JMP Securities Reaffirms “Market Perform” Rating for Incyte (NASDAQ:INCY)

Incyte (NASDAQ:INCY)‘s stock had its “market perform” rating reissued by JMP Securities in a report released on Tuesday,Benzinga reports.

A number of other research firms have also recently weighed in on INCY. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $90.00 in a research note on Tuesday, October 29th. UBS Group started coverage on shares of Incyte in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective for the company. Oppenheimer boosted their target price on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Citigroup upped their price target on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $76.29.

Incyte Price Performance

INCY opened at $72.46 on Tuesday. The firm has a market capitalization of $13.96 billion, a PE ratio of 517.61, a price-to-earnings-growth ratio of 7.90 and a beta of 0.71. The business’s 50-day moving average is $72.95 and its two-hundred day moving average is $67.78. Incyte has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm earned $0.91 EPS. The company’s revenue was up 23.8% compared to the same quarter last year. Research analysts anticipate that Incyte will post 0.4 earnings per share for the current fiscal year.

Insider Transactions at Incyte

In other news, insider Thomas Tray sold 650 shares of Incyte stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the transaction, the insider now directly owns 23,312 shares of the company’s stock, valued at $1,615,754.72. The trade was a 2.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the transaction, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,023 shares of company stock worth $839,711 over the last quarter. 17.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of Incyte during the 3rd quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Incyte in the 3rd quarter worth about $33,000. Cromwell Holdings LLC boosted its position in Incyte by 101.1% during the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 283 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Incyte in the second quarter valued at approximately $36,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Incyte in the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.