Incyte (NASDAQ:INCY) Given New $110.00 Price Target at JPMorgan Chase & Co.

Incyte (NASDAQ:INCY) had its price target lifted by JPMorgan Chase & Co. from $105.00 to $110.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently issued reports on INCY. Citigroup restated a “market perform” rating on shares of Incyte in a report on Wednesday, July 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Incyte in a research report on Monday, June 29th. Truist Financial lifted their price objective on shares of Incyte from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. TD Cowen restated a “hold” rating on shares of Incyte in a report on Tuesday, June 9th. Finally, Stifel Nicolaus set a $123.00 price objective on shares of Incyte in a report on Tuesday, June 9th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $111.10.

Incyte Stock Performance

INCY stock opened at $116.69 on Thursday. Incyte has a twelve month low of $69.69 and a twelve month high of $119.60. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. The company has a market cap of $23.31 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 1.05 and a beta of 0.76. The business’s fifty day moving average is $106.38 and its 200-day moving average is $101.52.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.43. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 earnings per share. Equities research analysts forecast that Incyte will post 6.61 EPS for the current year.

Institutional Investors Weigh In On Incyte

Several large investors have recently modified their holdings of INCY. Elyxium Wealth LLC acquired a new position in shares of Incyte in the 4th quarter valued at approximately $28,000. Smithfield Trust Co raised its holdings in Incyte by 135.0% during the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 162 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in Incyte in the fourth quarter valued at approximately $35,000. Atlas Capital Advisors Inc. bought a new position in Incyte in the fourth quarter valued at approximately $35,000. Finally, Leonteq Securities AG bought a new position in Incyte in the fourth quarter valued at approximately $35,000. 96.97% of the stock is currently owned by institutional investors.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.