Incyte (INCY) Hits New 12-Month Low at $94.53
Incyte Corporation (NASDAQ:INCY)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $94.53 and last traded at $97.94, with a volume of 1350300 shares traded. The stock had previously closed at $98.99.
Several equities analysts recently commented on the company. J P Morgan Chase & Co restated a “buy” rating and set a $149.00 target price on shares of Incyte in a research report on Thursday, August 31st. Oppenheimer restated a “hold” rating and set a $135.00 target price on shares of Incyte in a research report on Thursday, August 31st. BMO Capital Markets restated an “outperform” rating and set a $163.00 target price (down previously from $172.00) on shares of Incyte in a research report on Monday, September 11th. Raymond James Financial upgraded Incyte from a “market perform” rating to an “outperform” rating and set a $159.00 target price for the company in a research report on Monday, September 11th. Finally, Evercore ISI assumed coverage on Incyte in a research report on Wednesday, August 16th. They set an “in-line” rating and a $135.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $145.65.
The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01.
Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.11. The firm had revenue of $381.50 million during the quarter, compared to the consensus estimate of $360.34 million. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The business’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. research analysts expect that Incyte Corporation will post -1.33 earnings per share for the current fiscal year.
In other news, Director Bros. Advisors Lp Baker bought 100,000 shares of the stock in a transaction dated Friday, September 8th. The stock was bought at an average cost of $132.00 per share, with a total value of $13,200,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Reid M. Huber sold 696 shares of Incyte stock in a transaction on Friday, December 1st. The shares were sold at an average price of $98.01, for a total value of $68,214.96. The disclosure for this sale can be found here. Insiders sold a total of 104,334 shares of company stock valued at $11,992,011 over the last three months. Insiders own 17.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFM Investors Pty Ltd acquired a new stake in shares of Incyte during the third quarter worth $567,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Incyte during the third quarter worth $503,000. California Public Employees Retirement System grew its stake in shares of Incyte by 2.8% during the third quarter. California Public Employees Retirement System now owns 359,272 shares of the biopharmaceutical company’s stock worth $41,941,000 after purchasing an additional 9,672 shares during the period. Virtu Financial LLC acquired a new stake in shares of Incyte during the third quarter worth $542,000. Finally, Point72 Asset Management L.P. grew its stake in shares of Incyte by 723.0% during the third quarter. Point72 Asset Management L.P. now owns 164,600 shares of the biopharmaceutical company’s stock worth $19,215,000 after purchasing an additional 144,600 shares during the period. 90.86% of the stock is owned by institutional investors.
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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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