Incyte’s (INCY) Market Perform Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market perform rating on shares of Incyte (NASDAQ:INCY) in a research report report published on Tuesday,Benzinga reports.

Several other equities research analysts have also weighed in on the stock. Wells Fargo & Company upped their target price on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Morgan Stanley upped their price objective on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and lifted their target price for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. Oppenheimer boosted their target price on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, UBS Group began coverage on Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $76.29.

Incyte Stock Down 0.6 %

Shares of INCY opened at $71.93 on Tuesday. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $72.95 and a two-hundred day moving average price of $67.78. The stock has a market cap of $13.86 billion, a price-to-earnings ratio of 513.82, a P/E/G ratio of 7.90 and a beta of 0.71. Incyte has a 12 month low of $50.35 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY) last posted 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). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company 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 business earned $0.91 EPS. Incyte’s quarterly revenue was up 23.8% compared to the same quarter last year. Equities analysts predict that Incyte will post 0.4 EPS for the current fiscal year.

Insider Transactions at Incyte

In other Incyte news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $70.64, for a total value of $45,916.00. Following the completion of the transaction, the insider now directly owns 23,962 shares of the company’s stock, valued at approximately $1,692,675.68. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,023 shares of company stock worth $839,711. 17.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Incyte

Institutional investors and hedge funds have recently modified their holdings of the business. Brooklyn Investment Group bought a new position in Incyte in the third quarter valued at approximately $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Incyte in the 3rd quarter worth $33,000. Itau Unibanco Holding S.A. bought a new position in Incyte during the 2nd quarter worth about $36,000. Cromwell Holdings LLC increased its holdings in Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 283 shares in the last quarter. Finally, Groupama Asset Managment lifted its holdings in shares of Incyte by 11.4% in the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 6,105 shares in the last quarter. 96.97% of the stock is currently 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.