Incyte Corporation (INCY) PT Set at $152.00 by Credit Suisse Group
Credit Suisse Group set a $152.00 price objective on Incyte Corporation (NASDAQ:INCY) in a research report sent to investors on Sunday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
A number of other research analysts have also recently weighed in on the company. BidaskClub cut Incyte Corporation from a buy rating to a hold rating in a research report on Thursday, July 6th. Jefferies Group LLC restated a buy rating and issued a $165.00 price target on shares of Incyte Corporation in a research report on Tuesday, July 4th. Barclays PLC raised their price target on Incyte Corporation from $135.00 to $185.00 and gave the company an overweight rating in a research report on Tuesday, July 4th. Cowen and Company restated an outperform rating and issued a $130.00 price target on shares of Incyte Corporation in a research report on Monday, July 3rd. Finally, Gabelli restated a buy rating and issued a $174.00 price target on shares of Incyte Corporation in a research report on Wednesday, June 28th. Seven 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. The stock presently has an average rating of Buy and an average price target of $141.80.
Shares of Incyte Corporation (NASDAQ INCY) opened at 130.45 on Friday. The stock’s market cap is $26.71 billion. The stock’s 50 day moving average is $127.46 and its 200-day moving average is $127.57. Incyte Corporation has a 12-month low of $75.52 and a 12-month high of $153.15.
Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. Incyte Corporation had a negative return on equity of 20.09% and a negative net margin of 8.72%. The business had revenue of $384.08 million during the quarter, compared to analysts’ expectations of $359.19 million. During the same quarter last year, the business posted $0.12 earnings per share. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. Equities analysts anticipate that Incyte Corporation will post ($0.74) EPS for the current fiscal year.
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In related news, Director Jean Jacques Bienaime purchased 500 shares of Incyte Corporation stock in a transaction that occurred on Monday, May 15th. The shares were purchased at an average cost of $115.00 per share, with a total value of $57,500.00. Following the transaction, the director now owns 4,177 shares of the company’s stock, valued at approximately $480,355. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Trower sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $126.18, for a total value of $378,540.00. Following the transaction, the insider now directly owns 12,148 shares in the company, valued at $1,532,834.64. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 1,500 shares of company stock worth $185,530 and have sold 47,275 shares worth $5,758,636. Insiders own 13.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Highland Capital Management LLC bought a new position in Incyte Corporation during the second quarter valued at approximately $508,000. Sit Investment Associates Inc. increased its stake in Incyte Corporation by 35.4% in the second quarter. Sit Investment Associates Inc. now owns 40,650 shares of the biopharmaceutical company’s stock valued at $5,118,000 after buying an additional 10,630 shares in the last quarter. Exane Asset Management acquired a new stake in Incyte Corporation during the second quarter valued at about $126,000. Aperio Group LLC increased its stake in Incyte Corporation by 11.4% in the second quarter. Aperio Group LLC now owns 52,330 shares of the biopharmaceutical company’s stock valued at $6,589,000 after buying an additional 5,335 shares in the last quarter. Finally, LS Investment Advisors LLC increased its stake in Incyte Corporation by 12.9% in the second quarter. LS Investment Advisors LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $704,000 after buying an additional 641 shares in the last quarter. 92.35% 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).
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