Incyte (NASDAQ:INCY – Free Report) had its price target increased by Royal Bank of Canada from $67.00 to $72.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a sector perform rating on the biopharmaceutical company’s stock.
Other analysts also recently issued reports about the company. Oppenheimer boosted their price target on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday. Wolfe Research initiated coverage on Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price objective for the company. Wells Fargo & Company dropped their price objective on Incyte from $63.00 to $62.00 and set an “equal weight” rating for the company in a report on Thursday, October 10th. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $90.00 in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $76.74.
View Our Latest Stock Report on INCY
Incyte Stock Performance
Incyte (NASDAQ:INCY – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 earnings per share. As a group, equities research analysts predict that Incyte will post 0.66 EPS for the current year.
Insider Buying and Selling at Incyte
In other Incyte news, insider Thomas Tray sold 572 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the sale, the insider now owns 24,825 shares in the company, valued at approximately $1,562,485.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Thomas Tray sold 572 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the sale, the insider now owns 24,825 shares in the company, valued at $1,562,485.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the sale, the executive vice president now owns 36,390 shares in the company, valued at approximately $2,269,280.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Incyte by 0.9% in the first quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company’s stock worth $1,294,120,000 after acquiring an additional 196,440 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Incyte by 28.0% in the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after acquiring an additional 779,243 shares in the last quarter. LSV Asset Management boosted its holdings in Incyte by 0.5% in the second quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock worth $167,911,000 after acquiring an additional 15,115 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Incyte by 17,460.4% in the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after acquiring an additional 2,676,851 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Incyte by 70.5% in the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after acquiring an additional 1,101,041 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.
About Incyte
Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.
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