StockNews.com Downgrades Incyte (NASDAQ:INCY) to Buy

Incyte (NASDAQ:INCY - Get Free Report) was downgraded by stock analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued on Wednesday.

Other equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. UBS Group initiated coverage on Incyte in a report on Tuesday, December 17th. They set a "neutral" rating and a $77.00 target price for the company. Royal Bank of Canada cut their price target on Incyte from $70.00 to $68.00 and set a "sector perform" rating on the stock in a report on Tuesday. Morgan Stanley upped their price objective on Incyte from $64.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Incyte from $65.00 to $71.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $75.59.

Incyte Stock Up 0.6 %

Shares of Incyte stock traded up $0.41 on Wednesday, hitting $70.42. 1,882,071 shares of the company's stock traded hands, compared to its average volume of 1,255,658. 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 stock has a market cap of $13.63 billion, a P/E ratio of 503.04, a PEG ratio of 0.53 and a beta of 0.70. The firm's 50-day moving average is $71.26 and its 200 day moving average is $69.18.

Incyte (NASDAQ:INCY - Get Free Report) last released its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.48). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Equities analysts anticipate that Incyte will post 0.35 earnings per share for the current year.

Insider Activity

In other news, insider Thomas Tray sold 650 shares of the firm'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 sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of the company's 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 directly owns 30,658 shares in the company, valued at $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,695 shares of company stock worth $1,444,356 over the last 90 days. 17.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Incyte

Institutional investors and hedge funds have recently bought and sold shares of the business. Orion Portfolio Solutions LLC acquired a new stake in shares of Incyte during the third quarter worth approximately $770,000. CWA Asset Management Group LLC acquired a new stake in shares of Incyte during the 4th quarter valued at $1,933,000. Greenwood Capital Associates LLC purchased a new position in shares of Incyte during the 3rd quarter valued at $433,000. Tri Ri Asset Management Corp acquired a new position in shares of Incyte in the third quarter worth $3,292,000. Finally, Cypress Capital Group purchased a new stake in shares of Incyte during the third quarter worth $971,000. Hedge funds and other institutional investors own 96.97% of the company's stock.

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.