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

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

INCY has been the topic of several other reports. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. UBS Group initiated coverage on Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective on the stock. Stifel Nicolaus raised their price objective on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday. Wells Fargo & Company boosted their target price on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised their price target on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Incyte currently has an average rating of “Hold” and an average target price of $75.59.

Incyte Stock Up 4.1 %

Shares of INCY stock opened at $69.05 on Tuesday. The firm’s fifty day moving average price is $71.58 and its two-hundred day moving average price is $69.16. 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 1 year low of $50.35 and a 1 year high of $83.95. The firm has a market capitalization of $13.30 billion, a P/E ratio of 493.25, a PEG ratio of 0.53 and a beta of 0.70.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing the consensus estimate 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, equities analysts predict that Incyte will post 0.35 EPS for the current fiscal year.

Insider Activity at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the transaction, the executive vice president now directly owns 30,658 shares in the company, valued at $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the sale, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,695 shares of company stock valued at $1,444,356 over the last quarter. 17.60% of the stock is owned by corporate insiders.

Institutional Trading of Incyte

Several institutional investors and hedge funds have recently modified their holdings of the business. Quintet Private Bank Europe S.A. acquired a new stake in Incyte in the fourth quarter valued at approximately $26,000. Global X Japan Co. Ltd. lifted its stake in shares of Incyte by 144.7% in the 4th 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. Brooklyn Investment Group acquired a new stake in shares of Incyte during the 3rd quarter valued at $30,000. R Squared Ltd bought a new stake in Incyte during the 4th quarter worth $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Incyte in the 3rd quarter worth about $33,000. 96.97% of the stock is currently 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.