Oppenheimer set a $120.00 price objective on Incyte (NASDAQ:INCY) in a report issued on Tuesday morning. The brokerage currently has a hold rating on the biopharmaceutical company’s stock. Oppenheimer also issued estimates for Incyte’s Q4 2017 earnings at ($0.19) EPS, FY2017 earnings at ($1.00) EPS, Q1 2018 earnings at ($0.22) EPS, Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.18 EPS, Q4 2018 earnings at ($0.13) EPS, FY2018 earnings at $0.25 EPS, FY2019 earnings at $0.61 EPS, FY2020 earnings at $3.32 EPS, FY2021 earnings at $5.47 EPS and FY2022 earnings at $8.20 EPS.

INCY has been the subject of a number of other research reports. JPMorgan Chase & Co. reissued a buy rating on shares of Incyte in a research report on Wednesday, October 25th. Jefferies Group reaffirmed a buy rating on shares of Incyte in a report on Friday, October 6th. Cowen reaffirmed a buy rating on shares of Incyte in a report on Tuesday, December 5th. Goldman Sachs Group started coverage on shares of Incyte in a report on Friday, October 6th. They issued a buy rating and a $160.00 price objective for the company. Finally, Raymond James Financial raised shares of Incyte from a market perform rating to an outperform rating and set a $159.00 price objective for the company in a report on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Incyte currently has an average rating of Buy and a consensus price target of $143.11.

Shares of Incyte (NASDAQ INCY) opened at $99.85 on Tuesday. Incyte has a 1 year low of $92.91 and a 1 year high of $153.15. The company has a current ratio of 4.82, a quick ratio of 4.81 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. The business had revenue of $381.50 million during 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 quarterly revenue was up 41.6% compared to the same quarter last year. analysts forecast that Incyte will post -1.32 earnings per share for the current fiscal year.

In related news, Director Paul A. Friedman sold 28,507 shares of Incyte stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $105.24, for a total transaction of $3,000,076.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Reid M. Huber sold 696 shares of Incyte stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $98.01, for a total transaction of $68,214.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,118 shares of company stock worth $3,968,133. Company insiders own 17.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Incyte by 11.1% during the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock valued at $2,156,276,000 after purchasing an additional 1,709,685 shares in the last quarter. Capital International Investors raised its stake in shares of Incyte by 1.4% during the third quarter. Capital International Investors now owns 6,494,566 shares of the biopharmaceutical company’s stock valued at $758,176,000 after purchasing an additional 87,369 shares in the last quarter. BB Biotech AG raised its stake in shares of Incyte by 0.7% during the second quarter. BB Biotech AG now owns 3,514,822 shares of the biopharmaceutical company’s stock valued at $442,551,000 after purchasing an additional 25,000 shares in the last quarter. Matrix Capital Management Company LP raised its stake in shares of Incyte by 28.3% during the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock valued at $226,225,000 after purchasing an additional 396,716 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Incyte by 10.7% during the second quarter. UBS Asset Management Americas Inc. now owns 1,636,035 shares of the biopharmaceutical company’s stock valued at $205,993,000 after purchasing an additional 158,574 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

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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).

Analyst Recommendations for Incyte (NASDAQ:INCY)

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