Incyte (NASDAQ:INCY) Stock Rating Upgraded by StockNews.com

Incyte (NASDAQ:INCY) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

Several other analysts have also commented on INCY. William Blair reissued an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and increased their target price for the company from $68.00 to $90.00 in a research report on Tuesday, October 29th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, January 14th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Finally, Wells Fargo & Company raised their price objective on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $75.71.

Incyte Trading Up 1.5 %

INCY opened at $75.26 on Tuesday. Incyte has a 12 month low of $50.35 and a 12 month high of $83.95. The stock has a fifty day moving average price of $71.82 and a 200-day moving average price of $68.99. The firm has a market cap of $14.50 billion, a price-to-earnings ratio of 537.61, a PEG ratio of 0.54 and a beta of 0.70. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Insider Activity at Incyte

In other news, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the completion of the transaction, the executive vice president now owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,695 shares of company stock worth $1,444,356 over the last three months. Company insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. grew its position in shares of Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 230 shares during the period. R Squared Ltd acquired a new stake in Incyte in the fourth quarter valued at approximately $30,000. Brooklyn Investment Group purchased a new stake in shares of Incyte in the third quarter valued at approximately $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Incyte during the 3rd quarter worth approximately $33,000. Finally, Cromwell Holdings LLC lifted its position in shares of Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

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.