Incyte (NASDAQ:INCY) PT Raised to $65.00

Incyte (NASDAQ:INCY) had its target price hoisted by JPMorgan Chase & Co. from $61.00 to $65.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

INCY has been the topic of a number of other research reports. Bank of America boosted their price objective on shares of Incyte from $66.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Truist Financial reiterated a “hold” rating and set a $74.00 price target (down from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Wells Fargo & Company decreased their price objective on shares of Incyte from $63.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their target price on Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Citigroup raised their price target on Incyte from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Incyte has an average rating of “Hold” and an average price target of $73.42.

Incyte Stock Down 0.3 %

Shares of NASDAQ:INCY opened at $65.07 on Wednesday. The company has a market cap of $12.53 billion, a price-to-earnings ratio of 180.75, a PEG ratio of 5.31 and a beta of 0.73. Incyte has a 12 month low of $50.27 and a 12 month high of $70.36. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $65.09 and a 200 day moving average price of $61.14.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. Incyte’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 earnings per share. As a group, equities research analysts predict that Incyte will post 0.66 earnings per share for the current year.

Insider Activity

In other news, insider Thomas Tray sold 572 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the transaction, the executive vice president now directly owns 36,390 shares in the company, valued at approximately $2,269,280.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas Tray sold 572 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the sale, the insider now directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of INCY. Wellington Management Group LLP boosted its stake in Incyte by 48.8% in the fourth quarter. Wellington Management Group LLP now owns 131,649 shares of the biopharmaceutical company’s stock valued at $8,266,000 after acquiring an additional 43,160 shares in the last quarter. FORVIS Wealth Advisors LLC purchased a new stake in shares of Incyte during the 1st quarter valued at $1,495,000. ProShare Advisors LLC lifted its holdings in shares of Incyte by 14.4% during the 1st quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company’s stock valued at $3,594,000 after purchasing an additional 7,925 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in shares of Incyte in the 1st quarter worth $463,000. Finally, Diversified Trust Co grew its stake in Incyte by 123.7% during the 1st quarter. Diversified Trust Co now owns 36,062 shares of the biopharmaceutical company’s stock worth $2,054,000 after buying an additional 19,944 shares during the last quarter. 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.