Incyte (NASDAQ:INCY) Earns “Market Perform” Rating from JMP Securities

JMP Securities reissued their market perform rating on shares of Incyte (NASDAQ:INCY) in a report issued on Tuesday morning, Benzinga reports.

A number of other brokerages have also weighed in on INCY. William Blair restated an outperform rating on shares of Incyte in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Incyte from $55.00 to $60.00 and gave the company a hold rating in a research report on Thursday, August 1st. Oppenheimer dropped their price target on Incyte from $84.00 to $81.00 and set an outperform rating for the company in a research report on Friday, July 26th. Guggenheim lifted their price target on Incyte from $86.00 to $92.00 and gave the stock a buy rating in a research report on Monday, September 16th. Finally, Cantor Fitzgerald reiterated a neutral rating on shares of Incyte in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $73.24.

Incyte Trading Down 1.6 %

Shares of Incyte stock opened at $65.74 on Tuesday. The firm has a market cap of $14.76 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 5.03 and a beta of 0.73. The business has a 50-day moving average price of $64.37 and a 200-day moving average price of $59.79. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01. Incyte has a twelve month low of $50.27 and a twelve month high of $70.36.

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

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 8,148 shares of Incyte stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total transaction of $488,880.00. Following the completion of the sale, the executive vice president now owns 50,534 shares of the company’s stock, valued at $3,032,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Barry P. Flannelly sold 8,148 shares of Incyte stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total transaction of $488,880.00. Following the completion of the sale, the executive vice president now owns 50,534 shares of the company’s stock, valued at $3,032,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 1,306 shares of Incyte stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total transaction of $83,832.14. Following the sale, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at approximately $3,725,715.98. The disclosure for this sale can be found here. Insiders sold 34,047 shares of company stock worth $2,225,626 over the last 90 days. Company insiders own 17.50% of the company’s stock.

Institutional Trading of Incyte

Institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new position in Incyte in the second quarter worth approximately $2,738,000. Teachers Retirement System of The State of Kentucky raised its stake in Incyte by 2,486.8% in 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 buying an additional 379,390 shares in the last quarter. Delphi Management Inc. MA bought a new position in Incyte in the second quarter worth approximately $73,000. Advisory Alpha LLC raised its stake in Incyte by 18.9% in the second quarter. Advisory Alpha LLC now owns 6,678 shares of the biopharmaceutical company’s stock worth $405,000 after buying an additional 1,062 shares in the last quarter. Finally, Truist Financial Corp bought a new position in Incyte in the second quarter worth approximately $1,122,000. Institutional investors own 96.97% of the company’s stock.

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.