Incyte’s (INCY) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reissued their market perform rating on shares of Incyte (NASDAQ:INCY) in a report issued on Tuesday morning,Benzinga reports.

INCY has been the topic of a number of other reports. The Goldman Sachs Group boosted their price target on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Oppenheimer boosted their target price on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Guggenheim raised their price target on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Citigroup boosted their price objective on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley raised their target price on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.29.

Incyte Trading Up 0.0 %

Shares of Incyte stock opened at $72.47 on Tuesday. Incyte has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of 517.68, a PEG ratio of 0.51 and a beta of 0.71. The stock has a 50 day moving average of $72.78 and a 200 day moving average of $67.81.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data 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 negative return on equity of 0.63% and a net margin of 0.80%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business posted $0.91 earnings per share. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, research analysts predict that Incyte will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Thomas Tray sold 650 shares of the business’s 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 completion of the sale, the insider now directly owns 23,312 shares of the company’s stock, valued at $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the transaction, the executive vice president now owns 58,042 shares of the company’s stock, valued at $4,624,786.56. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,023 shares of company stock valued at $839,711 in the last ninety days. Insiders own 17.60% of the company’s stock.

Institutional Trading of Incyte

Several institutional investors and hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in Incyte during the third quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Incyte in the 3rd quarter valued at $33,000. Cromwell Holdings LLC boosted its stake in Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 283 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Incyte in the second quarter valued at $36,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Incyte in the third quarter valued at about $45,000. 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.