Incyte (NASDAQ:INCY) Upgraded to “Hold” at BidaskClub

Incyte (NASDAQ:INCY) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, May 22nd, BidAskClub reports.

INCY has been the topic of a number of other reports. Credit Suisse Group assumed coverage on shares of Incyte in a research note on Monday, May 20th. They set a “neutral” rating and a $75.00 target price on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Incyte in a research note on Tuesday, April 30th. Oppenheimer set a $85.00 target price on shares of Incyte and gave the stock a “hold” rating in a research note on Sunday, April 7th. Gabelli raised shares of Incyte from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Wednesday, January 23rd. Finally, Zacks Investment Research cut shares of Incyte from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 23rd. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $88.00.

Shares of NASDAQ INCY traded up $1.34 during trading on Wednesday, hitting $77.71. The company had a trading volume of 1,250,400 shares, compared to its average volume of 1,407,600. Incyte has a fifty-two week low of $57.00 and a fifty-two week high of $88.83. The firm has a market cap of $16.38 billion, a price-to-earnings ratio of 94.77 and a beta of 1.20. The company has a quick ratio of 5.21, a current ratio of 5.22 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.29. The business had revenue of $497.86 million for the quarter, compared to analyst estimates of $488.00 million. Incyte had a net margin of 12.66% and a return on equity of 13.28%. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.01) earnings per share. Equities research analysts anticipate that Incyte will post 1.78 EPS for the current fiscal year.

In other Incyte news, EVP Paula J. Swain sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $87.01, for a total transaction of $870,100.00. Following the completion of the transaction, the executive vice president now owns 38,295 shares in the company, valued at approximately $3,332,047.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 17.10% of the company’s stock.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc lifted its position in shares of Incyte by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 18,380,804 shares of the biopharmaceutical company’s stock worth $1,269,746,000 after buying an additional 120,700 shares during the last quarter. BlackRock Inc. raised its position in Incyte by 1.2% in the 1st quarter. BlackRock Inc. now owns 15,453,453 shares of the biopharmaceutical company’s stock valued at $1,329,154,000 after purchasing an additional 190,491 shares during the last quarter. Norges Bank purchased a new stake in Incyte in the 4th quarter valued at $186,630,000. Geode Capital Management LLC raised its position in Incyte by 6.2% in the 1st quarter. Geode Capital Management LLC now owns 2,508,013 shares of the biopharmaceutical company’s stock valued at $215,338,000 after purchasing an additional 147,407 shares during the last quarter. Finally, Northern Trust Corp raised its position in Incyte by 2.1% in the 1st quarter. Northern Trust Corp now owns 2,014,831 shares of the biopharmaceutical company’s stock valued at $173,296,000 after purchasing an additional 41,396 shares during the last quarter. Institutional investors and hedge funds own 91.17% of the company’s stock.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Analyst Recommendations for Incyte (NASDAQ:INCY)

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