BidaskClub downgraded shares of Incyte (NASDAQ:INCY) from a buy rating to a hold rating in a report published on Thursday, BidAskClub reports.

INCY has been the subject of several other reports. Royal Bank of Canada cut shares of Incyte from an outperform rating to a sector perform rating and set a $89.00 price objective for the company. in a research report on Wednesday, April 3rd. They noted that the move was a valuation call. Barclays lowered shares of Incyte from an overweight rating to an equal weight rating and cut their price objective for the company from $90.00 to $82.00 in a research report on Friday, May 3rd. Argus boosted their price objective on shares of Incyte from $83.00 to $98.00 and gave the company a buy rating in a research report on Monday, February 25th. Oppenheimer set a $85.00 price objective on shares of Incyte and gave the company a hold rating in a research report on Sunday, April 7th. Finally, Zacks Investment Research raised shares of Incyte from a hold rating to a buy rating and set a $83.00 price objective for the company in a research report on Thursday, April 18th. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $88.00.

INCY stock traded up $0.72 during midday trading on Thursday, hitting $77.09. The company’s stock had a trading volume of 6,128 shares, compared to its average volume of 1,076,269. The company has a quick ratio of 5.21, a current ratio of 5.22 and a debt-to-equity ratio of 0.01. Incyte has a 52-week low of $57.00 and a 52-week high of $88.83. The stock has a market capitalization of $16.38 billion, a PE ratio of 92.51 and a beta of 1.20.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.29. The company had revenue of $497.86 million during the quarter, compared to analysts’ expectations of $488.00 million. Incyte had a net margin of 12.66% and a return on equity of 13.28%. The firm’s revenue was up 30.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.01) EPS. Analysts expect that Incyte will post 1.78 EPS for the current fiscal year.

In other news, EVP Paula J. Swain sold 10,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $87.01, for a total value of $870,100.00. Following the completion of the sale, the executive vice president now owns 38,295 shares of the company’s stock, valued at $3,332,047.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 17.10% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Cresset Asset Management LLC purchased a new position in shares of Incyte in the first quarter valued at $32,000. Bremer Bank National Association purchased a new position in shares of Incyte in the first quarter valued at $31,000. CX Institutional boosted its stake in shares of Incyte by 1,496.7% in the first quarter. CX Institutional now owns 479 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 449 shares during the period. Financial Gravity Wealth Inc. purchased a new position in shares of Incyte in the first quarter valued at $51,000. Finally, Bremer Trust National Association purchased a new position in shares of Incyte in the fourth quarter valued at $42,000. Institutional investors and hedge funds own 91.17% of the company’s stock.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Featured Story: What is Call Option Volume?

Analyst Recommendations for Incyte (NASDAQ:INCY)

Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.