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.

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About Incyte

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).

Analyst Recommendations for Incyte (NASDAQ:INCY)

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