Incyte (NASDAQ:INCY) Downgraded by Guggenheim

Incyte (NASDAQ:INCYGet Rating) was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, Marketbeat.com reports.

Several other research analysts also recently commented on INCY. Stifel Nicolaus raised their price objective on Incyte from $75.00 to $77.00 in a report on Tuesday, May 3rd. SVB Leerink raised their price objective on Incyte from $58.00 to $63.00 and gave the stock an “underperform” rating in a report on Wednesday, July 20th. TheStreet cut Incyte from a “b” rating to a “c” rating in a research report on Tuesday, May 3rd. Morgan Stanley increased their target price on Incyte from $73.00 to $76.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 20th. Finally, Wells Fargo & Company assumed coverage on Incyte in a research report on Thursday, July 28th. They set an “equal weight” rating and a $76.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.92.

Incyte Trading Down 0.9 %

Shares of NASDAQ INCY opened at $71.91 on Wednesday. The business’s 50 day moving average price is $76.26 and its 200-day moving average price is $75.23. The company has a market cap of $15.93 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 0.85 and a beta of 0.64. Incyte has a fifty-two week low of $61.91 and a fifty-two week high of $84.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.67 and a current ratio of 4.14.

Incyte (NASDAQ:INCYGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.79 by $0.22. The company had revenue of $911.40 million for the quarter, compared to the consensus estimate of $818.25 million. Incyte had a return on equity of 13.02% and a net margin of 28.46%. Incyte’s quarterly revenue was up 29.1% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. On average, sell-side analysts expect that Incyte will post 2.37 earnings per share for the current year.

Insider Transactions at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 5,787 shares of Incyte stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $79.38, for a total transaction of $459,372.06. Following the completion of the sale, the executive vice president now owns 40,313 shares of the company’s stock, valued at approximately $3,200,045.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Incyte news, insider Thomas Tray sold 1,564 shares of Incyte stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $83.13, for a total transaction of $130,015.32. Following the completion of the sale, the insider now owns 17,702 shares of the company’s stock, valued at approximately $1,471,567.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Vijay K. Iyengar sold 5,787 shares of Incyte stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $79.38, for a total value of $459,372.06. Following the sale, the executive vice president now directly owns 40,313 shares of the company’s stock, valued at approximately $3,200,045.94. The disclosure for this sale can be found here. Insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Incyte

Institutional investors have recently modified their holdings of the stock. Clear Street Markets LLC raised its stake in shares of Incyte by 410.4% during the 2nd quarter. Clear Street Markets LLC now owns 393 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 316 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Incyte by 91.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 213 shares during the last quarter. AlphaMark Advisors LLC purchased a new position in shares of Incyte during the 4th quarter valued at about $35,000. Glassman Wealth Services raised its stake in shares of Incyte by 52.1% during the 4th quarter. Glassman Wealth Services now owns 502 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 172 shares during the last quarter. Finally, CX Institutional purchased a new position in shares of Incyte during the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 92.78% 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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