Incyte (NASDAQ:INCY) Upgraded to “B” by TheStreet

TheStreet upgraded shares of Incyte (NASDAQ:INCYGet Rating) from a c+ rating to a b rating in a report issued on Monday morning, TheStreetRatingsTable reports.

A number of other brokerages have also issued reports on INCY. Zacks Investment Research raised Incyte from a sell rating to a hold rating and set a $85.00 target price on the stock in a research report on Tuesday, April 5th. Guggenheim dropped their target price on Incyte from $118.00 to $104.00 in a research report on Monday, January 3rd. SVB Leerink cut Incyte from a market perform rating to an underperform rating and decreased their price target 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 raised their target price for the company from $78.00 to $90.00 in a research note on Tuesday, January 18th. Finally, Morgan Stanley decreased their target price on Incyte from $77.00 to $76.00 and set an equal weight rating for the company in a research note on Wednesday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Buy and an average price target of $87.82.

Shares of INCY stock opened at $79.47 on Monday. Incyte has a twelve month low of $61.91 and a twelve month high of $88.26. The firm has a 50-day moving average price of $74.51 and a 200 day moving average price of $71.12. The company has a current ratio of 3.65, a quick ratio of 3.62 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $17.59 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 0.90 and a beta of 0.73.

Incyte (NASDAQ:INCYGet Rating) last issued its 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). Incyte had a return on equity of 14.66% and a net margin of 31.76%. The firm had revenue of $862.50 million for the quarter, compared to analysts’ expectations of $813.38 million. During the same quarter in the previous year, the firm posted $0.73 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, research analysts predict that Incyte will post 2.52 earnings per share for the current year.

In other Incyte news, EVP Barry P. Flannelly sold 43,993 shares of Incyte stock in a transaction on Friday, April 8th. The stock was sold at an average price of $83.49, for a total value of $3,672,975.57. Following the completion of the transaction, the executive vice president now owns 65,163 shares in the company, valued at approximately $5,440,458.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bros. Advisors Lp Baker acquired 292,972 shares of the business’s stock in a transaction on Thursday, February 17th. The stock was acquired at an average price of $67.74 per share, with a total value of $19,845,923.28. The disclosure for this purchase can be found here. In the last three months, insiders have bought 711,335 shares of company stock worth $49,689,821. 15.80% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of INCY. Morgan Stanley raised its position in Incyte by 3.5% in the 2nd quarter. Morgan Stanley now owns 606,554 shares of the biopharmaceutical company’s stock valued at $51,029,000 after purchasing an additional 20,387 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Incyte by 20.3% during the third quarter. Vontobel Holding Ltd. now owns 16,912 shares of the biopharmaceutical company’s stock worth $1,163,000 after purchasing an additional 2,850 shares during the period. Commonwealth Equity Services LLC grew its stake in Incyte by 8.4% in the third quarter. Commonwealth Equity Services LLC now owns 27,665 shares of the biopharmaceutical company’s stock valued at $1,902,000 after acquiring an additional 2,150 shares during the period. Janney Montgomery Scott LLC grew its stake in Incyte by 74.6% in the third quarter. Janney Montgomery Scott LLC now owns 4,832 shares of the biopharmaceutical company’s stock valued at $332,000 after acquiring an additional 2,065 shares during the period. Finally, Nordea Investment Management AB grew its stake in Incyte by 100.0% in the third quarter. Nordea Investment Management AB now owns 17,734 shares of the biopharmaceutical company’s stock valued at $1,232,000 after acquiring an additional 8,867 shares during the period. Hedge funds and other institutional investors own 91.33% of the company’s stock.

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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