Incyte (NASDAQ:INCY) Rating Lowered to “Market Perform” at William Blair

Incyte (NASDAQ:INCY) was downgraded by William Blair from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, Marketbeat.com reports. William Blair also issued estimates for Incyte’s FY2025 earnings at $4.21 EPS.

Several other brokerages have also recently issued reports on INCY. Wells Fargo & Company boosted their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Stifel Nicolaus upped their price target on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. UBS Group started coverage on shares of Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $75.13.

Incyte Stock Up 0.6 %

Shares of NASDAQ INCY opened at $60.34 on Tuesday. Incyte has a 52-week low of $50.35 and a 52-week high of $83.95. The firm has a fifty day moving average of $71.03 and a 200-day moving average of $70.20. The stock has a market capitalization of $11.68 billion, a PE ratio of 223.49, a P/E/G ratio of 0.41 and a beta of 0.76. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. On average, analysts anticipate that Incyte will post 4.86 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Sheila A. Denton sold 14,069 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the sale, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,914,561.36. This represents a 35.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the sale, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,827 shares of company stock worth $3,322,618 in the last quarter. 17.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Incyte

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Incyte by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company’s stock valued at $278,346,000 after purchasing an additional 103,910 shares in the last quarter. AQR Capital Management LLC raised its stake in Incyte by 29.7% during the fourth quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company’s stock worth $241,519,000 after acquiring an additional 801,090 shares during the period. LSV Asset Management raised its stake in Incyte by 18.6% during the fourth quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company’s stock worth $239,500,000 after acquiring an additional 544,080 shares during the period. Point72 Asset Management L.P. acquired a new stake in Incyte during the third quarter worth about $156,611,000. Finally, Bellevue Group AG raised its stake in Incyte by 0.3% during the fourth quarter. Bellevue Group AG now owns 2,157,478 shares of the biopharmaceutical company’s stock worth $149,017,000 after acquiring an additional 6,927 shares during the period. Institutional investors and hedge funds 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.