Incyte (NASDAQ:INCY) Earns Outperform Rating from William Blair

William Blair reaffirmed their outperform rating on shares of Incyte (NASDAQ:INCY - Free Report) in a research report sent to investors on Friday,RTT News reports.

A number of other brokerages have also issued reports on INCY. Citigroup boosted their price target on shares of Incyte from $92.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Incyte in a research note on Tuesday, November 19th. Truist Financial reissued a "hold" rating and issued a $74.00 price target (down previously from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. The Goldman Sachs Group boosted their price target on shares of Incyte from $63.00 to $70.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Incyte from a "buy" rating to a "strong-buy" rating in a research note on Thursday, November 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $76.18.

Incyte Trading Down 3.2 %

INCY traded down $2.28 during trading hours on Friday, reaching $68.55. The company's stock had a trading volume of 1,769,106 shares, compared to its average volume of 2,337,169. The business's 50-day moving average is $72.14 and its 200-day moving average is $66.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The stock has a market cap of $13.21 billion, a PE ratio of 489.64, a P/E/G ratio of 8.36 and a beta of 0.69. Incyte has a fifty-two week low of $50.35 and a fifty-two week high of $83.95.

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

Insider Buying and Selling at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at approximately $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Incyte

Institutional investors and hedge funds have recently made changes to their positions in the business. MFA Wealth Advisors LLC acquired a new stake in shares of Incyte during the second quarter worth $26,000. Brooklyn Investment Group purchased a new position in Incyte during the 3rd quarter worth $30,000. Innealta Capital LLC acquired a new stake in shares of Incyte in the 2nd quarter worth $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte in the third quarter valued at about $33,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Incyte during the second quarter worth about $36,000. 96.97% of the stock is 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.