October 1, 2022
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Incyte (NASDAQ:INCYGet Rating) was downgraded by equities research analysts at Evercore ISI to an “in-line” rating in a research report issued on Thursday, Stock Target Advisor reports.

Several other equities analysts also recently weighed in on INCY. SVB Leerink lifted their price target on shares of Incyte from $58.00 to $63.00 and gave the company an “underperform” rating in a report on Wednesday, July 20th. Oppenheimer lowered their price target on shares of Incyte from $109.00 to $98.00 in a report on Wednesday, August 3rd. TheStreet downgraded shares of Incyte from a “b” rating to a “c+” rating in a report on Monday, August 22nd. Guggenheim downgraded shares of Incyte to a “neutral” rating in a report on Tuesday, August 9th. Finally, StockNews.com raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.92.

Incyte Stock Performance

NASDAQ INCY traded up $0.58 during trading hours on Thursday, hitting $67.41. 1,240,548 shares of the company’s stock traded hands, compared to its average volume of 1,528,457. The business’s fifty day moving average price is $73.84 and its two-hundred day moving average price is $75.41. The company has a current ratio of 3.91, a quick ratio of 3.85 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $14.99 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.11 and a beta of 0.66. Incyte has a 52 week low of $61.91 and a 52 week high of $84.86.

Incyte (NASDAQ:INCYGet Rating) last announced its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.22. The company had revenue of $911.40 million during the quarter, compared to analyst estimates of $818.25 million. Incyte had a net margin of 28.46% and a return on equity of 13.02%. The firm’s quarterly revenue was up 29.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 earnings per share. Equities research analysts predict that Incyte will post 2.45 EPS for the current year.

Insider Activity at Incyte

In related news, EVP Vijay K. Iyengar sold 5,787 shares of the company’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $79.38, for a total transaction of $459,372.06. Following the sale, the executive vice president now owns 40,313 shares of the company’s stock, valued at $3,200,045.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Incyte news, insider Thomas Tray sold 1,564 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $83.13, for a total transaction of $130,015.32. Following the transaction, the insider now owns 17,702 shares in the company, valued at $1,471,567.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vijay K. Iyengar sold 5,787 shares of the business’s stock in a transaction on Thursday, July 7th. The shares were 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. 17.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Incyte by 6.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,057,382 shares of the biopharmaceutical company’s stock worth $77,612,000 after purchasing an additional 64,720 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Incyte by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 3,858,142 shares of the biopharmaceutical company’s stock worth $282,546,000 after purchasing an additional 32,423 shares during the last quarter. Gotham Asset Management LLC grew its holdings in shares of Incyte by 511.8% in the fourth quarter. Gotham Asset Management LLC now owns 20,856 shares of the biopharmaceutical company’s stock worth $1,531,000 after purchasing an additional 17,447 shares during the last quarter. Siemens Fonds Invest GmbH grew its holdings in shares of Incyte by 8.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 7,430 shares of the biopharmaceutical company’s stock worth $551,000 after purchasing an additional 591 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in shares of Incyte by 5.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 20,131 shares of the biopharmaceutical company’s stock worth $1,478,000 after purchasing an additional 1,081 shares during the last quarter. Institutional investors own 94.74% of the company’s stock.

Incyte Company Profile

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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.

See Also

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Analyst Recommendations for Incyte (NASDAQ:INCY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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