Incyte’s (INCY) Buy Rating Reaffirmed at SunTrust Banks

SunTrust Banks reissued their buy rating on shares of Incyte (NASDAQ:INCY) in a report released on Friday morning. SunTrust Banks currently has a $80.00 target price on the biopharmaceutical company’s stock.

Several other brokerages have also recently issued reports on INCY. BMO Capital Markets reaffirmed a buy rating and set a $172.00 target price on shares of Incyte in a research report on Wednesday, January 3rd. Zacks Investment Research cut Incyte from a hold rating to a sell rating in a research report on Tuesday, January 2nd. Raymond James Financial reaffirmed a buy rating on shares of Incyte in a research report on Tuesday, December 12th. BidaskClub raised Incyte from a strong sell rating to a sell rating in a research report on Friday, January 26th. Finally, Deutsche Bank began coverage on Incyte in a research report on Tuesday, December 12th. They set a hold rating and a $106.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Incyte currently has an average rating of Buy and a consensus target price of $131.03.

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Shares of Incyte stock opened at $64.02 on Friday. The company has a market capitalization of $13,559.37, a price-to-earnings ratio of 100.03 and a beta of 0.66. The company has a quick ratio of 3.99, a current ratio of 4.01 and a debt-to-equity ratio of 0.01. Incyte has a 52 week low of $63.43 and a 52 week high of $142.45.

Incyte (NASDAQ:INCY) last announced its earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.54. The company had revenue of $444.20 million for the quarter, compared to analysts’ expectations of $435.23 million. Incyte had a negative return on equity of 11.85% and a negative net margin of 20.38%. Incyte’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.05 earnings per share. research analysts predict that Incyte will post -0.28 EPS for the current year.

In related news, insider David W. Gryska sold 1,952 shares of Incyte stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.56, for a total transaction of $167,013.12. Following the sale, the insider now directly owns 12,922 shares in the company, valued at $1,105,606.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Reid M. Huber sold 1,958 shares of Incyte stock in a transaction 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. Company insiders own 17.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of INCY. Financial Gravity Companies Inc. bought a new stake in shares of Incyte in the fourth quarter valued at $120,000. Advantage Investment Management LLC raised its stake in shares of Incyte by 1,233.3% in the fourth quarter. Advantage Investment Management LLC now owns 2,000 shares of the biopharmaceutical company’s stock valued at $189,000 after buying an additional 1,850 shares during the period. Griffin Asset Management Inc. bought a new stake in shares of Incyte in the fourth quarter valued at $200,000. Private Advisor Group LLC bought a new stake in shares of Incyte in the third quarter valued at $203,000. Finally, Mission Wealth Management LP bought a new stake in shares of Incyte in the fourth quarter valued at $213,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

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Incyte Company Profile

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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