William Blair Reiterates “Outperform” Rating for Incyte (NASDAQ:INCY)

Incyte (NASDAQ:INCY)‘s stock had its “outperform” rating restated by stock analysts at William Blair in a research report issued to clients and investors on Monday, RTT News reports.

Other research analysts have also issued reports about the stock. BMO Capital Markets restated an “underperform” rating and issued a $48.00 price objective (down from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Citigroup upped their target price on shares of Incyte from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Incyte presently has a consensus rating of “Hold” and an average target price of $73.29.

Incyte Trading Up 1.4 %

NASDAQ:INCY opened at $63.13 on Monday. The company has a fifty day moving average of $63.52 and a 200 day moving average of $59.49. Incyte has a 52 week low of $50.27 and a 52 week high of $70.36. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $14.18 billion, a P/E ratio of 19.13, a P/E/G ratio of 4.88 and a beta of 0.73.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company posted $0.77 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts predict that Incyte will post 0.67 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other Incyte 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 transaction, the executive vice president now owns 50,534 shares of the company’s stock, valued at $3,032,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Vijay K. Iyengar sold 15,571 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the transaction, the executive vice president now directly owns 36,701 shares of the company’s stock, valued at $2,569,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 8,148 shares of the stock in a transaction 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 transaction, the executive vice president now owns 50,534 shares of the company’s stock, valued at approximately $3,032,040. The disclosure for this sale can be found here. Insiders have sold 25,025 shares of company stock valued at $1,662,682 over the last 90 days. 17.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Incyte

Several institutional investors have recently bought and sold shares of the business. Cape Investment Advisory Inc. purchased a new stake in Incyte in the fourth quarter worth $25,000. MFA Wealth Advisors LLC bought a new position in shares of Incyte during the 2nd quarter worth $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Incyte during the 1st quarter worth $28,000. Riverview Trust Co bought a new position in shares of Incyte during the 1st quarter worth $29,000. Finally, Fidelis Capital Partners LLC bought a new position in shares of Incyte during the 1st quarter worth $32,000. 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.