Incyte (NASDAQ:INCY) Rating Lowered to Market Perform at William Blair

Incyte (NASDAQ:INCY) was downgraded by research analysts at William Blair from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday,Finviz reports.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. UBS Group began coverage on shares of Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $75.25.

Incyte Price Performance

Incyte stock opened at $62.01 on Tuesday. Incyte has a 1 year low of $50.35 and a 1 year high of $83.95. The firm has a 50 day moving average price of $71.55 and a 200 day moving average price of $70.31. The company has a market cap of $12.00 billion, a price-to-earnings ratio of 229.68, a PEG ratio of 0.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97.

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 return on equity of 0.05% and a net margin of 0.77%. Sell-side analysts predict that Incyte will post 4.86 earnings per share for the current year.

Insider Activity at Incyte

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the sale, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at approximately $1,914,561.36. This represents a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares in the company, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,020 shares of company stock valued at $1,981,882 over the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Institutional Trading of Incyte

A number of institutional investors and hedge funds have recently modified their holdings of the business. Retirement Systems of Alabama raised its holdings in shares of Incyte by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock worth $2,391,000 after purchasing an additional 139 shares during the period. Nissay Asset Management Corp Japan ADV grew its position in shares of Incyte by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 20,371 shares of the biopharmaceutical company’s stock worth $1,410,000 after acquiring an additional 150 shares during the last quarter. Trust Point Inc. grew its position in shares of Incyte by 5.0% during the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after acquiring an additional 156 shares during the last quarter. Bank of Nova Scotia grew its position in shares of Incyte by 0.8% during the fourth quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company’s stock worth $1,498,000 after acquiring an additional 171 shares during the last quarter. Finally, Mather Group LLC. grew its position in shares of Incyte by 26.4% during the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 173 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

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.