Incyte Corp. (NASDAQ:INCY)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Monday, Analyst Ratings.Net reports. They currently have a $42.00 target price on the stock. Zacks‘ price objective would indicate a potential upside of 3.96% from the company’s current price.
Zacks‘ analyst wrote, “Incyte reported loss of $0.13 per share in the third quarter of 2013, narrower that the year-ago loss of $0.17 but in line with the loss hinted by the Zacks Consensus Estimate. The company expects 2013 Jakafi sales to be at the higher end of its guidance range of $220-$230 million. Jakafi has performed well since launch and is expected to keep doing so going forward. We are encouraged by the company’s efforts to expand Jakafi’s label. Successful label expansion of the drug should drive growth further. However, we remain concerned about Incyte’s dependence on a single product for growth. We retain our Neutral recommendation on the stock. Our target price is at $42.00.”
Shares of Incyte Corp. (NASDAQ:INCY) remained flat at $40.40 during during mid-day trading trading on Monday. The stock had a trading volume of 1,082,707 shares. Incyte Corp. has a 52 week low of $15.78 and a 52 week high of $41.95. The stock’s 50-day moving average is $37.91 and its 200-day moving average is $28.1. The company’s market cap is $5.409 billion.
Incyte Corp. (NASDAQ:INCY) last released its earnings data on Thursday, October 31st. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by $0.01. The company had revenue of $85.10 million for the quarter, compared to the consensus estimate of $81.40 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The company’s revenue for the quarter was up 40.7% on a year-over-year basis. Analysts expect that Incyte Corp. will post $-0.35 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on INCY. Analysts at UBS AG raised their price target on shares of Incyte Corp. from $42.00 to $47.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Guggenheim raised their price target on shares of Incyte Corp. from $47.00 to $50.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Incyte Corp. from $39.00 to $45.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the stock. Incyte Corp. has a consensus rating of “Buy” and an average target price of $39.00.
Incyte Corporation (NASDAQ:INCY) is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs to treat serious unmet medical needs.
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