Incyte (INCY) Downgraded by BidaskClub
BidaskClub downgraded shares of Incyte (NASDAQ:INCY) from a sell rating to a strong sell rating in a research note released on Tuesday.
A number of other research firms also recently weighed in on INCY. BMO Capital Markets cut their price target on shares of Incyte from $163.00 to $162.00 and set an outperform rating on the stock in a research note on Thursday, October 26th. Royal Bank of Canada cut their price target on shares of Incyte from $136.00 to $120.00 and set a sector perform rating on the stock in a research note on Tuesday, November 21st. Oppenheimer set a $135.00 price target on shares of Incyte and gave the stock a hold rating in a research note on Tuesday, October 31st. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Incyte in a research note on Tuesday, October 31st. Finally, Deutsche Bank initiated coverage on shares of Incyte in a research note on Tuesday, December 12th. They set a hold rating and a $106.00 price target on the stock. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $143.71.
Incyte (NASDAQ:INCY) traded up $1.24 during trading hours on Tuesday, reaching $93.16. 1,912,640 shares of the company’s stock were exchanged, compared to its average volume of 1,412,143. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.81 and a current ratio of 4.82. The stock has a market capitalization of $19,398.55, a P/E ratio of -116.45 and a beta of 0.74. Incyte has a 12 month low of $88.81 and a 12 month high of $153.15.
Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.11. The company had revenue of $381.50 million for the quarter, compared to the consensus estimate of $360.34 million. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. Incyte’s revenue was up 41.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. research analysts anticipate that Incyte will post -1.34 earnings per share for the current year.
In related news, EVP Vijay K. Iyengar sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $97.26, for a total transaction of $486,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David W. Gryska sold 3,915 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $105.63, for a total transaction of $413,541.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,878 shares of company stock valued at $4,636,494. Company insiders own 17.70% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. grew its holdings in Incyte by 122.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 74,590 shares of the biopharmaceutical company’s stock valued at $9,392,000 after purchasing an additional 40,992 shares in the last quarter. Inverness Counsel LLC NY acquired a new position in Incyte during the 3rd quarter worth $330,000. LMR Partners LLP acquired a new position in Incyte during the 3rd quarter worth $394,000. Swiss National Bank grew its holdings in Incyte by 3.0% during the 3rd quarter. Swiss National Bank now owns 641,700 shares of the biopharmaceutical company’s stock worth $74,912,000 after acquiring an additional 18,700 shares in the last quarter. Finally, BB Biotech AG grew its holdings in Incyte by 0.7% during the 2nd quarter. BB Biotech AG now owns 3,514,822 shares of the biopharmaceutical company’s stock worth $442,551,000 after acquiring an additional 25,000 shares in the last quarter. 90.76% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: This story was published by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of US and international copyright and trademark law. The correct version of this story can be accessed at https://www.watchlistnews.com/incyte-incy-downgraded-by-bidaskclub/1815796.html.
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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.