JMP Securities Reaffirms “Market Perform” Rating for Incyte (NASDAQ:INCY)

Incyte (NASDAQ:INCY)‘s stock had its “market perform” rating reissued by research analysts at JMP Securities in a research report issued on Tuesday,Benzinga reports.

A number of other equities research analysts also recently weighed in on INCY. Morgan Stanley boosted their price target on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Citigroup raised their price target on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets reissued an “underperform” rating and issued a $52.00 target price (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. Finally, The Goldman Sachs Group lifted their price objective on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One research 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. According to data from MarketBeat, Incyte has an average rating of “Hold” and a consensus target price of $76.29.

Incyte Trading Up 1.8 %

INCY stock opened at $73.68 on Tuesday. The business has a fifty day moving average price of $73.06 and a 200 day moving average price of $67.70. 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 $14.19 billion, a price-to-earnings ratio of 526.32, a P/E/G ratio of 7.90 and a beta of 0.71. 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 quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 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 company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the company earned $0.91 EPS. The firm’s revenue was up 23.8% compared to the same quarter last year. Analysts expect that Incyte will post 0.4 EPS for the current fiscal year.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the sale, the executive vice president now owns 58,042 shares in the company, valued at $4,624,786.56. The trade was a 5.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the 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 transaction, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,023 shares of company stock worth $839,711. Insiders own 17.60% of the company’s stock.

Institutional Trading of Incyte

Several large investors have recently modified their holdings of the stock. Pacer Advisors Inc. raised its holdings in shares of Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after buying an additional 2,676,851 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Incyte in the 3rd quarter valued at approximately $156,611,000. Mizuho Securities USA LLC boosted its position in Incyte by 13,814.7% in the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after buying an additional 1,985,726 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after acquiring an additional 1,101,041 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in shares of Incyte by 2,486.8% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 394,646 shares of the biopharmaceutical company’s stock worth $23,923,000 after purchasing an additional 379,390 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

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.