Incyte Corp. (NASDAQ:INCY) – Research analysts at Jefferies Group upped their Q3 2016 earnings per share (EPS) estimates for Incyte Corp. in a note issued to investors on Wednesday. Jefferies Group analyst B. Abrahams now expects that the brokerage will earn $0.03 per share for the quarter, up from their prior estimate of ($0.10). Jefferies Group currently has a “Buy” rating and a $98.00 price target 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.
Several other equities research analysts also recently weighed in on the stock. BMO Capital Markets raised their target price on shares of Incyte Corp. to $121.00 in a research note on Friday. Zacks Investment Research upgraded shares of Incyte Corp. from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research note on Tuesday, October 4th. Leerink Swann raised their target price on shares of Incyte Corp. from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Monday, October 3rd. Piper Jaffray Cos. set a $99.00 target price on shares of Incyte Corp. and gave the company a “buy” rating in a research note on Wednesday, September 28th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte Corp. in a research note on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $104.93.
Shares of Incyte Corp. (NASDAQ:INCY) opened at 97.83 on Friday. The company has a market cap of $18.39 billion, a P/E ratio of 265.84 and a beta of 0.54. The stock’s 50 day moving average is $85.39 and its 200-day moving average is $80.88. Incyte Corp. has a 12 month low of $55.00 and a 12 month high of $124.98.
Incyte Corp. (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.20. Incyte Corp. had a net margin of 7.87% and a return on equity of 37.76%. The firm earned $208 million during the quarter, compared to the consensus estimate of $236.91 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The company’s revenue for the quarter was up 51.1% compared to the same quarter last year.
Institutional investors have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. acquired a new position in Incyte Corp. during the second quarter worth $104,000. Acrospire Investment Management LLC raised its position 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 worth $104,000 after buying an additional 200 shares during the last quarter. Walleye Trading LLC acquired a new position in Incyte Corp. during the second quarter worth $120,000. Seven Eight Capital LLC acquired a new position in Incyte Corp. during the first quarter worth $113,000. Finally, Fifth Third Bancorp raised its position in Incyte Corp. by 16.2% in the second quarter. Fifth Third Bancorp now owns 1,678 shares of the biopharmaceutical company’s stock worth $134,000 after buying an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.
In related news, EVP Paula J. Swain sold 60,000 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $90.00, for a total transaction of $5,400,000.00. Following the transaction, the executive vice president now directly owns 89,248 shares in the company, valued at $8,032,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paula J. Swain sold 20,000 shares of the business’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $90.00, for a total transaction of $1,800,000.00. Following the transaction, the executive vice president now owns 49,248 shares in the company, valued at $4,432,320. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.
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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