Incyte (NASDAQ:INCY) Earns Neutral Rating from Analysts at UBS Group

Equities researchers at UBS Group assumed coverage on shares of Incyte (NASDAQ:INCY) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set a “neutral” rating and a $77.00 price target on the biopharmaceutical company’s stock. UBS Group’s price target suggests a potential upside of 13.99% from the stock’s current price.

A number of other equities analysts have also recently issued reports on INCY. Citigroup increased their target price on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley increased 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. Guggenheim boosted their target price on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Truist Financial reiterated a “hold” rating and set a $74.00 target price (down previously from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. Finally, Oppenheimer boosted their price target on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte presently has an average rating of “Hold” and a consensus target price of $76.18.

Incyte Stock Down 2.7 %

INCY opened at $67.55 on Tuesday. The company has a market capitalization of $13.01 billion, a P/E ratio of 482.53, a P/E/G ratio of 8.36 and a beta of 0.69. 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 firm’s fifty day moving average price is $72.33 and its two-hundred day moving average price is $66.49. Incyte has a fifty-two week low of $50.35 and a fifty-two week high of $83.95.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The business had revenue of $1.14 billion for 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 revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share. On average, analysts anticipate that Incyte will post 0.4 EPS for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction that occurred 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 sale, the executive vice president now owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,023 shares of company stock worth $839,711. Insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Incyte

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group acquired a new position in shares of Incyte in the 3rd quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Incyte in the third quarter valued at about $33,000. Innealta Capital LLC acquired a new position in Incyte in the second quarter valued at about $32,000. Cromwell Holdings LLC grew its position in shares of 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 buying an additional 283 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Incyte in the 2nd quarter valued at about $36,000. 96.97% of the stock is owned by 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.