Several brokerages have updated their recommendations and price targets on shares of Incyte (NASDAQ: INCY) in the last few weeks:

  • 9/11/2018 – Incyte was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 9/4/2018 – Incyte had its “buy” rating reaffirmed by analysts at Cowen Inc.
  • 8/31/2018 – Incyte was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 8/30/2018 – Incyte was given a new $83.00 price target on by analysts at Argus. They now have a “buy” rating on the stock.
  • 8/20/2018 – Incyte was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/15/2018 – Incyte was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating. They now have a $74.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 8/14/2018 – Incyte was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 8/8/2018 – Incyte was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 8/1/2018 – Incyte was downgraded by analysts at JMP Securities from an “outperform” rating to a “market perform” rating.
  • 8/1/2018 – Incyte had its “buy” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $88.00 price target on the stock. They wrote, “INCY’s 1Q print/report (initial thoughts here; slides here) this morning was relatively uneventful. Following the success of REACH1 in acute GVHD, management is planning a regulatory filing in 3Q18 (recall Jakafi has BTD status) with plans for an immediate launch upon approval. Also, as previously disclosed, a filing for the FGFR inhibitor in cholangiocarcinoma is still anticipated in 2019, pending final data follow- up (interim data at recent investor day). We’re maintaining our OW given shares are trading at a discount to our DCF derived fair value for the base business. With that said, we suspect it will require some significant execution on the relatively broad pipeline for investors to more actively re-engage with the story.””
  • 7/31/2018 – Incyte was given a new $70.00 price target on by analysts at Oppenheimer Holdings Inc.. They now have a “hold” rating on the stock.
  • 7/31/2018 – Incyte had its “buy” rating reaffirmed by analysts at Cowen Inc.
  • 7/27/2018 – Incyte had its “buy” rating reaffirmed by analysts at Raymond James. They wrote, “We are maintaining our Outperform rating for Incyte. Recently, Novartis reported Jakavi sales of $239 million for 2Q18, showcasing continued strong year-over-year growth, although the revenues were slightly lower than consensus estimates of $245 million (in line with our estimate of $240 million). Separately, Lilly reported Olumiant sales of $45 million worldwide (consensus of $47 million versus our estimate of $35 million), representing a growth of ~40% since 1Q18. Given the growing Jakafi franchise, a burgeoning pipeline addressing significant market opportunities that is largely not appreciated by most investors, and a cash position of $1.3 billion (pro forma), we continue to recommend shares of INCY to long-term, risk-tolerant investors.””
  • 7/25/2018 – Incyte was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/23/2018 – Incyte was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Incyte's Jakafi continues to drive growth propelled by increase in patient demand. Jakafi’s performance is expected to get a further boost with a potential label expansion. Incyte expects to submit an sNDA seeking approval of Jakafi in patients with steroid-refractory acute graft-versus-host disease in the second half of 2018. The recent FDA approval of Olumiant 2 mg will further boost investor sentiment  as Incyte received milestone payment from Lilly. However, Incyte suffered a huge setback with failure of the phase III study, ECHO-301, evaluating epacadostat in combination with Keytruda as it was one of the most promising candidates. Further, the approval of the 4mg dose of baricitinib is also doubtful.  Moreover, Incyte’s dependence on only Jakafi is concerning. Shares have underperformed the industry in the last six months.”
  • 7/20/2018 – Incyte was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $79.00 price target on the stock. According to Zacks, “Incyte's Jakafi continues to drive growth propelled by increase in patient demand. Jakafi’s performance is expected to get a further boost with a potential label expansion. Incyte expects to submit an sNDA seeking approval of Jakafi in patients with steroid-refractory acute graft-versus-host disease in the second half of 2018. The recent FDA approval of Olumiant 2 mg will further boost investor sentiment  as Incyte received milestone payment from Lilly. However, Incyte suffered a huge setback with failure of the phase III study, ECHO-301, evaluating epacadostat in combination with Keytruda as it was one of the most promising candidates. Further, the approval of the 4mg dose of baricitinib is also doubtful.  Moreover, Incyte’s dependence on only Jakafi is concerning. Shares have underperformed the industry in the last six months.”
  • 7/17/2018 – Incyte was given a new $70.00 price target on by analysts at Oppenheimer Holdings Inc.. They now have a “hold” rating on the stock.

Shares of NASDAQ:INCY traded up $0.97 during trading hours on Thursday, hitting $67.48. The stock had a trading volume of 1,202,000 shares, compared to its average volume of 2,024,208. Incyte Co. has a 1-year low of $60.22 and a 1-year high of $124.71. The firm has a market capitalization of $14.20 billion, a P/E ratio of 105.44 and a beta of 1.14. The company has a current ratio of 4.34, a quick ratio of 4.32 and a debt-to-equity ratio of 0.01.

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

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

Several institutional investors have recently bought and sold shares of the company. Nomura Holdings Inc. boosted its holdings in shares of Incyte by 513.3% in the second quarter. Nomura Holdings Inc. now owns 38,836 shares of the biopharmaceutical company’s stock valued at $2,602,000 after acquiring an additional 48,232 shares in the last quarter. Andra AP fonden boosted its holdings in shares of Incyte by 55.1% in the second quarter. Andra AP fonden now owns 67,300 shares of the biopharmaceutical company’s stock valued at $4,509,000 after acquiring an additional 23,900 shares in the last quarter. Global X Management Co LLC boosted its holdings in shares of Incyte by 39.9% in the second quarter. Global X Management Co LLC now owns 18,520 shares of the biopharmaceutical company’s stock valued at $1,241,000 after acquiring an additional 5,286 shares in the last quarter. Verition Fund Management LLC boosted its holdings in shares of Incyte by 247.4% in the second quarter. Verition Fund Management LLC now owns 20,377 shares of the biopharmaceutical company’s stock valued at $1,365,000 after acquiring an additional 14,511 shares in the last quarter. Finally, Ashford Capital Management Inc. boosted its holdings in shares of Incyte by 8.8% in the second quarter. Ashford Capital Management Inc. now owns 155,830 shares of the biopharmaceutical company’s stock valued at $10,441,000 after acquiring an additional 12,543 shares in the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

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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