Incyte (NASDAQ:INCY - Get Free Report)'s stock had its "market perform" rating reissued by analysts at JMP Securities in a note issued to investors on Tuesday,Benzinga reports.
Other equities research analysts also recently issued reports about the company. William Blair reiterated an "outperform" rating on shares of Incyte in a research report on Friday, December 13th. BMO Capital Markets restated an "underperform" rating and set a $52.00 price objective (up from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Bank of America upgraded Incyte from a "neutral" rating to a "buy" rating and upped their price objective for the company from $68.00 to $90.00 in a research report on Tuesday, October 29th. Oppenheimer upped their price objective on Incyte from $81.00 to $82.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley upped their price objective on Incyte from $64.00 to $69.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. One research 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $75.59.
Get Our Latest Research Report on Incyte
Incyte Price Performance
Shares of NASDAQ:INCY traded down $0.03 during mid-day trading on Tuesday, reaching $69.98. The stock had a trading volume of 960,991 shares, compared to its average volume of 1,614,936. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The company has a market cap of $13.48 billion, a P/E ratio of 499.19, a price-to-earnings-growth ratio of 0.53 and a beta of 0.70. Incyte has a 1 year low of $50.35 and a 1 year high of $83.95. The business's 50 day moving average price is $71.37 and its 200 day moving average price is $69.17.
Incyte (NASDAQ:INCY - Get Free Report) last posted 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%. Research analysts expect that Incyte will post 0.35 EPS for the current fiscal year.
Insider Buying and Selling
In other Incyte news, insider Thomas Tray sold 650 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the sale, the insider now owns 23,962 shares of the company's stock, valued at approximately $1,692,675.68. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the 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 sale, the executive vice president now directly owns 30,658 shares in the company, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,695 shares of company stock valued at $1,444,356 over the last quarter. 17.60% of the stock is owned by corporate insiders.
Institutional Trading of Incyte
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Orion Portfolio Solutions LLC bought a new stake in Incyte during the 3rd quarter valued at $770,000. CWA Asset Management Group LLC purchased a new stake in shares of Incyte during the 4th quarter valued at $1,933,000. Greenwood Capital Associates LLC purchased a new stake in shares of Incyte during the 3rd quarter valued at $433,000. Tri Ri Asset Management Corp purchased a new stake in shares of Incyte during the 3rd quarter valued at $3,292,000. Finally, Cypress Capital Group purchased a new stake in shares of Incyte during the 3rd quarter valued at $971,000. Institutional investors own 96.97% of the company's stock.
Incyte Company Profile
(
Get Free Report)
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.
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