Incyte’s (INCY) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Incyte (NASDAQ:INCY) in a report released on Monday morning,Benzinga reports. HC Wainwright currently has a $135.00 price objective on the biopharmaceutical company’s stock.

A number of other research analysts also recently commented on the stock. Stifel Nicolaus increased their target price on shares of Incyte from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Wells Fargo & Company reduced their price target on shares of Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. TD Cowen restated a “buy” rating on shares of Incyte in a research note on Tuesday, January 13th. Royal Bank Of Canada reduced their target price on Incyte from $95.00 to $92.00 and set a “sector perform” rating for the company in a report on Wednesday, February 11th. Finally, Wall Street Zen cut Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Incyte presently has a consensus rating of “Hold” and an average target price of $104.00.

Incyte Stock Performance

NASDAQ:INCY opened at $94.66 on Monday. The business’s fifty day moving average price is $102.10 and its 200 day moving average price is $96.45. The firm has a market capitalization of $18.84 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.76 and a beta of 0.84. Incyte has a 12 month low of $53.56 and a 12 month high of $112.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Incyte had a net margin of 25.03% and a return on equity of 26.34%. The company’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 EPS. On average, sell-side analysts anticipate that Incyte will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 2,774 shares of Incyte stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $100.00, for a total value of $277,400.00. Following the transaction, the insider directly owned 22,973 shares in the company, valued at approximately $2,297,300. This trade represents a 10.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael James Morrissey sold 54,008 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $97.29, for a total value of $5,254,438.32. Following the completion of the transaction, the executive vice president directly owned 31,830 shares in the company, valued at approximately $3,096,740.70. The trade was a 62.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 72,561 shares of company stock worth $7,195,307. 17.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Elyxium Wealth LLC purchased a new stake in Incyte in the 4th quarter valued at approximately $28,000. Smithfield Trust Co boosted its stake in shares of Incyte by 135.0% in the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 162 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Incyte during the third quarter worth $26,000. Root Financial Partners LLC acquired a new position in Incyte during the third quarter worth $28,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Incyte in the fourth quarter valued at $35,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

About Incyte

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.