BidaskClub downgraded shares of Incyte (NASDAQ:INCY) from a strong-buy rating to a buy rating in a research note published on Tuesday.

Several other brokerages also recently commented on INCY. Cowen reissued a buy rating on shares of Incyte in a report on Tuesday, September 4th. JPMorgan Chase & Co. reissued a buy rating and issued a $88.00 price target on shares of Incyte in a report on Sunday, June 24th. Oppenheimer set a $70.00 price target on shares of Incyte and gave the company a hold rating in a report on Tuesday, July 17th. Argus set a $83.00 price target on shares of Incyte and gave the company a buy rating in a report on Thursday, August 30th. Finally, Zacks Investment Research downgraded shares of Incyte from a buy rating to a hold rating in a report on Monday, July 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. Incyte has an average rating of Buy and a consensus target price of $100.51.

Incyte stock opened at $66.82 on Tuesday. Incyte has a 1-year low of $60.22 and a 1-year high of $125.83. The company has a market capitalization of $14.70 billion, a P/E ratio of 104.33 and a beta of 1.14. The company has a quick ratio of 4.32, a current ratio of 4.34 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.22. Incyte had a negative net margin of 5.92% and a positive return on equity of 1.74%. The business had revenue of $521.50 million during the quarter, compared to analyst estimates of $510.70 million. During the same period in the previous year, the business earned ($0.06) EPS. Incyte’s revenue was up 59.8% compared to the same quarter last year. sell-side analysts forecast that Incyte will post 0.43 EPS for the current year.

In other news, EVP Vijay K. Iyengar sold 606 shares of Incyte stock in a transaction on Monday, July 9th. The shares were sold at an average price of $71.34, for a total transaction of $43,232.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paula J. Swain sold 10,000 shares of Incyte stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $70.00, for a total transaction of $700,000.00. Following the sale, the executive vice president now directly owns 42,324 shares of the company’s stock, valued at $2,962,680. The disclosure for this sale can be found here. Insiders have sold a total of 20,606 shares of company stock valued at $1,475,332 over the last ninety days. 17.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of INCY. Rockefeller Capital Management L.P. bought a new stake in shares of Incyte during the 1st quarter worth $106,000. Resources Investment Advisors Inc. lifted its stake in Incyte by 93.8% in the second quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 841 shares during the last quarter. Assetmark Inc. lifted its stake in Incyte by 221.5% in the first quarter. Assetmark Inc. now owns 1,405 shares of the biopharmaceutical company’s stock worth $117,000 after purchasing an additional 968 shares during the last quarter. Blackhawk Capital Partners LLC. lifted its stake in Incyte by 162.5% in the first quarter. Blackhawk Capital Partners LLC. now owns 1,575 shares of the biopharmaceutical company’s stock worth $131,000 after purchasing an additional 975 shares during the last quarter. Finally, Optimum Investment Advisors bought a new stake in Incyte in the first quarter worth $142,000. 91.52% of the stock is owned by institutional investors.

Incyte Company Profile

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

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Analyst Recommendations for Incyte (NASDAQ:INCY)

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