Stifel Nicolaus Boosts Incyte (NASDAQ:INCY) Price Target to $77.00

Incyte (NASDAQ:INCY) had its price target boosted by Stifel Nicolaus from $75.00 to $77.00 in a research note released on Monday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the biopharmaceutical company’s stock.

INCY has been the topic of several other reports. Morgan Stanley lifted their target price on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. JPMorgan Chase & Co. lifted their target price on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. UBS Group assumed coverage on shares of Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price on the stock. Finally, BMO Capital Markets reiterated an “underperform” rating and set a $52.00 target price (up from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.59.

Incyte Stock Performance

NASDAQ INCY opened at $69.05 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The firm has a market capitalization of $13.30 billion, a price-to-earnings ratio of 493.25, a P/E/G ratio of 0.53 and a beta of 0.70. The company’s fifty day moving average is $71.58 and its two-hundred day moving average is $69.16. Incyte has a 52-week low of $50.35 and a 52-week high of $83.95.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results 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 negative return on equity of 0.63% and a net margin of 0.80%. Equities research analysts forecast that Incyte will post 0.35 EPS for the current year.

Insiders Place Their Bets

In related news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the sale, the insider now directly owns 23,312 shares of the company’s stock, valued at $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,695 shares of company stock valued at $1,444,356. Insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quintet Private Bank Europe S.A. acquired a new position in Incyte during the fourth quarter worth $26,000. Global X Japan Co. Ltd. raised its position in Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares in the last quarter. R Squared Ltd bought a new stake in Incyte during the fourth quarter worth $30,000. Brooklyn Investment Group bought a new stake in Incyte during the third quarter worth $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Incyte during the third quarter worth $33,000. 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.