A number of firms have modified their ratings and price targets on shares of Incyte (NASDAQ: INCY) recently:

  • 11/15/2018 – Incyte was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 11/6/2018 – Incyte was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 10/30/2018 – Incyte was given a new $88.00 price target on by analysts at JPMorgan Chase & Co.. They now have a “buy” rating on the stock.
  • 10/30/2018 – Incyte had its “buy” rating reaffirmed by analysts at Cowen Inc.
  • 10/25/2018 – Incyte had its “buy” rating reaffirmed by analysts at Raymond James. They now have a $85.00 price target on the stock. They wrote, “We are reiterating our Strong Buy rating for Incyte. This morning, the company announced that the FDA has accepted for priority review its supplemental new drug application (sNDA) for Jakafi for the treatment of patients with steroid-refractory acute graft versus host disease (SR-aGVHD). The priority review grants a 6 month review period by the FDA, resulting in a PDUFA date of approximately March 25, 2019. Based on positive data from the REACH1 study, we remain confident regarding Incyte’s expansion into the steroid refractory GVHD market, which we estimate to be a ~$500 million market opportunity in the U.S.””
  • 10/21/2018 – Incyte had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $74.00 price target on the stock, up previously from $73.00. They wrote, “. We are increasing our price target to $74 from $73 and reiterating our Neutral rating on INCY. At the ongoing ESMO, INCY provided updated Fight-202 results in cholangiocarcinoma, which looked superior to the previously disclosed initial data. Additionally, in a late-breaker presentation, Novartis (NVS, Not Covered) reported Phase II results from its MET inhibitor capmatinib in MET-mutated advanced non-small cell lung cancer (NSCLC) patients. Note that NVS received worldwide rights for capmatinib from INCY. NVS reported promising response rate data that compare favorably to earlier reported results from any MET inhibitors.””
  • 10/16/2018 – 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 of the drug. Incyte expects to submit an sNDA seeking approval of Jakafi in patients with steroid-refractory acute graft-versus-host disease in the third quarter of 2018. The recent FDA approval of Olumiant 2 mg is a positive as well as Incyte received a 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 of the company. Further, the approval of the 4mg dose of baricitinib is doubtful.  Moreover, Incyte’s dependence on only Jakafi is concerning. Shares have underperformed the industry in the year so far.”
  • 10/10/2018 – Incyte was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $73.00 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 of the drug. Incyte expects to submit an sNDA seeking approval of Jakafi in patients with steroid-refractory acute graft-versus-host disease in the third quarter of 2018. The recent FDA approval of Olumiant 2 mg is a positive as well as Incyte received a 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 of the company. Further, the approval of the 4mg dose of baricitinib is doubtful.  Moreover, Incyte’s dependence on only Jakafi is concerning. Shares have underperformed the industry in the year so far.”
  • 10/2/2018 – Incyte was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 10/1/2018 – Incyte is now covered by analysts at Cantor Fitzgerald. They set a “neutral” rating and a $73.00 price target on the stock.
  • 9/24/2018 – Incyte is now covered by analysts at Leerink Swann. They set a “market perform” rating and a $78.00 price target on the stock.

Shares of Incyte stock traded up $0.21 during trading on Tuesday, hitting $64.46. 29,754 shares of the stock were exchanged, compared to its average volume of 1,823,042. The stock has a market cap of $14.15 billion, a P/E ratio of 100.72 and a beta of 1.12. Incyte Co. has a 12-month low of $58.33 and a 12-month high of $106.95. The company has a current ratio of 4.02, a quick ratio of 4.01 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.02). The firm had revenue of $449.68 million for the quarter, compared to analysts’ expectations of $448.34 million. Incyte had a positive return on equity of 2.23% and a negative net margin of 6.07%. Incyte’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share. As a group, sell-side analysts forecast that Incyte Co. will post 0.43 earnings per share for the current fiscal year.

In other news, EVP Paula J. Swain sold 10,000 shares of Incyte stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $73.21, for a total transaction of $732,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 1,000 shares of Incyte stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,000 shares of company stock valued at $1,502,100. Corporate insiders own 17.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in INCY. Xact Kapitalforvaltning AB lifted its position in Incyte by 4.4% in the second quarter. Xact Kapitalforvaltning AB now owns 32,682 shares of the biopharmaceutical company’s stock valued at $2,190,000 after acquiring an additional 1,383 shares during the last quarter. Oakbrook Investments LLC purchased a new stake in Incyte in the second quarter valued at $497,000. Amalgamated Bank lifted its position in Incyte by 7.6% in the second quarter. Amalgamated Bank now owns 27,377 shares of the biopharmaceutical company’s stock valued at $1,834,000 after acquiring an additional 1,928 shares during the last quarter. Fred Alger Management Inc. lifted its position in Incyte by 272.6% in the second quarter. Fred Alger Management Inc. now owns 111,450 shares of the biopharmaceutical company’s stock valued at $7,467,000 after acquiring an additional 81,535 shares during the last quarter. Finally, D.B. Root & Company LLC raised its holdings in shares of Incyte by 141.4% in the second quarter. D.B. Root & Company LLC now owns 20,300 shares of the biopharmaceutical company’s stock valued at $1,360,000 after buying an additional 11,892 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

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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