Incyte (INCY) Research Coverage Started at Leerink Swann

Leerink Swann initiated coverage on shares of Incyte (NASDAQ:INCY) in a report published on Monday, MarketBeat.com reports. The firm issued a market perform rating and a $78.00 price target on the biopharmaceutical company’s stock.

INCY has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Incyte from a buy rating to a hold rating in a research note on Monday, July 23rd. BidaskClub upgraded shares of Incyte from a buy rating to a strong-buy rating in a research note on Friday, August 31st. Raymond James reiterated a buy rating on shares of Incyte in a research note on Friday, July 27th. JPMorgan Chase & Co. reiterated a buy rating on shares of Incyte in a research note on Saturday, September 15th. Finally, Evercore ISI upgraded shares of Incyte from an in-line rating to an outperform rating and raised their price objective for the company from $60.23 to $140.11 in a research note on Monday, June 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $99.32.

NASDAQ INCY opened at $67.42 on Monday. Incyte has a 12 month low of $60.22 and a 12 month high of $118.32. The company has a current ratio of 4.34, a quick ratio of 4.32 and a debt-to-equity ratio of 0.01. The company has a market cap of $14.13 billion, a P/E ratio of 105.34 and a beta of 1.14.

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

In related news, EVP Paula J. Swain sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $73.21, for a total transaction of $732,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vijay K. Iyengar sold 606 shares of the firm’s stock in a transaction that occurred on Monday, July 9th. The stock was 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 have sold 20,606 shares of company stock valued at $1,475,332 over the last 90 days. 17.20% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Assetmark Inc. boosted its holdings in Incyte by 221.5% during the first quarter. Assetmark Inc. now owns 1,405 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 968 shares in the last quarter. Blackhawk Capital Partners LLC. boosted its holdings in Incyte by 162.5% during the first quarter. Blackhawk Capital Partners LLC. now owns 1,575 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 975 shares in the last quarter. Resources Investment Advisors Inc. boosted its holdings in Incyte by 93.8% during the second quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 841 shares in the last quarter. Point72 Asia Hong Kong Ltd boosted its holdings in Incyte by 1,446.4% during the first quarter. Point72 Asia Hong Kong Ltd now owns 2,134 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 1,996 shares in the last quarter. Finally, First Mercantile Trust Co. boosted its holdings in Incyte by 75.8% during the second quarter. First Mercantile Trust Co. now owns 2,157 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 930 shares in the last quarter. Hedge funds and other institutional investors own 91.50% of the company’s stock.

About Incyte

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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Analyst Recommendations for Incyte (NASDAQ:INCY)

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