Incyte (NASDAQ:INCY) PT Raised to $92.00

Incyte (NASDAQ:INCY) had its target price lifted by equities researchers at Guggenheim from $86.00 to $92.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Guggenheim’s price objective would indicate a potential upside of 38.49% from the company’s current price.

INCY has been the topic of a number of other research reports. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. JPMorgan Chase & Co. boosted their price target on shares of Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. BMO Capital Markets reissued an “underperform” rating and set a $48.00 target price (down from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd. Finally, Bank of America raised their target price on Incyte from $66.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday. 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $73.76.

Incyte Stock Up 0.0 %

INCY stock opened at $66.43 on Monday. The stock has a market cap of $14.92 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 5.03 and a beta of 0.73. The firm’s 50-day simple moving average is $64.14 and its 200 day simple moving average is $59.66. Incyte has a fifty-two week low of $50.27 and a fifty-two week high of $70.36. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts predict that Incyte will post 0.67 EPS for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of Incyte stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the transaction, the executive vice president now owns 36,701 shares of the company’s stock, valued at $2,569,070. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vijay K. Iyengar sold 15,571 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the transaction, the executive vice president now directly owns 36,701 shares in the company, valued at approximately $2,569,070. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,047 shares of company stock valued at $2,225,626. Company insiders own 17.50% of the company’s stock.

Institutional Trading of Incyte

Hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new position in shares of Incyte in the second quarter valued at approximately $2,738,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Incyte by 2,486.8% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 394,646 shares of the biopharmaceutical company’s stock worth $23,923,000 after buying an additional 379,390 shares in the last quarter. Delphi Management Inc. MA acquired a new position in shares of Incyte in the second quarter valued at about $73,000. Advisory Alpha LLC grew its stake in shares of Incyte by 18.9% in the second quarter. Advisory Alpha LLC now owns 6,678 shares of the biopharmaceutical company’s stock valued at $405,000 after acquiring an additional 1,062 shares in the last quarter. Finally, Truist Financial Corp bought a new position in Incyte during the second quarter worth about $1,122,000. Institutional investors and hedge funds 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.