Gabelli Funds LLC bought a new stake in Incyte Corporation during the 1st quarter valued at $1,109,000. Meadow Creek Investment Management LLC bought a new stake in Incyte Corporation during the 1st quarter valued at $797,000. Finally, Sei Investments Co. raised its stake in Incyte Corporation by 49.0% during the 1st quarter. Sei Investments Co. now owns 27,387 shares of the biopharmaceutical company’s stock valued at $3,661,000 after acquiring an additional 9,012 shares in the last quarter. 91.06% of the stock is currently owned by hedge funds and other institutional investors.
Incyte Corporation Company Profile
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).
Receive News & Ratings for Incyte Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corporation and related companies with MarketBeat.com's FREE daily email newsletter.