Incyte (NASDAQ:INCY) Price Target Raised to $65.00 at JPMorgan Chase & Co.

Incyte (NASDAQ:INCY) had its target price boosted by JPMorgan Chase & Co. from $61.00 to $65.00 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

INCY has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Bank of America lifted their target price on shares of Incyte from $66.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Wells Fargo & Company decreased their target price on shares of Incyte from $63.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, October 10th. Guggenheim lifted their target price on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Oppenheimer decreased their target price on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.42.

Incyte Trading Down 0.3 %

Incyte stock opened at $65.07 on Wednesday. The company has a 50 day moving average price of $65.15 and a 200 day moving average price of $61.21. Incyte has a 52 week low of $50.27 and a 52 week high of $70.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.92. The firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of 180.75, a P/E/G ratio of 5.31 and a beta of 0.73.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business posted $0.77 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Research analysts forecast that Incyte will post 0.66 EPS for the current year.

Insider Buying and Selling

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the transaction, the executive vice president now owns 36,390 shares in the company, valued at $2,269,280.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the transaction, the executive vice president now owns 36,390 shares in the company, valued at $2,269,280.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas Tray sold 572 shares of Incyte stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now owns 24,825 shares in the company, valued at $1,562,485.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in shares of Incyte by 48.8% during the 4th quarter. Wellington Management Group LLP now owns 131,649 shares of the biopharmaceutical company’s stock worth $8,266,000 after purchasing an additional 43,160 shares during the period. FORVIS Wealth Advisors LLC bought a new position in shares of Incyte during the 1st quarter worth about $1,495,000. ProShare Advisors LLC increased its holdings in shares of Incyte by 14.4% during the 1st quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company’s stock worth $3,594,000 after purchasing an additional 7,925 shares during the period. Kennedy Capital Management LLC bought a new position in shares of Incyte during the 1st quarter worth about $463,000. Finally, Diversified Trust Co increased its holdings in shares of Incyte by 123.7% during the 1st quarter. Diversified Trust Co now owns 36,062 shares of the biopharmaceutical company’s stock worth $2,054,000 after purchasing an additional 19,944 shares during the period. Institutional investors own 96.97% of the company’s stock.

About Incyte

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.