Incyte (INCY) Stock Rating Lowered by TheStreet

Incyte (NASDAQ:INCY) was downgraded by stock analysts at TheStreet from a “c-” rating to a “d+” rating in a research report issued on Tuesday.

A number of other analysts also recently weighed in on INCY. Evercore ISI started coverage on shares of Incyte in a research report on Wednesday, August 16th. They set an “in-line” rating and a $135.00 price target for the company. BMO Capital Markets reissued an “outperform” rating and set a $172.00 price target on shares of Incyte in a research report on Monday, August 28th. Oppenheimer reissued a “hold” rating and set a $135.00 price target on shares of Incyte in a research report on Thursday, August 31st. J P Morgan Chase & Co reissued a “buy” rating and set a $149.00 price target on shares of Incyte in a research report on Thursday, August 31st. Finally, Raymond James Financial raised shares of Incyte from a “market perform” rating to an “outperform” rating and set a $159.00 price target for the company in a research report on Monday, September 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $145.65.

Shares of Incyte (INCY) opened at $94.83 on Tuesday. Incyte has a 1 year low of $92.91 and a 1 year high of $153.15. The company has a current ratio of 4.82, a quick ratio of 4.81 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. The business had revenue of $381.50 million during the quarter, compared to the consensus estimate of $360.34 million. During the same quarter last year, the company earned $0.19 earnings per share. The business’s quarterly revenue was up 41.6% compared to the same quarter last year. analysts forecast that Incyte will post -1.33 earnings per share for the current fiscal year.

In other Incyte news, EVP Barry P. Flannelly sold 714 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $124.25, for a total value of $88,714.50. Following the sale, the executive vice president now directly owns 15,496 shares in the company, valued at $1,925,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Herve Hoppenot sold 70,502 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $119.45, for a total value of $8,421,463.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,334 shares of company stock valued at $11,992,011. 17.70% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Wetherby Asset Management Inc. lifted its stake in Incyte by 1.4% in the second quarter. Wetherby Asset Management Inc. now owns 1,672 shares of the biopharmaceutical company’s stock valued at $211,000 after buying an additional 23 shares during the last quarter. Nordea Investment Management AB lifted its stake in Incyte by 0.8% in the second quarter. Nordea Investment Management AB now owns 8,179 shares of the biopharmaceutical company’s stock valued at $1,030,000 after buying an additional 67 shares during the last quarter. IFP Advisors Inc lifted its stake in Incyte by 9.9% in the second quarter. IFP Advisors Inc now owns 1,146 shares of the biopharmaceutical company’s stock valued at $144,000 after buying an additional 103 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Incyte by 13.8% in the second quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 108 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in Incyte by 2.8% in the second quarter. Teacher Retirement System of Texas now owns 4,855 shares of the biopharmaceutical company’s stock valued at $611,000 after buying an additional 133 shares during the last quarter. Institutional investors own 90.86% of the company’s stock.

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Incyte Company Profile

Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).

Analyst Recommendations for Incyte (NASDAQ:INCY)

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