Incyte (NASDAQ:INCY – Free Report) had its price target lifted by BMO Capital Markets from $112.00 to $130.00 in a research report sent to investors on Wednesday, Marketbeat Ratings reports. They currently have a market perform rating on the biopharmaceutical company’s stock.
INCY has been the topic of several other reports. JPMorgan Chase & Co. boosted their price objective on Incyte from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Guggenheim increased their price objective on shares of Incyte from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays boosted their target price on shares of Incyte from $134.00 to $139.00 and gave the stock an “overweight” rating in a report on Wednesday. HC Wainwright lifted their price target on Incyte from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Citigroup reissued a “market perform” rating on shares of Incyte in a research note on Wednesday, July 15th. Eight analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus price target of $117.74.
Check Out Our Latest Analysis on Incyte
Incyte Trading Down 2.8%
Incyte (NASDAQ:INCY – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The biopharmaceutical company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.15 by $0.94. Incyte had a return on equity of 29.93% and a net margin of 27.71%.The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business posted $1.57 EPS. Incyte’s revenue was up 37.7% on a year-over-year basis. Equities analysts forecast that Incyte will post 6.38 earnings per share for the current fiscal year.
Institutional Trading of Incyte
A number of hedge funds and other institutional investors have recently bought and sold shares of INCY. Geode Capital Management LLC boosted its holdings in shares of Incyte by 11.3% in the fourth quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock valued at $491,500,000 after purchasing an additional 506,842 shares during the period. Invesco Ltd. increased its holdings in Incyte by 13.2% during the 4th quarter. Invesco Ltd. now owns 3,473,781 shares of the biopharmaceutical company’s stock worth $343,105,000 after purchasing an additional 405,611 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Incyte by 13.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company’s stock worth $263,246,000 after buying an additional 373,298 shares in the last quarter. Morgan Stanley grew its position in shares of Incyte by 0.9% during the 4th quarter. Morgan Stanley now owns 2,663,823 shares of the biopharmaceutical company’s stock worth $263,106,000 after buying an additional 23,087 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Incyte by 7.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,480,793 shares of the biopharmaceutical company’s stock valued at $245,028,000 after buying an additional 161,405 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.
Incyte Company Profile
Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.
The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.
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