Incyte Corporation’s (INCY) Hold Rating Reaffirmed at Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. reissued their hold rating on shares of Incyte Corporation (NASDAQ:INCY) in a report issued on Thursday. The firm currently has a $135.00 price objective on the biopharmaceutical company’s stock.
Several other analysts have also commented on the stock. Morgan Stanley reaffirmed an overweight rating and issued a $142.00 price objective on shares of Incyte Corporation in a research report on Friday, May 19th. Jefferies Group LLC reaffirmed a buy rating and issued a $148.00 price objective on shares of Incyte Corporation in a research report on Thursday, May 18th. Zacks Investment Research raised shares of Incyte Corporation from a sell rating to a hold rating in a research report on Tuesday, May 23rd. Barclays PLC lifted their target price on shares of Incyte Corporation from $135.00 to $185.00 and gave the stock an overweight rating in a research note on Tuesday, July 4th. Finally, TheStreet downgraded shares of Incyte Corporation from a c+ rating to a d+ rating in a research note on Thursday, May 4th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Incyte Corporation currently has a consensus rating of Buy and an average price target of $140.16.
Shares of Incyte Corporation (NASDAQ:INCY) traded up 1.022% on Thursday, reaching $138.815. 815,427 shares of the company were exchanged. The firm’s market capitalization is $28.55 billion. Incyte Corporation has a 12-month low of $77.58 and a 12-month high of $153.15. The company’s 50 day moving average is $129.02 and its 200 day moving average is $129.88.
Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.01. The company had revenue of $326.40 million during the quarter, compared to the consensus estimate of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The business’s revenue was up 32.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS. Analysts forecast that Incyte Corporation will post ($0.86) earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This piece was first posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://www.watchlistnews.com/incyte-corporations-incy-hold-rating-reaffirmed-at-oppenheimer-holdings-inc/1536587.html.
In other news, insider David W. Gryska sold 599 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $129.74, for a total value of $77,714.26. Following the completion of the sale, the insider now directly owns 19,614 shares in the company, valued at approximately $2,544,720.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David W. Gryska sold 16,756 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $116.60, for a total transaction of $1,953,749.60. Following the completion of the sale, the chief financial officer now owns 35,771 shares of the company’s stock, valued at $4,170,898.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,474 shares of company stock valued at $6,004,221. Company insiders own 17.70% of the company’s stock.
Several large investors have recently made changes to their positions in the company. D. Scott Neal Inc. acquired a new stake in shares of Incyte Corporation during the second quarter worth $103,000. Tower Research Capital LLC TRC purchased a new stake in Incyte Corporation during the first quarter worth approximately $105,000. Cornerstone Advisors Inc. raised its stake in Incyte Corporation by 19.6% in the second quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 145 shares in the last quarter. Exane Asset Management purchased a new stake in Incyte Corporation during the second quarter worth approximately $126,000. Finally, Seven Eight Capital LP purchased a new stake in Incyte Corporation during the second quarter worth approximately $129,000. Hedge funds and other institutional investors own 91.04% 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).
Receive News & Ratings for Incyte Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.