Incyte (NASDAQ:INCY)‘s stock had its “hold” rating reaffirmed by stock analysts at JPMorgan Chase & Co. in a research note issued to investors on Tuesday, AnalystRatings.com reports. They presently have a $99.00 price objective on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 3.03% from the stock’s previous close.
INCY has been the topic of several other research reports. Mizuho reaffirmed a “hold” rating and issued a $79.00 price objective on shares of Incyte in a research note on Sunday, April 19th. Argus raised their target price on shares of Incyte from $92.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Cantor Fitzgerald raised their target price on shares of Incyte from $83.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. Benchmark began coverage on shares of Incyte in a report on Tuesday, June 16th. They issued a “hold” rating for the company. Finally, Nomura reiterated a “buy” rating and issued a $116.00 target price on shares of Incyte in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the stock. Incyte currently has an average rating of “Hold” and an average price target of $100.90.
Incyte stock opened at $102.09 on Tuesday. The company’s 50-day moving average price is $101.98 and its two-hundred day moving average price is $88.62. The stock has a market cap of $21.61 billion, a price-to-earnings ratio of -58.34 and a beta of 1.05. The company has a current ratio of 3.41, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02. Incyte has a 52 week low of $62.48 and a 52 week high of $110.36.
Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($2.86) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($3.17). The business had revenue of $568.51 million during the quarter, compared to analyst estimates of $553.24 million. Incyte had a negative return on equity of 12.81% and a negative net margin of 16.87%. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. Research analysts expect that Incyte will post -1.18 earnings per share for the current fiscal year.
In other Incyte news, EVP Maria E. Pasquale sold 1,423 shares of the business’s stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $100.00, for a total transaction of $142,300.00. Following the completion of the sale, the executive vice president now directly owns 25,084 shares of the company’s stock, valued at approximately $2,508,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dashyant Dhanak sold 961 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $96.84, for a total value of $93,063.24. Following the sale, the executive vice president now directly owns 20,948 shares of the company’s stock, valued at $2,028,604.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,175 shares of company stock worth $26,519,987. 16.10% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in INCY. Ballast Advisors LLC bought a new stake in Incyte during the 1st quarter worth about $28,000. Procyon Private Wealth Partners LLC bought a new stake in Incyte during the 4th quarter worth about $29,000. Simon Quick Advisors LLC bought a new stake in shares of Incyte in the 1st quarter valued at about $38,000. Signaturefd LLC increased its stake in shares of Incyte by 170.9% in the 1st quarter. Signaturefd LLC now owns 558 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 352 shares during the last quarter. Finally, Pearl River Capital LLC bought a new stake in shares of Incyte in the 1st quarter valued at about $47,000. 91.42% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Article: Monthly Dividend Stocks Can Provide Solid Income
Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.