Incyte (NASDAQ:INCY) Now Covered by Analysts at UBS Group

UBS Group assumed coverage on shares of Incyte (NASDAQ:INCY) in a research report released on Tuesday morning, MarketBeat reports. The brokerage issued a neutral rating and a $77.00 price target on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently weighed in on INCY. Morgan Stanley raised their price target on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group lifted their price target on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Guggenheim boosted their target price on shares of Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $76.18.

Incyte Stock Down 0.6 %

Shares of NASDAQ INCY opened at $69.40 on Tuesday. The business has a fifty day moving average of $72.29 and a two-hundred day moving average of $66.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. Incyte has a 52-week low of $50.35 and a 52-week high of $83.95. The stock has a market cap of $13.37 billion, a PE ratio of 495.71, a PEG ratio of 8.36 and a beta of 0.69.

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

Insider Activity at Incyte

In related news, 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 transaction of $293,222.40. Following the sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. This trade represents a 5.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,023 shares of company stock worth $839,711 in the last ninety days. Company insiders own 17.60% of the company’s stock.

Institutional Trading of Incyte

Large investors have recently bought and sold shares of the business. Haverford Trust Co boosted its holdings in shares of Incyte by 1.8% in the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after buying an additional 135 shares during the period. V Square Quantitative Management LLC lifted its position in Incyte by 4.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock valued at $262,000 after acquiring an additional 155 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its stake in Incyte by 37.1% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 164 shares during the period. Ballentine Partners LLC increased its holdings in Incyte by 4.0% during the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock worth $287,000 after purchasing an additional 182 shares in the last quarter. Finally, Tectonic Advisors LLC increased its holdings in Incyte by 1.6% during the 3rd quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock worth $819,000 after purchasing an additional 190 shares in the last quarter. 96.97% of the stock is owned by 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.