Incyte Corporation (INCY) Stock Rating Reaffirmed by Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. reiterated their hold rating on shares of Incyte Corporation (NASDAQ:INCY) in a research report report published on Thursday morning. Oppenheimer Holdings, Inc. currently has a $135.00 price objective on the biopharmaceutical company’s stock.
Other equities analysts also recently issued reports about the company. TheStreet raised Incyte Corporation from a d+ rating to a c rating in a research report on Wednesday, May 24th. Cowen and Company reaffirmed a buy rating on shares of Incyte Corporation in a research report on Monday, June 5th. Credit Suisse Group reaffirmed a buy rating on shares of Incyte Corporation in a research report on Saturday, June 10th. BMO Capital Markets reaffirmed an outperform rating and set a $166.00 price target (up from $155.00) on shares of Incyte Corporation in a research report on Monday, June 5th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $148.00 price target on shares of Incyte Corporation in a research report on Thursday, July 27th. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $140.16.
Shares of Incyte Corporation (NASDAQ INCY) opened at 138.03 on Thursday. The stock’s market capitalization is $28.39 billion. The firm’s 50-day moving average price is $129.15 and its 200 day moving average price is $130.00. Incyte Corporation has a 52 week low of $77.58 and a 52 week high of $153.15.
Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $326.40 million for the quarter, compared to analyst estimates 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 for the quarter was up 32.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 earnings per share. Analysts expect that Incyte Corporation will post ($0.86) earnings per share for the current year.
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In other Incyte Corporation news, CFO David W. Gryska sold 16,756 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $116.60, for a total value of $1,953,749.60. Following the sale, the chief financial officer now directly owns 35,771 shares of the company’s stock, valued at $4,170,898.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Steven H. Stein sold 9,883 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $125.00, for a total transaction of $1,235,375.00. Following the completion of the sale, the executive vice president now directly owns 18,518 shares in the company, valued at $2,314,750. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,474 shares of company stock worth $5,606,721. 17.70% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of INCY. D. Scott Neal Inc. purchased a new stake in Incyte Corporation in the second quarter valued at $103,000. Tower Research Capital LLC TRC purchased a new stake in Incyte Corporation in the first quarter valued at $105,000. Cornerstone Advisors Inc. boosted its holdings in Incyte Corporation by 19.6% in the second quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock valued at $111,000 after purchasing an additional 145 shares during the last quarter. Exane Asset Management purchased a new stake in Incyte Corporation in the second quarter valued at $126,000. Finally, Seven Eight Capital LP purchased a new stake in Incyte Corporation in the second quarter valued at $129,000. 91.06% of the stock is currently owned by 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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