Incyte (NASDAQ:INCY) had its price target lowered by Morgan Stanley from $93.00 to $86.00 in a report released on Monday, Stock Target Advisor reports. The brokerage currently has an equal weight rating on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on INCY. Truist started coverage on Incyte in a report on Thursday, January 7th. They set a buy rating and a $120.00 price target for the company. Guggenheim raised Incyte from a neutral rating to a buy rating in a report on Monday, January 4th. SVB Leerink cut Incyte from a market perform rating to an underperform rating and lowered their price objective for the stock from $89.00 to $70.00 in a research report on Wednesday, February 10th. Finally, TheStreet cut Incyte from a b- rating to a c rating in a research report on Monday, March 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $101.88.

Shares of Incyte stock opened at $81.38 on Monday. The business has a fifty day simple moving average of $80.22 and a two-hundred day simple moving average of $85.97. Incyte has a 1 year low of $75.52 and a 1 year high of $110.36. The company has a market capitalization of $17.89 billion, a price-to-earnings ratio of -51.83, a P/E/G ratio of 0.98 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.56 and a quick ratio of 3.53.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Monday, February 8th. The biopharmaceutical company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.30. Incyte had a negative return on equity of 13.66% and a negative net margin of 13.62%. The business had revenue of $788.50 million during the quarter, compared to the consensus estimate of $654.08 million. During the same quarter last year, the firm posted $0.65 EPS. The company’s quarterly revenue was up 36.1% on a year-over-year basis. As a group, equities analysts anticipate that Incyte will post -1.45 earnings per share for the current fiscal year.

In related news, EVP Dashyant Dhanak sold 396 shares of Incyte stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $81.57, for a total transaction of $32,301.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Yao Wenqing sold 21,545 shares of the stock in a transaction that occurred on Monday, January 25th. The shares were sold at an average price of $100.00, for a total transaction of $2,154,500.00. Following the completion of the transaction, the executive vice president now directly owns 145,343 shares of the company’s stock, valued at approximately $14,534,300. The disclosure for this sale can be found here. Insiders sold 41,941 shares of company stock worth $3,808,402 in the last 90 days. 16.10% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. lifted its stake in Incyte by 49.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 383 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 127 shares during the last quarter. Argus Investors Counsel Inc. lifted its stake in Incyte by 2.0% in the 4th quarter. Argus Investors Counsel Inc. now owns 6,706 shares of the biopharmaceutical company’s stock valued at $583,000 after purchasing an additional 129 shares during the last quarter. QS Investors LLC lifted its stake in Incyte by 2.4% in the 4th quarter. QS Investors LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $487,000 after purchasing an additional 130 shares during the last quarter. Harvest Investment Services LLC lifted its stake in Incyte by 4.8% in the 4th quarter. Harvest Investment Services LLC now owns 2,988 shares of the biopharmaceutical company’s stock valued at $259,000 after purchasing an additional 136 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. lifted its stake in Incyte by 7.5% in the 4th quarter. Winslow Evans & Crocker Inc. now owns 2,041 shares of the biopharmaceutical company’s stock valued at $177,000 after purchasing an additional 142 shares during the last quarter. 91.37% of the stock is owned by institutional investors and hedge funds.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor for the treatment of adults; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Analyst Recommendations for Incyte (NASDAQ:INCY)

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