Citigroup restated their market perform rating on shares of Incyte (NASDAQ:INCY) in a research report report published on Tuesday morning, The Fly reports. The firm currently has a $120.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $135.00.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. restated a buy rating on shares of Incyte in a research note on Wednesday, October 25th. Goldman Sachs Group began coverage on Incyte in a research report on Friday, October 6th. They set a buy rating and a $160.00 price target on the stock. Jefferies Group reiterated a buy rating on shares of Incyte in a research report on Friday, October 6th. Argus reiterated a buy rating and set a $150.00 price target on shares of Incyte in a research report on Wednesday, September 13th. Finally, Cowen reiterated a buy rating on shares of Incyte in a research report on Tuesday, December 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $143.11.

Shares of Incyte (INCY) opened at $99.85 on Tuesday. Incyte has a one year low of $92.91 and a one year high of $153.15. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $21,070.00, a PE ratio of -124.81 and a beta of 0.74.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The firm had revenue of $381.50 million for the quarter, compared to the consensus estimate of $360.34 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The company’s revenue was up 41.6% compared to the same quarter last year. research analysts expect that Incyte will post -1.33 EPS for the current fiscal year.

In other Incyte news, EVP Reid M. Huber sold 696 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $98.01, for a total transaction of $68,214.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vijay K. Iyengar sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $97.26, for a total value of $486,300.00. The disclosure for this sale can be found here. Insiders have sold 38,118 shares of company stock valued at $3,968,133 in the last three months. Insiders own 17.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB raised its holdings in shares of Incyte by 0.8% during the second quarter. Nordea Investment Management AB now owns 8,179 shares of the biopharmaceutical company’s stock valued at $1,030,000 after acquiring an additional 67 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Incyte by 13.8% during the second quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 108 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Incyte by 1.9% during the second quarter. Ameritas Investment Partners Inc. now owns 7,571 shares of the biopharmaceutical company’s stock valued at $953,000 after acquiring an additional 143 shares during the last quarter. Symphony Asset Management LLC raised its holdings in shares of Incyte by 20.1% during the second quarter. Symphony Asset Management LLC now owns 1,867 shares of the biopharmaceutical company’s stock valued at $235,000 after acquiring an additional 312 shares during the last quarter. Finally, Norinchukin Bank The raised its holdings in shares of Incyte by 3.0% during the second quarter. Norinchukin Bank The now owns 11,795 shares of the biopharmaceutical company’s stock valued at $1,485,000 after acquiring an additional 348 shares during the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

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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).

The Fly

Analyst Recommendations for Incyte (NASDAQ:INCY)

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