Incyte (NASDAQ:INCY) Stock Rating Lowered by StockNews.com

Incyte (NASDAQ:INCY) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.

INCY has been the topic of several other research reports. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. Citigroup lifted their target price on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on Incyte from $72.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $77.16.

Incyte Price Performance

Shares of Incyte stock traded up $0.49 during mid-day trading on Wednesday, reaching $71.05. 2,312,364 shares of the stock were exchanged, compared to its average volume of 2,377,626. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The company has a market cap of $13.69 billion, a price-to-earnings ratio of 507.54, a price-to-earnings-growth ratio of 8.75 and a beta of 0.71. Incyte has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The firm has a 50-day simple moving average of $69.59 and a 200 day simple moving average of $64.24.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s revenue was up 23.8% on a year-over-year basis. On average, sell-side analysts predict that Incyte will post 0.4 EPS for the current fiscal year.

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction 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 sale, the executive vice president now directly owns 58,042 shares in the company, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Tray sold 572 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,702 shares of company stock valued at $856,166 over the last quarter. Corporate insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Incyte

Institutional investors and hedge funds have recently made changes to their positions in the stock. MFA Wealth Advisors LLC acquired a new position in Incyte during the second quarter worth $26,000. Brooklyn Investment Group acquired a new position in shares of Incyte during the 3rd quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Incyte in the 3rd quarter valued at about $33,000. Innealta Capital LLC bought a new position in Incyte during the second quarter worth about $32,000. Finally, Cromwell Holdings LLC increased its position in Incyte by 101.1% during the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 283 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Company Profile

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.