Incyte Co. (INCY) Given New $180.00 Price Target at Barclays PLC
Incyte Co. (NASDAQ:INCY) had its price objective lowered by stock analysts at Barclays PLC from $185.00 to $180.00 in a report issued on Wednesday. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays PLC’s price objective suggests a potential upside of 46.21% from the stock’s current price.
INCY has been the subject of several other research reports. Cowen and Company reiterated an “outperform” rating on shares of Incyte in a research report on Thursday, January 12th. Goldman Sachs Group Inc increased their price objective on shares of Incyte from $116.00 to $149.00 and gave the company a “buy” rating in a research report on Friday, January 27th. Nomura started coverage on shares of Incyte in a report on Wednesday, March 1st. They issued a “buy” rating for the company. Royal Bank of Canada raised their target price on shares of Incyte from $123.00 to $138.00 and gave the stock an “outperform” rating in a report on Wednesday, February 15th. Finally, JMP Securities restated an “outperform” rating and issued a $130.00 target price on shares of Incyte in a report on Wednesday, January 18th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Incyte presently has an average rating of “Buy” and an average price target of $139.40.
Incyte (NASDAQ:INCY) traded down 1.15% during mid-day trading on Wednesday, hitting $123.11. 2,034,400 shares of the stock were exchanged. Incyte has a 52 week low of $68.03 and a 52 week high of $153.15. The company has a 50-day moving average of $139.05 and a 200-day moving average of $114.33. The stock has a market capitalization of $23.32 billion, a PE ratio of 227.98 and a beta of 0.78.
Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, February 14th. The biopharmaceutical company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.09. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The business had revenue of $326 million for the quarter, compared to the consensus estimate of $324.90 million. During the same quarter last year, the business earned $0.29 EPS. Incyte’s revenue for the quarter was up 33.9% compared to the same quarter last year. On average, equities analysts predict that Incyte will post $0.18 EPS for the current fiscal year.
In other news, Director Jean Jacques Bienaime acquired 1,000 shares of the business’s stock in a transaction dated Friday, April 7th. The shares were purchased at an average price of $139.48 per share, with a total value of $139,480.00. Following the transaction, the director now directly owns 2,177 shares in the company, valued at $303,647.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Steven H. Stein sold 32,000 shares of Incyte stock in a transaction that occurred on Friday, April 7th. The stock was sold at an average price of $137.88, for a total transaction of $4,412,160.00. Following the completion of the transaction, the executive vice president now directly owns 41,648 shares in the company, valued at approximately $5,742,426.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,571 shares of company stock worth $18,145,772. Insiders own 13.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Asymmetry Capital Management L.P. increased its position in shares of Incyte by 46.6% in the third quarter. Asymmetry Capital Management L.P. now owns 37,407 shares of the biopharmaceutical company’s stock worth $3,527,000 after buying an additional 11,897 shares during the last quarter. NF Trinity Capital Hong Kong Ltd purchased a new position in shares of Incyte during the third quarter worth about $7,072,000. Jana Partners LLC purchased a new position in shares of Incyte during the third quarter worth about $5,505,000. Blue Jay Capital Management LLC purchased a new position in shares of Incyte during the third quarter worth about $12,085,000. Finally, Frontier Capital Management Co. LLC increased its position in shares of Incyte by 8.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,104,616 shares of the biopharmaceutical company’s stock worth $110,760,000 after buying an additional 90,098 shares during the last quarter. 92.62% of the stock is currently owned by hedge funds and other institutional investors.
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 Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.