Incyte’s (INCY) “Outperform” Rating Reiterated at William Blair

William Blair reaffirmed their outperform rating on shares of Incyte (NASDAQ:INCY) in a research report report published on Friday,RTT News reports.

Several other equities research analysts have also recently weighed in on INCY. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. StockNews.com raised Incyte from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 28th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Tuesday, November 19th. Royal Bank of Canada raised their target price on shares of Incyte from $72.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 14th. Finally, 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 note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Incyte presently has a consensus rating of “Hold” and a consensus price target of $76.13.

Incyte Stock Performance

NASDAQ INCY opened at $68.55 on Friday. The company has a 50-day simple moving average of $72.14 and a two-hundred day simple moving average of $66.31. Incyte has a 12-month low of $50.35 and a 12-month high of $83.95. The firm has a market cap of $13.21 billion, a price-to-earnings ratio of 489.64, a PEG ratio of 8.36 and a beta of 0.69. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 earnings per share. On average, equities analysts forecast that Incyte will post 0.4 EPS for the current year.

Insider Buying and Selling

In related news, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of INCY. Cetera Advisors LLC bought a new position in shares of Incyte in the 1st quarter worth approximately $241,000. Sequoia Financial Advisors LLC raised its position in Incyte by 6.9% in the second quarter. Sequoia Financial Advisors LLC now owns 4,432 shares of the biopharmaceutical company’s stock worth $269,000 after acquiring an additional 287 shares during the period. Raymond James & Associates boosted its stake in shares of Incyte by 783.4% during the 2nd quarter. Raymond James & Associates now owns 34,790 shares of the biopharmaceutical company’s stock worth $2,109,000 after acquiring an additional 30,852 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Incyte by 4.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 25,213 shares of the biopharmaceutical company’s stock valued at $1,528,000 after acquiring an additional 997 shares during the period. Finally, Continuum Advisory LLC increased its stake in shares of Incyte by 3.2% in the 2nd quarter. Continuum Advisory LLC now owns 54,090 shares of the biopharmaceutical company’s stock worth $3,279,000 after purchasing an additional 1,662 shares in the last quarter. 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.