Incyte (NASDAQ:INCY) Upgraded at TheStreet

Incyte (NASDAQ:INCY – Get Rating) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b” rating in a research note issued on Monday, TheStreetRatingsTable reports.

A number of other analysts have also issued reports on the company. Zacks Investment Research raised Incyte from a “sell” rating to a “hold” rating and set a $85.00 price target on the stock in a research note on Tuesday, April 5th. SVB Leerink lowered Incyte from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $60.00 to $56.00 in a research note on Wednesday, February 9th. Royal Bank of Canada raised Incyte from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $78.00 to $90.00 in a research note on Tuesday, January 18th. Guggenheim lowered their price objective on Incyte from $118.00 to $104.00 in a research note on Monday, January 3rd. Finally, Morgan Stanley decreased their price target on Incyte from $77.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $87.82.

Shares of NASDAQ:INCY opened at $79.47 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.65 and a quick ratio of 3.62. The business’s 50 day moving average price is $74.51 and its 200-day moving average price is $71.12. The firm has a market capitalization of $17.59 billion, a PE ratio of 18.61, a P/E/G ratio of 0.90 and a beta of 0.73. Incyte has a 1 year low of $61.91 and a 1 year high of $88.26.

Incyte (NASDAQ:INCY – Get Rating) last issued its quarterly earnings results on Tuesday, February 8th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.72). The firm had revenue of $862.50 million during the quarter, compared to analyst estimates of $813.38 million. Incyte had a return on equity of 14.66% and a net margin of 31.76%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 earnings per share. As a group, analysts expect that Incyte will post 2.52 earnings per share for the current year.

In other news, EVP Jonathan Elliott Dickinson sold 7,375 shares of the company’s stock in a transaction dated Monday, January 31st. The stock was sold at an average price of $74.19, for a total transaction of $547,151.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Barry P. Flannelly sold 43,993 shares of the company’s stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $83.49, for a total value of $3,672,975.57. Following the completion of the sale, the executive vice president now directly owns 65,163 shares of the company’s stock, valued at $5,440,458.87. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 711,335 shares of company stock valued at $49,689,821. Insiders own 15.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in INCY. National Bank of Canada FI acquired a new stake in Incyte during the 4th quarter worth approximately $44,000. Illinois Municipal Retirement Fund lifted its position in Incyte by 30.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 21,033 shares of the biopharmaceutical company’s stock worth $1,544,000 after acquiring an additional 4,961 shares during the period. Frontier Capital Management Co. LLC acquired a new stake in Incyte during the 4th quarter worth approximately $5,774,000. QCI Asset Management Inc. NY lifted its position in Incyte by 5.0% during the 3rd quarter. QCI Asset Management Inc. NY now owns 251,161 shares of the biopharmaceutical company’s stock worth $17,275,000 after acquiring an additional 11,980 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in Incyte by 28.2% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 165,298 shares of the biopharmaceutical company’s stock worth $12,215,000 after acquiring an additional 36,381 shares during the period. 91.33% of the stock is owned by hedge funds and other institutional investors.

Incyte Company Profile (Get Rating)

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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