Incyte (NASDAQ:INCY) Given New $77.00 Price Target at Stifel Nicolaus

Incyte (NASDAQ:INCY) had its price target increased by Stifel Nicolaus from $75.00 to $77.00 in a research report sent to investors on Monday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the company. Wells Fargo & Company lifted their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. boosted their target price on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets reiterated an “underperform” rating and issued a $52.00 price target (up previously from $48.00) on shares of Incyte in a report on Wednesday, October 30th. UBS Group started coverage on shares of Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective on the stock. Finally, Oppenheimer upped their target price on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Incyte presently has an average rating of “Hold” and a consensus price target of $75.71.

Incyte Price Performance

Incyte stock opened at $68.30 on Monday. The business has a 50 day simple moving average of $71.79 and a 200-day simple moving average of $69.18. Incyte has a 12 month low of $50.35 and a 12 month high of $83.95. 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 capitalization of $13.16 billion, a PE ratio of 487.89, a price-to-earnings-growth ratio of 0.53 and a beta of 0.70.

Incyte (NASDAQ:INCY) last released its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Equities analysts predict that Incyte will post 0.35 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the sale, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at $2,311,000.04. The trade was a 16.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,695 shares of company stock valued at $1,444,356. Company insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Incyte

Several hedge funds and other institutional investors have recently made changes to their positions in INCY. Quintet Private Bank Europe S.A. purchased a new position in Incyte in the fourth quarter valued at about $26,000. Global X Japan Co. Ltd. grew its stake in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 230 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Incyte during the 4th quarter valued at about $30,000. Brooklyn Investment Group acquired a new position in Incyte during the 3rd quarter worth approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Incyte in the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds 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.