Gabelli Equities Analysts Lower Earnings Estimates for Incyte Corporation (INCY)
Incyte Corporation (NASDAQ:INCY) – Stock analysts at Gabelli reduced their FY2021 earnings per share estimates for shares of Incyte Corporation in a report issued on Wednesday. Gabelli analyst J. He now anticipates that the biopharmaceutical company will post earnings per share of $5.00 for the year, down from their prior estimate of $5.20.
Several other research analysts also recently commented on the company. Oppenheimer Holdings, Inc. set a $135.00 price objective on Incyte Corporation and gave the stock a “hold” rating in a research note on Tuesday. BMO Capital Markets raised their price objective on Incyte Corporation from $162.00 to $166.00 and gave the stock an “outperform” rating in a research note on Tuesday. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Incyte Corporation in a research note on Tuesday. Goldman Sachs Group, Inc. (The) began coverage on Incyte Corporation in a research note on Friday, October 6th. They issued a “buy” rating and a $160.00 price objective on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Incyte Corporation in a research note on Friday, October 6th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $144.98.
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Incyte Corporation (NASDAQ INCY) traded down $1.43 during midday trading on Thursday, hitting $105.08. The stock had a trading volume of 1,850,000 shares, compared to its average volume of 1,860,000. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.87 and a current ratio of 4.82. Incyte Corporation has a 1 year low of $83.01 and a 1 year high of $153.15.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.06 by $0.11. Incyte Corporation 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 last year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was up 41.6% compared to the same quarter last year.
In other news, President Herve Hoppenot sold 70,502 shares of Incyte Corporation stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $119.45, for a total value of $8,421,463.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David W. Gryska sold 3,915 shares of Incyte Corporation stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $105.63, for a total value of $413,541.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,062 shares of company stock valued at $12,652,893. Company insiders own 17.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in INCY. D. Scott Neal Inc. purchased a new position in shares of Incyte Corporation in the 2nd quarter worth approximately $103,000. Cornerstone Advisors Inc. boosted its holdings in shares of Incyte Corporation by 19.6% in the 2nd quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 145 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Incyte Corporation by 13.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 108 shares during the period. Exane Asset Management purchased a new position in shares of Incyte Corporation in the 2nd quarter worth approximately $126,000. Finally, Seven Eight Capital LP purchased a new position in shares of Incyte Corporation in the 2nd quarter worth approximately $129,000. Hedge funds and other institutional investors own 88.85% of the company’s stock.
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).
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