Wall Street Zen Downgrades Incyte (NASDAQ:INCY) to Hold

Incyte (NASDAQ:INCY) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other brokerages also recently issued reports on INCY. Barclays boosted their price target on shares of Incyte from $134.00 to $139.00 and gave the stock an “overweight” rating in a research report on Wednesday. HC Wainwright increased their price objective on shares of Incyte from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Sanford C. Bernstein assumed coverage on shares of Incyte in a research note on Thursday, May 21st. They set a “market perform” rating and a $99.00 target price for the company. Stifel Nicolaus set a $145.00 target price on shares of Incyte in a report on Tuesday, July 28th. Finally, Royal Bank Of Canada upped their price target on shares of Incyte from $99.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $117.74.

Incyte Price Performance

Incyte stock opened at $119.52 on Friday. The stock’s 50 day moving average is $109.54 and its 200 day moving average is $102.21. The firm has a market cap of $24.23 billion, a P/E ratio of 15.23, a P/E/G ratio of 3.96 and a beta of 0.76. Incyte has a one year low of $73.81 and a one year high of $132.60.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.15 by $0.94. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Incyte had a return on equity of 29.93% and a net margin of 27.71%.The firm’s revenue was up 37.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.57 earnings per share. Equities analysts anticipate that Incyte will post 2.5 earnings per share for the current fiscal year.

Institutional Trading of Incyte

Hedge funds have recently modified their holdings of the stock. Toth Financial Advisory Corp bought a new stake in Incyte in the 4th quarter valued at about $1,213,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Incyte by 11.5% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 210,097 shares of the biopharmaceutical company’s stock worth $20,719,000 after acquiring an additional 21,735 shares in the last quarter. Twin Capital Management Inc. bought a new position in Incyte in the first quarter worth approximately $875,000. Northwestern Mutual Wealth Management Co. grew its stake in Incyte by 5,218.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 596,840 shares of the biopharmaceutical company’s stock valued at $58,950,000 after acquiring an additional 585,618 shares during the period. Finally, Sector Gamma AS grew its stake in Incyte by 6.7% in the fourth quarter. Sector Gamma AS now owns 218,783 shares of the biopharmaceutical company’s stock valued at $21,609,000 after acquiring an additional 13,669 shares during the period. Institutional investors own 96.97% of the company’s stock.

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.