Incyte (NASDAQ:INCY) Receives Outperform Rating from William Blair

William Blair reaffirmed their outperform rating on shares of Incyte (NASDAQ:INCY) in a research note issued to investors on Friday,RTT News reports.

A number of other brokerages have also weighed in on INCY. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Tuesday, November 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 report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their target price on Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer boosted their price target on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $76.13.

Incyte Stock Down 3.2 %

NASDAQ INCY opened at $68.55 on Friday. 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 12 month low of $50.35 and a 12 month high of $83.95. The stock’s 50 day moving average is $72.14 and its 200 day moving average is $66.31. The stock has a market cap of $13.21 billion, a PE ratio of 489.64, a P/E/G ratio of 8.36 and a beta of 0.69.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Incyte’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 EPS. Research analysts predict that Incyte will post 0.4 EPS for the current fiscal year.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares of the company’s stock, valued at $4,624,786.56. This represents a 5.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction on Friday, November 29th. The stock was 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 owns 30,658 shares in the company, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their position. The disclosure for this sale can be found here. 17.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Incyte

Large investors have recently added to or reduced their stakes in the stock. MFA Wealth Advisors LLC purchased a new stake in Incyte in the second quarter worth about $26,000. Brooklyn Investment Group bought a new position in shares of Incyte during the third quarter valued at approximately $30,000. Innealta Capital LLC purchased a new position in Incyte during the second quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Incyte in the third quarter worth approximately $33,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Incyte during the second quarter worth $36,000. 96.97% of the stock is owned by hedge funds and other 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.