Incyte Co. (NASDAQ:INCY – Free Report) – William Blair lowered their Q4 2024 earnings per share estimates for Incyte in a research note issued on Tuesday, January 21st. William Blair analyst M. Phipps now expects that the biopharmaceutical company will post earnings per share of $1.07 for the quarter, down from their prior estimate of $1.09. William Blair has a “Outperform” rating on the stock. The consensus estimate for Incyte’s current full-year earnings is $0.40 per share.
A number of other research analysts also recently issued reports on the stock. Citigroup raised their price target on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group began coverage on shares of Incyte in a report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price on the stock. Oppenheimer upped their target price on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and raised their price target for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.29.
Incyte Stock Performance
Incyte stock opened at $72.41 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. Incyte has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a fifty day moving average price of $72.02 and a two-hundred day moving average price of $68.27. The company has a market cap of $13.95 billion, a PE ratio of 517.25, a P/E/G ratio of 0.52 and a beta of 0.71.
Incyte (NASDAQ:INCY – Get Free Report) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Incyte’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS.
Insider Activity
In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Tray sold 650 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $70.64, for a total value of $45,916.00. Following the sale, the insider now owns 23,962 shares of the company’s stock, valued at $1,692,675.68. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,375 shares of company stock worth $1,737,578 over the last 90 days. 17.60% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Incyte
Institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in shares of Incyte by 70.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after purchasing an additional 1,101,041 shares during the period. Point72 Asset Management L.P. purchased a new stake in Incyte during the third quarter valued at about $156,611,000. Mizuho Securities USA LLC boosted its holdings in shares of Incyte by 13,814.7% in the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after buying an additional 1,985,726 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Incyte by 29.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock worth $106,369,000 after acquiring an additional 364,169 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Incyte by 5.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,265,966 shares of the biopharmaceutical company’s stock valued at $83,680,000 after acquiring an additional 70,596 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.
About Incyte
Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.
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