Oppenheimer Analysts Give Incyte (INCY) a $85.00 Price Target

Oppenheimer set a $85.00 price objective on Incyte (NASDAQ:INCY) in a research report sent to investors on Sunday, April 7th, TipRanks reports. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.

A number of other research analysts have also recently weighed in on the stock. Goldman Sachs Group upgraded shares of Incyte from a buy rating to a conviction-buy rating in a research note on Tuesday, January 15th. Guggenheim raised shares of Incyte from a neutral rating to a buy rating in a research report on Thursday, January 3rd. JPMorgan Chase & Co. reissued a buy rating on shares of Incyte in a research report on Thursday, January 10th. Cowen reissued a buy rating on shares of Incyte in a research report on Sunday, December 9th. Finally, 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 report on Wednesday, January 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Incyte presently has a consensus rating of Buy and an average target price of $90.42.

INCY traded down $1.25 during midday trading on Friday, hitting $78.15. The company had a trading volume of 1,252,645 shares, compared to its average volume of 1,457,723. The company has a market cap of $17.01 billion, a P/E ratio of 95.30 and a beta of 1.39. Incyte has a 52 week low of $57.00 and a 52 week high of $88.83. The company has a current ratio of 4.31, a quick ratio of 4.29 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Thursday, February 14th. The biopharmaceutical company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.15. Incyte had a net margin of 5.82% and a return on equity of 6.17%. The business had revenue of $528.40 million for the quarter, compared to analysts’ expectations of $485.72 million. During the same period in the previous year, the company earned $0.02 earnings per share. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, research analysts forecast that Incyte will post 1.27 EPS for the current fiscal year.

In other Incyte news, EVP Barry P. Flannelly sold 1,000 shares of the company’s stock in a transaction on Monday, January 28th. The shares were sold at an average price of $80.00, for a total value of $80,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yao Wenqing sold 15,354 shares of the company’s stock in a transaction on Thursday, January 17th. The stock was sold at an average price of $77.61, for a total transaction of $1,191,623.94. Following the completion of the transaction, the executive vice president now owns 49,763 shares of the company’s stock, valued at $3,862,106.43. The disclosure for this sale can be found here. Insiders have sold a total of 52,167 shares of company stock valued at $4,256,399 in the last three months. 17.10% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc increased its stake in shares of Incyte by 0.7% in the 3rd quarter. Vanguard Group Inc now owns 18,380,804 shares of the biopharmaceutical company’s stock worth $1,269,746,000 after acquiring an additional 120,700 shares in the last quarter. BlackRock Inc. increased its stake in Incyte by 1.1% during the 4th quarter. BlackRock Inc. now owns 15,262,962 shares of the biopharmaceutical company’s stock valued at $970,575,000 after purchasing an additional 167,751 shares in the last quarter. Norges Bank bought a new stake in Incyte during the 4th quarter valued at about $186,630,000. Geode Capital Management LLC increased its stake in Incyte by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 2,360,606 shares of the biopharmaceutical company’s stock valued at $149,854,000 after purchasing an additional 166,510 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Incyte by 3.3% during the 4th quarter. Northern Trust Corp now owns 1,973,435 shares of the biopharmaceutical company’s stock valued at $125,490,000 after acquiring an additional 62,842 shares during the last quarter. Institutional investors own 91.59% 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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