Weekly Investment Analysts’ Ratings Changes for Incyte (INCY)

Incyte (NASDAQ: INCY) recently received a number of ratings updates from brokerages and research firms:

• 9/18/2024 – Incyte had its “hold” rating reaffirmed by analysts at Truist Financial Co.. They now have a $74.00 price target on the stock, down previously from $83.00.
• 9/17/2024 – Incyte had its “market perform” rating reaffirmed by analysts at JMP Securities.
• 9/16/2024 – Incyte had its price target raised by analysts at Bank of America Co. from $66.00 to $68.00. They now have a “neutral” rating on the stock.
• 9/16/2024 – Incyte had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald.
• 9/16/2024 – Incyte had its price target raised by analysts at Guggenheim from $86.00 to $92.00. They now have a “buy” rating on the stock.
• 9/9/2024 – Incyte had its “outperform” rating reaffirmed by analysts at William Blair.
• 9/9/2024 – Incyte had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald.
• 9/3/2024 – Incyte had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $67.00 price target on the stock.
• 8/15/2024 – Incyte had its price target raised by analysts at Royal Bank of Canada from $66.00 to $67.00. They now have a “sector perform” rating on the stock.
• 8/1/2024 – Incyte had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $55.00 to $60.00. They now have a “hold” rating on the stock.
• 7/31/2024 – Incyte had its price target raised by analysts at Royal Bank of Canada from $61.00 to $66.00. They now have a “sector perform” rating on the stock.
• 7/31/2024 – Incyte had its price target raised by analysts at JPMorgan Chase & Co. from $59.00 to $61.00. They now have a “neutral” rating on the stock.
• 7/31/2024 – Incyte had its price target raised by analysts at Bank of America Co. from $62.00 to $66.00. They now have a “neutral” rating on the stock.
• 7/31/2024 – Incyte had its price target raised by analysts at Citigroup Inc. from $80.00 to $88.00. They now have a “buy” rating on the stock.
• 7/26/2024 – Incyte had its price target lowered by analysts at Oppenheimer Holdings Inc. from $84.00 to $81.00. They now have an “outperform” rating on the stock.

Incyte Stock Performance

Shares of INCY stock traded down $0.83 during trading on Tuesday, hitting $63.29. The company’s stock had a trading volume of 440,041 shares, compared to its average volume of 2,447,099. The business has a fifty day moving average of $64.36 and a 200-day moving average of $59.84. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. Incyte Co. has a 52 week low of $50.27 and a 52 week high of $70.36. The company has a market cap of $14.21 billion, a PE ratio of 19.18, a P/E/G ratio of 5.03 and a beta of 0.73.

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

Insider Activity at Incyte

In related news, EVP Barry P. Flannelly sold 1,306 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total transaction of $83,832.14. Following the transaction, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at approximately $3,725,715.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Incyte news, EVP Barry P. Flannelly sold 1,306 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total transaction of $83,832.14. Following the completion of the sale, the executive vice president now directly owns 58,042 shares in the company, valued at $3,725,715.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Barry P. Flannelly sold 8,148 shares of Incyte stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total value of $488,880.00. Following the completion of the transaction, the executive vice president now owns 50,534 shares in the company, valued at approximately $3,032,040. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,047 shares of company stock valued at $2,225,626. Corporate insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Incyte

Hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in shares of Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after acquiring an additional 2,676,851 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Incyte by 70.5% in the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after buying an additional 1,101,041 shares in the last quarter. KBC Group NV grew its holdings in shares of Incyte by 842.2% during the fourth quarter. KBC Group NV now owns 955,749 shares of the biopharmaceutical company’s stock valued at $60,011,000 after buying an additional 854,311 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Incyte by 28.0% during the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock valued at $215,833,000 after acquiring an additional 779,243 shares in the last quarter. Finally, Swedbank AB bought a new position in Incyte in the 1st quarter valued at approximately $37,440,000. 96.97% of the stock is currently owned by institutional investors.

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.