Incyte (NASDAQ:INCY) Upgraded at StockNews.com

StockNews.com upgraded shares of Incyte (NASDAQ:INCY) from a buy rating to a strong-buy rating in a report released on Thursday.

INCY has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Wells Fargo & Company raised their price objective on Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Tuesday, November 19th. Finally, Morgan Stanley upped their price objective on Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus price target of $77.16.

Incyte Price Performance

INCY stock opened at $74.59 on Thursday. The stock has a market cap of $14.37 billion, a PE ratio of 532.82, a price-to-earnings-growth ratio of 8.60 and a beta of 0.71. The stock has a 50-day moving average price of $70.76 and a two-hundred day moving average price of $65.22. Incyte has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

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

Insider Activity at Incyte

In other news, insider Thomas Tray sold 572 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the sale, the insider now directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This represents a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the transaction, the executive vice president now owns 58,042 shares in the company, valued at $4,624,786.56. The trade was a 5.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,702 shares of company stock worth $856,166. Corporate insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Incyte

Large investors have recently bought and sold shares of the company. Tri Ri Asset Management Corp bought a new stake in shares of Incyte during the 3rd quarter worth approximately $3,292,000. Toronto Dominion Bank raised its position in Incyte by 16.9% during the third quarter. Toronto Dominion Bank now owns 54,084 shares of the biopharmaceutical company’s stock valued at $3,575,000 after purchasing an additional 7,812 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in Incyte during the third quarter worth $302,000. Barclays PLC boosted its holdings in shares of Incyte by 8.1% in the 3rd quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock valued at $68,208,000 after purchasing an additional 77,542 shares in the last quarter. Finally, Groupama Asset Managment increased its stake in shares of Incyte by 11.4% in the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 6,105 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

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.