Incyte (INCY) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Incyte (NASDAQ:INCY) from a sell rating to a strong sell rating in a research report report published on Wednesday morning.

Other equities analysts have also recently issued research reports about the company. Nomura reaffirmed a buy rating on shares of Incyte in a research note on Thursday, February 1st. BMO Capital Markets reaffirmed a buy rating and set a $172.00 target price on shares of Incyte in a research note on Wednesday, January 3rd. TheStreet cut Incyte from a c- rating to a d+ rating in a research note on Tuesday, December 5th. ValuEngine raised Incyte from a sell rating to a hold rating in a research note on Thursday, March 1st. Finally, Citigroup reaffirmed a market perform rating and set a $120.00 target price (down previously from $135.00) on shares of Incyte in a research note on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $134.38.

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NASDAQ:INCY opened at $64.02 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.99 and a current ratio of 4.01. Incyte has a fifty-two week low of $63.43 and a fifty-two week high of $142.45. The stock has a market cap of $17,594.12, a price-to-earnings ratio of 100.03 and a beta of 0.66.

Incyte (NASDAQ:INCY) last released its earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.54. Incyte had a negative return on equity of 11.85% and a negative net margin of 20.38%. The company had revenue of $444.20 million for the quarter, compared to analysts’ expectations of $435.23 million. During the same quarter in the previous year, the business posted $0.05 EPS. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. equities analysts forecast that Incyte will post -0.21 earnings per share for the current fiscal year.

In related news, insider David W. Gryska sold 1,952 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.56, for a total value of $167,013.12. Following the completion of the sale, the insider now directly owns 12,922 shares in the company, valued at approximately $1,105,606.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Reid M. Huber sold 1,958 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.55, for a total value of $167,506.90. The disclosure for this sale can be found here. 17.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AMP Capital Investors Ltd lifted its holdings in Incyte by 0.7% in the 3rd quarter. AMP Capital Investors Ltd now owns 72,076 shares of the biopharmaceutical company’s stock worth $8,414,000 after purchasing an additional 500 shares during the last quarter. Addison Capital Co lifted its holdings in Incyte by 9.5% in the 4th quarter. Addison Capital Co now owns 6,632 shares of the biopharmaceutical company’s stock worth $628,000 after purchasing an additional 574 shares during the last quarter. Synovus Financial Corp lifted its holdings in Incyte by 6.4% in the 3rd quarter. Synovus Financial Corp now owns 9,926 shares of the biopharmaceutical company’s stock worth $1,160,000 after purchasing an additional 593 shares during the last quarter. New Mexico Educational Retirement Board lifted its holdings in Incyte by 3.8% in the 4th quarter. New Mexico Educational Retirement Board now owns 16,400 shares of the biopharmaceutical company’s stock worth $1,553,000 after purchasing an additional 600 shares during the last quarter. Finally, Greenwood Capital Associates LLC lifted its holdings in Incyte by 35.9% in the 4th quarter. Greenwood Capital Associates LLC now owns 2,719 shares of the biopharmaceutical company’s stock worth $258,000 after purchasing an additional 718 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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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.

Analyst Recommendations for Incyte (NASDAQ:INCY)

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