Incyte (NASDAQ:INCY) Rating Reiterated by BMO Capital Markets

Incyte (NASDAQ:INCY)‘s stock had its “underperform” rating reiterated by equities research analysts at BMO Capital Markets in a report issued on Tuesday, MarketBeat reports. They currently have a $48.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $52.00. BMO Capital Markets’ price target suggests a potential downside of 16.75% from the stock’s previous close.

INCY has been the topic of a number of other reports. TD Cowen cut their target price on Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Oppenheimer cut their target price on Incyte from $92.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $65.00 target price on shares of Incyte in a research report on Monday, March 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Incyte in a research report on Thursday, May 23rd. They set a “hold” rating and a $55.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $73.44.

Incyte Stock Down 2.3 %

INCY opened at $57.66 on Tuesday. Incyte has a one year low of $50.27 and a one year high of $67.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. The stock’s fifty day moving average is $57.73 and its 200-day moving average is $58.66. The company has a market capitalization of $12.95 billion, a PE ratio of 17.48, a P/E/G ratio of 1.31 and a beta of 0.73.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The firm had revenue of $880.89 million during the quarter, compared to the consensus estimate of $935.85 million. On average, equities analysts predict that Incyte will post 3.57 EPS for the current fiscal year.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the transaction, the insider now owns 21,634 shares in the company, valued at $1,274,458.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the sale, the insider now owns 21,634 shares in the company, valued at approximately $1,274,458.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 19,164 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total value of $1,149,840.00. Following the sale, the executive vice president now owns 66,377 shares of the company’s stock, valued at approximately $3,982,620. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company’s stock.

Institutional Trading of Incyte

Several large investors have recently made changes to their positions in the stock. Mariner LLC lifted its position in shares of Incyte by 12.4% during the 3rd quarter. Mariner LLC now owns 8,202 shares of the biopharmaceutical company’s stock worth $474,000 after purchasing an additional 903 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Incyte by 44.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,634 shares of the biopharmaceutical company’s stock worth $672,000 after purchasing an additional 3,605 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of Incyte by 14.8% during the 3rd quarter. Bank of Nova Scotia now owns 24,541 shares of the biopharmaceutical company’s stock worth $1,418,000 after purchasing an additional 3,172 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Incyte by 746.0% during the 3rd quarter. Lazard Asset Management LLC now owns 99,298 shares of the biopharmaceutical company’s stock worth $5,736,000 after purchasing an additional 87,560 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Incyte by 2.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 23,688 shares of the biopharmaceutical company’s stock worth $1,368,000 after purchasing an additional 658 shares during the last quarter. 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.