JMP Securities Reaffirms Market Perform Rating for Incyte (NASDAQ:INCY)

Incyte (NASDAQ:INCY)‘s stock had its “market perform” rating restated by investment analysts at JMP Securities in a research report issued to clients and investors on Tuesday,Benzinga reports.

Other analysts also recently issued reports about the company. UBS Group started coverage on Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. Oppenheimer boosted their price objective on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup dropped their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday. Stifel Nicolaus upped their target price on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday. Finally, William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $75.59.

Incyte Stock Performance

NASDAQ INCY traded down $1.52 during trading on Tuesday, reaching $66.78. The company’s stock had a trading volume of 571,495 shares, compared to its average volume of 1,473,508. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. Incyte has a twelve month low of $50.35 and a twelve month high of $83.95. The business’s fifty day moving average price is $71.69 and its 200-day moving average price is $69.18. The firm has a market cap of $12.86 billion, a price-to-earnings ratio of 474.83, a P/E/G ratio of 0.53 and a beta of 0.70.

Incyte (NASDAQ:INCY) last announced its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share 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%. As a group, analysts anticipate that Incyte will post 0.35 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Incyte

A number of institutional investors have recently modified their holdings of INCY. Haverford Trust Co grew its stake in shares of Incyte by 1.8% in the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after buying an additional 135 shares in the last quarter. Retirement Systems of Alabama grew its holdings in Incyte by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock worth $2,391,000 after acquiring an additional 139 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in Incyte by 4.1% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $262,000 after acquiring an additional 155 shares in the last quarter. Trust Point Inc. increased its position in shares of Incyte by 5.0% in the 4th quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after purchasing an additional 156 shares during the last quarter. Finally, Mather Group LLC. lifted its position in shares of Incyte by 26.4% during the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other 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.