Incyte (NASDAQ:INCY) Earns Market Perform Rating from JMP Securities

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

INCY has been the topic of several other reports. Truist Financial restated a “hold” rating and set a $74.00 target price (down from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and upped their price target for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. Oppenheimer lifted their price objective on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their target price 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, UBS Group started coverage on shares of Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Incyte presently has a consensus rating of “Hold” and a consensus price target of $76.29.

Incyte Trading Up 0.0 %

NASDAQ INCY opened at $72.47 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 stock has a market capitalization of $13.96 billion, a P/E ratio of 517.68, a P/E/G ratio of 0.51 and a beta of 0.71. Incyte has a 52-week low of $50.35 and a 52-week high of $83.95. The firm has a 50-day moving average price of $72.78 and a 200 day moving average price of $67.81.

Incyte (NASDAQ:INCY) last issued its earnings results 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). 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 analysts’ expectations of $1.08 billion. During the same period last year, the company posted $0.91 earnings per share. The business’s quarterly revenue was up 23.8% on a year-over-year basis. Equities research analysts expect that Incyte will post 0.4 EPS for the current year.

Insider Buying and Selling

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction on Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares in the company, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the executive vice president now owns 58,042 shares in the company, valued at $4,624,786.56. The trade was a 5.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,023 shares of company stock worth $839,711. 17.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Incyte

A number of large investors have recently modified their holdings of INCY. Haverford Trust Co grew its holdings in shares of Incyte by 1.8% during the 3rd quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock worth $515,000 after purchasing an additional 135 shares during the period. V Square Quantitative Management LLC grew its stake in Incyte by 4.1% during the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 155 shares during the period. Tectonic Advisors LLC increased its position in shares of Incyte by 1.6% in the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock worth $819,000 after acquiring an additional 190 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Incyte by 3.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock valued at $361,000 after acquiring an additional 195 shares in the last quarter. Finally, Burney Co. lifted its holdings in shares of Incyte by 7.3% during the 4th quarter. Burney Co. now owns 3,262 shares of the biopharmaceutical company’s stock valued at $225,000 after acquiring an additional 223 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

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.