Incyte (INCY) Given a $78.00 Price Target by Credit Suisse Group Analysts

Credit Suisse Group set a $78.00 price objective on Incyte (NASDAQ:INCY) in a report issued on Tuesday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Other research analysts have also recently issued research reports about the company. Nomura reiterated a buy rating on shares of Incyte in a research report on Thursday, February 1st. UBS upgraded Incyte from a neutral rating to a buy rating and set a $76.00 target price on the stock in a research report on Thursday, April 12th. BMO Capital Markets reiterated a buy rating and issued a $172.00 target price on shares of Incyte in a research report on Wednesday, January 3rd. Gabelli cut Incyte from a buy rating to a hold rating in a research report on Monday, April 9th. Finally, ValuEngine upgraded Incyte from a sell rating to a hold rating in a research report on Thursday, March 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $117.95.

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INCY stock opened at $70.52 on Tuesday. The stock has a market capitalization of $14,904.28, a P/E ratio of 110.19 and a beta of 0.66. Incyte has a 52 week low of $61.30 and a 52 week high of $140.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.01 and a quick ratio of 3.99.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.54. The business had revenue of $444.20 million during the quarter, compared to the consensus estimate of $435.23 million. Incyte had a negative return on equity of 11.85% and a negative net margin of 20.38%. Incyte’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 earnings per share. sell-side analysts predict that Incyte will post 0.01 earnings per share for the current fiscal year.

In other news, insider David W. Gryska sold 1,952 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $85.56, for a total transaction of $167,013.12. Following the sale, the insider now directly owns 12,922 shares in the company, valued at $1,105,606.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Reid M. Huber sold 1,958 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $85.55, for a total value of $167,506.90. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Sands Capital Management LLC lifted its stake in shares of Incyte by 8.2% in the fourth quarter. Sands Capital Management LLC now owns 8,191,287 shares of the biopharmaceutical company’s stock worth $775,797,000 after acquiring an additional 621,323 shares during the period. Geode Capital Management LLC lifted its stake in shares of Incyte by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 1,938,238 shares of the biopharmaceutical company’s stock worth $183,205,000 after acquiring an additional 105,692 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Incyte by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,682,019 shares of the biopharmaceutical company’s stock worth $159,304,000 after acquiring an additional 7,463 shares during the period. HealthCor Management L.P. lifted its stake in shares of Incyte by 125.5% in the fourth quarter. HealthCor Management L.P. now owns 1,350,000 shares of the biopharmaceutical company’s stock worth $127,859,000 after acquiring an additional 751,450 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of Incyte by 10.5% in the fourth quarter. Two Sigma Advisers LP now owns 990,182 shares of the biopharmaceutical company’s stock worth $93,780,000 after acquiring an additional 94,373 shares during the period. 93.56% of the stock is currently owned by institutional investors.

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Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Analyst Recommendations for Incyte (NASDAQ:INCY)

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