Incyte (NASDAQ:INCY) Given “Neutral” Rating at UBS Group

UBS Group reissued their neutral rating on shares of Incyte (NASDAQ:INCY) in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $61.00 price target on the biopharmaceutical company’s stock.

Other research analysts have also issued reports about the company. Guggenheim lowered Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research report on Tuesday, March 18th. Stifel Nicolaus increased their price objective on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a report on Monday, February 10th. Morgan Stanley dropped their price objective on Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, March 24th. Wall Street Zen upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Incyte from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $72.53.

Incyte Price Performance

Shares of INCY opened at $67.24 on Tuesday. The company has a market capitalization of $13.02 billion, a price-to-earnings ratio of 249.05, a P/E/G ratio of 0.41 and a beta of 0.68. 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 business’s 50-day moving average is $61.28 and its 200-day moving average is $67.21. Incyte has a fifty-two week low of $53.56 and a fifty-two week high of $83.95.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.15. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. During the same quarter in the prior year, the business earned $0.64 EPS. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities research analysts expect that Incyte will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now directly owns 33,567 shares in the company, valued at $2,272,150.23. This trade represents a 37.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 17.80% of the company’s stock.

Institutional Investors Weigh In On Incyte

Institutional investors have recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. acquired a new stake in shares of Incyte during the 4th quarter worth approximately $26,000. Banque Transatlantique SA acquired a new stake in Incyte during the first quarter worth $26,000. Global X Japan Co. Ltd. boosted its stake in Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares in the last quarter. R Squared Ltd acquired a new stake in Incyte during the fourth quarter worth $30,000. Finally, Raiffeisen Bank International AG acquired a new stake in Incyte during the fourth quarter worth $34,000. 96.97% of the stock is owned by institutional investors and hedge funds.

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.