Incyte (NASDAQ:INCY) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Incyte (NASDAQ:INCY) in a research report released on Thursday morning,Benzinga reports. They currently have a $70.00 target price on the biopharmaceutical company’s stock.

INCY has been the topic of a number of other reports. BMO Capital Markets reiterated an “underperform” rating and issued a $52.00 price objective (up from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Morgan Stanley boosted their price objective on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Wolfe Research started coverage on shares of Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price objective for the company. Citigroup boosted their price target on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, JMP Securities reiterated a “market perform” rating on shares of Incyte in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $75.71.

Incyte Stock Up 0.2 %

Shares of NASDAQ INCY opened at $72.53 on Thursday. The firm’s fifty day moving average is $71.86 and its 200 day moving average is $68.30. Incyte has a 52 week low of $50.35 and a 52 week high of $83.95. 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 market cap of $13.97 billion, a price-to-earnings ratio of 518.11, a PEG ratio of 0.53 and a beta of 0.71.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Incyte’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 EPS. On average, equities research analysts expect that Incyte will post 0.4 earnings per share for the current year.

Insider Transactions at Incyte

In other 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 transaction of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at $4,624,786.56. This trade represents a 5.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas Tray sold 650 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the sale, the insider now owns 23,312 shares of the company’s stock, valued at $1,615,754.72. This trade represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,375 shares of company stock worth $1,737,578. Corporate insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INCY. R Squared Ltd bought a new stake in Incyte during the 4th quarter worth approximately $30,000. Brooklyn Investment Group bought a new position in Incyte in the 3rd quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Incyte in the 3rd quarter worth $33,000. Cromwell Holdings LLC raised its holdings in Incyte by 101.1% during the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 283 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Incyte by 124.6% in the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 329 shares in the last quarter. Institutional investors 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.