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

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

Several other brokerages have also issued reports on INCY. JPMorgan Chase & Co. boosted their price target on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada dropped their target price on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Wells Fargo & Company raised their price target on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Citigroup dropped their price objective on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, StockNews.com upgraded Incyte from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $75.59.

Incyte Trading Up 4.1 %

NASDAQ:INCY opened at $69.05 on Tuesday. Incyte has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The firm’s fifty day moving average is $71.58 and its 200-day moving average is $69.16. The firm has a market cap of $13.30 billion, a P/E ratio of 493.25, a P/E/G ratio of 0.53 and a beta of 0.70.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results 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 negative return on equity of 0.63% and a net margin of 0.80%. Equities analysts expect that Incyte will post 0.35 earnings per share for the current year.

Insider Activity

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the transaction, the insider now directly owns 23,962 shares in the company, valued at approximately $1,692,675.68. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,695 shares of company stock worth $1,444,356 over the last quarter. Insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Incyte

Large investors have recently made changes to their positions in the business. Quintet Private Bank Europe S.A. purchased a new stake in shares of Incyte during the 4th quarter worth approximately $26,000. Global X Japan Co. Ltd. increased its position in Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Incyte in the third quarter valued at $30,000. R Squared Ltd purchased a new position in shares of Incyte during the 4th quarter valued at $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Incyte during the 3rd quarter valued at $33,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

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.