Incyte Co. (INCY) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Incyte Co. (NASDAQ:INCY) have been assigned a consensus rating of “Buy” from the twenty-eight research firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, seventeen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $143.27.
A number of brokerages have issued reports on INCY. BMO Capital Markets dropped their target price on shares of Incyte from $163.00 to $162.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Incyte in a research note on Wednesday, October 25th. Goldman Sachs Group initiated coverage on shares of Incyte in a research note on Friday, October 6th. They set a “buy” rating and a $160.00 price objective for the company. Jefferies Group reissued a “buy” rating on shares of Incyte in a research note on Friday, October 6th. Finally, Oppenheimer set a $135.00 price objective on shares of Incyte and gave the stock a “hold” rating in a research note on Tuesday, October 31st.
In related news, Director Paul A. Friedman sold 28,507 shares of Incyte stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $105.24, for a total transaction of $3,000,076.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David W. Gryska sold 3,915 shares of Incyte stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $105.63, for a total transaction of $413,541.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,878 shares of company stock worth $4,636,494. 17.70% of the stock is owned by company insiders.
Shares of Incyte (INCY) traded up $1.61 during trading on Friday, reaching $91.92. 2,104,900 shares of the company’s stock were exchanged, compared to its average volume of 1,965,708. Incyte has a 12 month low of $88.81 and a 12 month high of $153.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.81 and a current ratio of 4.82. The stock has a market capitalization of $19,470.00, a PE ratio of -114.90 and a beta of 0.74.
Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.11. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. The company had revenue of $381.50 million during the quarter, compared to analysts’ expectations of $360.34 million. During the same period last year, the company posted $0.19 earnings per share. The firm’s quarterly revenue was up 41.6% compared to the same quarter last year. research analysts predict that Incyte will post -1.35 earnings per share for the current fiscal year.
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Incyte 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).
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