Incyte (NASDAQ:INCY) PT Raised to $92.00 at Guggenheim

Incyte (NASDAQ:INCY) had its price target increased by Guggenheim from $86.00 to $92.00 in a research report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also issued reports on the stock. William Blair reissued an outperform rating on shares of Incyte in a report on Monday, September 9th. JPMorgan Chase & Co. increased their price target on shares of Incyte from $59.00 to $61.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reaffirmed a neutral rating on shares of Incyte in a research report on Monday. Oppenheimer lowered their price objective on Incyte from $84.00 to $81.00 and set an outperform rating for the company in a research report on Friday, July 26th. Finally, Royal Bank of Canada restated a sector perform rating and issued a $67.00 target price on shares of Incyte in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Incyte has an average rating of Hold and an average target price of $73.24.

Incyte Trading Down 1.9 %

INCY opened at $65.17 on Monday. The firm has a market capitalization of $14.63 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 5.03 and a beta of 0.73. The company’s 50 day simple moving average is $64.23 and its two-hundred day simple moving average is $59.70. Incyte has a 1-year low of $50.27 and a 1-year high of $70.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 EPS. Analysts expect that Incyte will post 0.67 EPS for the current fiscal year.

Insider Activity at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the sale, the executive vice president now owns 36,701 shares in the company, valued at approximately $2,569,070. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the transaction, the executive vice president now owns 36,701 shares in the company, valued at approximately $2,569,070. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Tray sold 572 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,047 shares of company stock worth $2,225,626. Company insiders own 17.50% of the company’s stock.

Institutional Trading of Incyte

A number of institutional investors have recently bought and sold shares of the business. Deseret Mutual Benefit Administrators raised its position in shares of Incyte by 37.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 164 shares in the last quarter. Moody National Bank Trust Division boosted its holdings in Incyte by 1.3% in the second quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock valued at $861,000 after purchasing an additional 179 shares in the last quarter. Ballentine Partners LLC increased its stake in Incyte by 4.0% in the second quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock valued at $287,000 after purchasing an additional 182 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in Incyte by 4.5% during the first quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock worth $271,000 after purchasing an additional 204 shares in the last quarter. Finally, Empirical Finance LLC lifted its position in shares of Incyte by 3.7% during the 1st quarter. Empirical Finance LLC now owns 6,395 shares of the biopharmaceutical company’s stock worth $364,000 after buying an additional 230 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

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.