Incyte Corporation (NASDAQ:INCY) – Equities researchers at Leerink Swann upped their Q3 2017 earnings per share estimates for shares of Incyte Corporation in a research note issued to investors on Monday. Leerink Swann analyst M. Schmidt now expects that the biopharmaceutical company will post earnings of $0.13 per share for the quarter, up from their previous estimate of ($0.01). Leerink Swann also issued estimates for Incyte Corporation’s FY2017 earnings at ($0.72) EPS.
Several other research analysts have also recently issued reports on the company. Raymond James Financial, Inc. raised Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 target price on the stock in a research report on Monday, September 11th. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $149.00 target price on shares of Incyte Corporation in a research report on Thursday, August 31st. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating and set a $135.00 target price on shares of Incyte Corporation in a research report on Thursday, August 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $172.00 target price on shares of Incyte Corporation in a research report on Monday, August 28th. Finally, Barclays PLC lifted their price target on Incyte Corporation from $135.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, July 4th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $144.84.
ILLEGAL ACTIVITY WARNING: “Leerink Swann Analysts Raise Earnings Estimates for Incyte Corporation (INCY)” was first published by Ticker Report and is the sole property of of Ticker Report. If you are reading this piece on another website, it was illegally stolen and reposted in violation of US & international copyright & trademark laws. The correct version of this piece can be read at https://www.tickerreport.com/banking-finance/2956326/leerink-swann-analysts-raise-earnings-estimates-for-incyte-corporation-incy.html.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The business had revenue of $326.40 million during the quarter, compared to the consensus estimate of $318.45 million. During the same quarter last year, the company posted $0.18 EPS. The firm’s revenue was up 32.5% on a year-over-year basis.
Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC bought a new stake in shares of Incyte Corporation during the 1st quarter valued at $105,000. D. Scott Neal Inc. bought a new stake in shares of Incyte Corporation during the 2nd quarter valued at $103,000. Cornerstone Advisors Inc. raised its stake in shares of Incyte Corporation by 19.6% during the 2nd 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 period. FNY Partners Fund LP raised its stake in shares of Incyte Corporation by 4,825.0% during the 1st quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock valued at $131,000 after purchasing an additional 965 shares during the period. Finally, Exane Asset Management bought a new stake in shares of Incyte Corporation during the 2nd quarter valued at $126,000. Institutional investors own 88.91% of the company’s stock.
In related news, Director Bros. Advisors Lp Baker acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were bought at an average cost of $132.00 per share, for a total transaction of $13,200,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Steven H. Stein sold 6,485 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $131.09, for a total value of $850,118.65. Following the sale, the executive vice president now owns 19,356 shares in the company, valued at $2,537,378.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,452 shares of company stock worth $13,707,134. 17.70% of the stock is currently owned by corporate insiders.
About Incyte Corporation
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).
Receive News & Ratings for Incyte Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corporation and related companies with MarketBeat.com's FREE daily email newsletter.