Incyte (NASDAQ:INCY) Given “Market Perform” Rating at JMP Securities

JMP Securities reissued their market perform rating on shares of Incyte (NASDAQ:INCY) in a research note released on Tuesday morning,Benzinga reports.

Several other equities research analysts have also recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Citigroup reduced their price target on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday. Royal Bank of Canada reduced their price target on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $90.00 in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company boosted their price target on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and a consensus target price of $75.59.

Incyte Trading Down 2.9 %

Incyte stock opened at $66.33 on Tuesday. The stock has a market cap of $12.78 billion, a P/E ratio of 473.82, a PEG ratio of 0.53 and a beta of 0.70. 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 1 year low of $50.35 and a 1 year high of $83.95. The firm’s 50 day moving average price is $71.69 and its 200-day moving average price is $69.18.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. On average, equities analysts predict that Incyte will post 0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the transaction, the insider now directly owns 23,312 shares in the company, valued at approximately $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,695 shares of company stock worth $1,444,356. 17.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Incyte

Hedge funds have recently modified their holdings of the stock. Quintet Private Bank Europe S.A. acquired a new position in Incyte in the 4th quarter worth approximately $26,000. Global X Japan Co. Ltd. lifted its position in shares of Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 230 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Incyte during the 3rd quarter valued at approximately $30,000. R Squared Ltd purchased a new position in shares of Incyte during the 4th quarter valued at approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Incyte in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

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.