Incyte Corp. (NASDAQ:INCY) – Equities researchers at Jefferies Group increased their Q3 2016 earnings per share estimates for shares of Incyte Corp. in a report released on Wednesday. Jefferies Group analyst B. Abrahams now expects that the firm will earn $0.03 per share for the quarter, up from their previous forecast of ($0.10). Jefferies Group currently has a “Buy” rating and a $98.00 target price on the stock. Jefferies Group also issued estimates for Incyte Corp.’s FY2016 earnings at $0.27 EPS, FY2018 earnings at $1.90 EPS, FY2019 earnings at $2.61 EPS and FY2020 earnings at $3.58 EPS.
A number of other brokerages also recently weighed in on INCY. RBC Capital Markets restated an “outperform” rating and issued a $116.00 price target on shares of Incyte Corp. in a report on Wednesday, September 28th. Barclays PLC raised their price target on shares of Incyte Corp. from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 10th. Piper Jaffray Cos. restated a “buy” rating and issued a $102.00 price target (up from $76.00) on shares of Incyte Corp. in a report on Monday, August 1st. SunTrust Banks Inc. assumed coverage on shares of Incyte Corp. in a report on Friday, August 5th. They issued a “buy” rating and a $105.00 price target for the company. Finally, JMP Securities restated an “outperform” rating and issued a $100.00 price target on shares of Incyte Corp. in a report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $104.93.
Shares of Incyte Corp. (NASDAQ:INCY) opened at 97.83 on Friday. The stock has a 50 day moving average of $85.39 and a 200-day moving average of $80.88. The company has a market capitalization of $18.39 billion, a PE ratio of 265.84 and a beta of 0.54. Incyte Corp. has a one year low of $55.00 and a one year high of $124.98.
Incyte Corp. (NASDAQ:INCY) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.20. The company had revenue of $208 million for the quarter, compared to analysts’ expectations of $236.91 million. Incyte Corp. had a net margin of 7.87% and a return on equity of 37.76%. Incyte Corp.’s quarterly revenue was up 51.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS.
In other news, EVP Paula J. Swain sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $90.00, for a total value of $1,800,000.00. Following the sale, the executive vice president now owns 49,248 shares of the company’s stock, valued at $4,432,320. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Reid M. Huber sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $87.96, for a total transaction of $879,600.00. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. acquired a new stake in Incyte Corp. during the second quarter valued at about $104,000. Acrospire Investment Management LLC raised its stake in Incyte Corp. by 18.2% in the second quarter. Acrospire Investment Management LLC now owns 1,300 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 200 shares during the period. Walleye Trading LLC acquired a new stake in Incyte Corp. during the second quarter valued at about $120,000. Seven Eight Capital LLC acquired a new stake in Incyte Corp. during the first quarter valued at about $113,000. Finally, Fifth Third Bancorp raised its stake in Incyte Corp. by 16.2% in the second quarter. Fifth Third Bancorp now owns 1,678 shares of the biopharmaceutical company’s stock valued at $134,000 after buying an additional 234 shares during the period. 92.32% of the stock is currently owned by institutional investors.
Incyte Corp. Company Profile
Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK).
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