Incyte (NASDAQ:INCY) Raised to “Strong-Buy” at Wall Street Zen

Incyte (NASDAQ:INCY) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

INCY has been the topic of several other reports. Zacks Research raised Incyte from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Royal Bank Of Canada upped their price objective on Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a research report on Wednesday. Bank of America upped their price objective on Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Barclays increased their price objective on shares of Incyte from $90.00 to $101.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Oppenheimer downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Incyte has a consensus rating of “Hold” and an average target price of $89.25.

Incyte Stock Performance

INCY stock opened at $93.48 on Friday. The stock has a market capitalization of $18.25 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 0.70 and a beta of 0.73. Incyte has a 12-month low of $53.56 and a 12-month high of $95.10. The company has a current ratio of 3.20, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $86.30 and its 200 day simple moving average is $74.74.

Institutional Trading of Incyte

Institutional investors and hedge funds have recently modified their holdings of the company. Banque Transatlantique SA purchased a new position in Incyte during the first quarter valued at $26,000. Harbor Capital Advisors Inc. purchased a new position in Incyte during the third quarter valued at $26,000. FNY Investment Advisers LLC purchased a new position in Incyte during the second quarter valued at $27,000. Root Financial Partners LLC purchased a new position in Incyte during the third quarter valued at $28,000. Finally, Quent Capital LLC purchased a new position in Incyte during the third quarter valued at $30,000. 96.97% of the stock is currently owned by institutional investors.

Incyte Company Profile

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.