Evercore ISI Lowers Incyte (NASDAQ:INCY) to Inline

Evercore ISI lowered shares of Incyte (NASDAQ:INCYGet Rating) from an outperform rating to an inline rating in a report released on Wednesday, Marketbeat Ratings reports. They currently have $78.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $90.00.

Several other research firms also recently commented on INCY. Wells Fargo & Company began coverage on Incyte in a report on Thursday, July 28th. They issued an equal weight rating and a $76.00 price objective for the company. StockNews.com lowered shares of Incyte from a strong-buy rating to a buy rating in a research note on Saturday, May 14th. Guggenheim downgraded shares of Incyte from a buy rating to a neutral rating in a research note on Wednesday. Morgan Stanley lifted their price target on Incyte from $73.00 to $76.00 and gave the stock an equal weight rating in a report on Wednesday, April 20th. Finally, Stifel Nicolaus raised their price objective on Incyte from $75.00 to $77.00 in a research report on Tuesday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Incyte currently has a consensus rating of Hold and a consensus target price of $84.92.

Incyte Stock Up 0.3 %

Shares of INCY stock opened at $72.16 on Wednesday. The firm’s fifty day moving average price is $76.16 and its two-hundred day moving average price is $75.21. The company has a current ratio of 3.91, a quick ratio of 3.67 and a debt-to-equity ratio of 0.01. Incyte has a 1 year low of $61.91 and a 1 year high of $84.86. The firm has a market capitalization of $16.05 billion, a P/E ratio of 16.98, a PEG ratio of 1.23 and a beta of 0.64.

Incyte (NASDAQ:INCYGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.22. Incyte had a return on equity of 13.02% and a net margin of 28.46%. The company had revenue of $911.40 million during the quarter, compared to analysts’ expectations of $818.25 million. During the same quarter last year, the company earned $0.65 EPS. Incyte’s revenue for the quarter was up 29.1% compared to the same quarter last year. On average, equities analysts predict that Incyte will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at Incyte

In related news, EVP Vijay K. Iyengar sold 5,787 shares of the business’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $79.38, for a total value of $459,372.06. Following the completion of the sale, the executive vice president now directly owns 40,313 shares of the company’s stock, valued at approximately $3,200,045.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Thomas Tray sold 1,564 shares of Incyte stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $83.13, for a total value of $130,015.32. Following the completion of the sale, the insider now owns 17,702 shares of the company’s stock, valued at approximately $1,471,567.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Vijay K. Iyengar sold 5,787 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $79.38, for a total transaction of $459,372.06. Following the transaction, the executive vice president now owns 40,313 shares in the company, valued at approximately $3,200,045.94. The disclosure for this sale can be found here. Insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Incyte

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its position in Incyte by 117.4% in the 1st quarter. Royal Bank of Canada now owns 7,682,752 shares of the biopharmaceutical company’s stock worth $610,164,000 after purchasing an additional 4,148,559 shares in the last quarter. UBS Group AG raised its stake in shares of Incyte by 204.8% during the 1st quarter. UBS Group AG now owns 2,936,589 shares of the biopharmaceutical company’s stock worth $233,224,000 after purchasing an additional 1,973,236 shares during the period. BlackRock Inc. grew its position in Incyte by 5.3% during the fourth quarter. BlackRock Inc. now owns 18,336,658 shares of the biopharmaceutical company’s stock valued at $1,345,912,000 after buying an additional 924,880 shares during the period. Los Angeles Capital Management LLC increased its holdings in Incyte by 3,061.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 795,912 shares of the biopharmaceutical company’s stock worth $58,420,000 after buying an additional 770,736 shares during the last quarter. Finally, Polar Capital Holdings Plc boosted its stake in Incyte by 100.3% in the first quarter. Polar Capital Holdings Plc now owns 1,012,386 shares of the biopharmaceutical company’s stock valued at $80,404,000 after acquiring an additional 507,000 shares during the last quarter. Institutional investors and hedge funds own 92.78% of the company’s stock.

Incyte Company Profile

(Get Rating)

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Analyst Recommendations for Incyte (NASDAQ:INCY)

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