Oppenheimer set a $65.00 price target on Incyte (NASDAQ:INCY) in a report published on Monday morning. The firm currently has a hold rating on the biopharmaceutical company’s stock. Oppenheimer also issued estimates for Incyte’s Q1 2018 earnings at ($0.24) EPS, Q2 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.14 EPS, Q4 2018 earnings at $0.33 EPS, FY2018 earnings at $0.62 EPS, FY2019 earnings at $1.93 EPS, FY2020 earnings at $2.72 EPS, FY2021 earnings at $4.25 EPS and FY2022 earnings at $5.63 EPS.
Several other research analysts have also recently commented on INCY. Raymond James Financial restated a buy rating on shares of Incyte in a report on Tuesday, December 12th. BidaskClub upgraded shares of Incyte from a strong sell rating to a sell rating in a report on Friday, January 26th. Zacks Investment Research cut shares of Incyte from a hold rating to a sell rating in a report on Tuesday, January 2nd. Credit Suisse Group set a $78.00 target price on shares of Incyte and gave the stock an outperform rating in a report on Friday, April 6th. Finally, ValuEngine upgraded shares of Incyte from a sell rating to a hold rating in a report on Thursday, March 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Incyte currently has a consensus rating of Buy and an average price target of $119.66.
Incyte stock opened at $69.83 on Monday. The company has a market capitalization of $14,427.73, a PE ratio of 109.11 and a beta of 0.66. Incyte has a twelve month low of $61.30 and a twelve month high of $142.45. The company has a quick ratio of 3.99, a current ratio of 4.01 and a debt-to-equity ratio of 0.01.
In other news, insider David W. Gryska sold 1,952 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $85.56, for a total value of $167,013.12. Following the transaction, the insider now directly owns 12,922 shares of the company’s stock, valued at $1,105,606.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Reid M. Huber sold 1,958 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $85.55, for a total transaction of $167,506.90. The disclosure for this sale can be found here. 17.20% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Exane Derivatives bought a new position in shares of Incyte in the fourth quarter valued at about $669,000. NuWave Investment Management LLC bought a new position in shares of Incyte in the fourth quarter valued at about $473,000. Ascend Capital LLC bought a new position in shares of Incyte in the fourth quarter valued at about $9,879,000. Financial Gravity Companies Inc. bought a new position in shares of Incyte in the fourth quarter valued at about $120,000. Finally, Emory University raised its position in shares of Incyte by 30.8% in the fourth quarter. Emory University now owns 17,046 shares of the biopharmaceutical company’s stock valued at $1,614,000 after purchasing an additional 4,016 shares during the period. 93.50% of the stock is currently owned by institutional investors.
Incyte Company Profile
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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