Incyte (NASDAQ:INCY) Price Target Raised to $77.00 at Stifel Nicolaus

Incyte (NASDAQ:INCY - Get Free Report) had its price target lifted by equities research analysts at Stifel Nicolaus from $75.00 to $77.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the biopharmaceutical company's stock. Stifel Nicolaus' target price would suggest a potential upside of 10.04% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. StockNews.com upgraded shares of Incyte from a "buy" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Citigroup decreased their price target on shares of Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a research note on Tuesday. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $70.00 price objective on shares of Incyte in a report on Thursday, January 23rd. Morgan Stanley raised their price target on shares of Incyte from $64.00 to $69.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets reaffirmed an "underperform" rating and set a $52.00 price objective (up from $48.00) on shares of Incyte in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Incyte currently has a consensus rating of "Hold" and an average price target of $75.59.

Incyte Stock Down 0.1 %

Shares of INCY stock traded down $0.04 on Monday, reaching $69.97. 960,991 shares of the company were exchanged, compared to its average volume of 1,614,936. The company has a market cap of $13.48 billion, a price-to-earnings ratio of 499.19, a PEG ratio of 0.53 and a beta of 0.70. The company has a 50-day moving average of $71.37 and a 200-day moving average of $69.17. 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 one year low of $50.35 and a one year high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (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%. Analysts anticipate that Incyte will post 0.35 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Steven H. Stein sold 12,352 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now owns 66,967 shares of the company's stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas Tray sold 650 shares of the business's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the sale, the insider now directly owns 23,312 shares in the company, valued at $1,615,754.72. The trade was a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,695 shares of company stock valued at $1,444,356 over the last quarter. Corporate insiders own 17.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Orion Portfolio Solutions LLC bought a new position in shares of Incyte in the third quarter worth approximately $770,000. CWA Asset Management Group LLC bought a new position in shares of Incyte in the fourth quarter worth approximately $1,933,000. Greenwood Capital Associates LLC bought a new position in shares of Incyte in the third quarter worth approximately $433,000. Tri Ri Asset Management Corp bought a new position in shares of Incyte in the third quarter worth approximately $3,292,000. Finally, Cypress Capital Group bought a new position in shares of Incyte in the third quarter worth approximately $971,000. 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.