Incyte's (INCY) "Market Perform" Rating Reiterated at JMP Securities

Incyte (NASDAQ:INCY - Get Free Report)'s stock had its "market perform" rating reiterated by research analysts at JMP Securities in a note issued to investors on Tuesday,Benzinga reports.

A number of other research firms have also commented on INCY. Citigroup lifted their target price on shares of Incyte from $92.00 to $97.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on Incyte from $72.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday, November 14th. William Blair reissued an "outperform" rating on shares of Incyte in a research note on Friday, December 13th. Wells Fargo & Company boosted their target price on Incyte from $68.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 19th. Finally, UBS Group began coverage on shares of Incyte in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 price target on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $76.29.

Incyte Trading Down 0.6 %

Shares of INCY stock traded down $0.44 on Tuesday, reaching $71.93. 1,595,842 shares of the stock were exchanged, compared to its average volume of 1,650,479. 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. The stock has a market cap of $13.86 billion, a PE ratio of 513.82, a P/E/G ratio of 7.90 and a beta of 0.71. The stock has a 50 day moving average price of $72.95 and a 200 day moving average price of $67.78.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The business's revenue for the quarter was up 23.8% compared to the same quarter last year. Equities research analysts forecast that Incyte will post 0.4 EPS for the current fiscal year.

Insider Activity

In other Incyte news, insider Thomas Tray sold 650 shares of Incyte stock in a transaction on Monday, December 16th. The shares were sold at an average price of $69.31, for a total value of $45,051.50. Following the sale, the insider now directly owns 23,312 shares in the company, valued at approximately $1,615,754.72. The trade was a 2.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction dated Wednesday, November 6th. The stock was 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 of the company's stock, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,023 shares of company stock worth $839,711 over the last three months. Corporate insiders own 17.60% of the company's stock.

Institutional Trading of Incyte

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