Incyte (NASDAQ:INCY) Rating Lowered to Market Perform at William Blair

Incyte (NASDAQ:INCY) was downgraded by equities research analysts at William Blair from an “outperform” rating to a “market perform” rating in a report released on Tuesday,Finviz reports.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada lowered their price objective on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 11th. Citigroup lowered their price objective on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company lifted their target price on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Finally, Stifel Nicolaus lifted their target price on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $75.25.

Incyte Trading Down 8.6 %

NASDAQ INCY opened at $62.01 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The firm’s fifty day moving average price is $71.55 and its 200 day moving average price is $70.31. The company has a market capitalization of $12.00 billion, a price-to-earnings ratio of 229.68, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. Incyte has a 12 month low of $50.35 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY) last posted its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. On average, sell-side analysts expect that Incyte will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Incyte news, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the completion of the transaction, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,809,101.52. The trade was a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,020 shares of company stock worth $1,981,882. Insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Incyte

A number of hedge funds and other institutional investors have recently modified their holdings of INCY. GSA Capital Partners LLP grew its holdings in shares of Incyte by 26.5% during the third quarter. GSA Capital Partners LLP now owns 6,453 shares of the biopharmaceutical company’s stock worth $427,000 after buying an additional 1,351 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Incyte by 2.9% during the third quarter. CIBC Asset Management Inc now owns 25,303 shares of the biopharmaceutical company’s stock worth $1,673,000 after buying an additional 723 shares in the last quarter. Swiss National Bank grew its holdings in shares of Incyte by 0.9% during the third quarter. Swiss National Bank now owns 483,274 shares of the biopharmaceutical company’s stock worth $31,944,000 after buying an additional 4,500 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Incyte during the third quarter worth about $186,000. Finally, Banque Cantonale Vaudoise grew its holdings in Incyte by 336.1% in the third quarter. Banque Cantonale Vaudoise now owns 8,730 shares of the biopharmaceutical company’s stock valued at $577,000 after purchasing an additional 6,728 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

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.