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

JMP Securities reaffirmed their market perform rating on shares of Incyte (NASDAQ:INCY) in a research report report published on Tuesday,Benzinga reports.

A number of other equities research analysts have also recently weighed in on the company. Wells Fargo & Company boosted their price objective on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. BMO Capital Markets restated an “underperform” rating and set a $52.00 price target (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. Oppenheimer upped their price target on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup cut their price target on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, UBS Group began coverage on Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $75.59.

Incyte Price Performance

Shares of NASDAQ INCY opened at $70.01 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. Incyte has a twelve month low of $50.35 and a twelve month high of $83.95. The stock has a 50 day moving average of $71.47 and a two-hundred day moving average of $69.16. The stock has a market cap of $13.49 billion, a P/E ratio of 500.11, a P/E/G ratio of 0.53 and a beta of 0.70.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. On average, research analysts forecast that Incyte will post 0.35 earnings per share for the current year.

Insider Buying and Selling

In other Incyte news, insider Thomas Tray sold 650 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the sale, the insider now owns 23,312 shares of the company’s stock, valued at approximately $1,615,754.72. This represents a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now directly owns 30,658 shares in the company, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,695 shares of company stock valued at $1,444,356 over the last quarter. Company insiders own 17.60% of the company’s stock.

Institutional Trading of Incyte

Large investors have recently bought and sold shares of the company. Quintet Private Bank Europe S.A. acquired a new stake in Incyte in the fourth quarter valued at $26,000. Global X Japan Co. Ltd. boosted its stake in shares of Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 230 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Incyte during the fourth quarter valued at $30,000. Brooklyn Investment Group acquired a new stake in shares of Incyte during the third quarter valued at $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Incyte during the third quarter valued at $33,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

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.