INCY has been the topic of several other reports. JPMorgan Chase & Co. reaffirmed a buy rating and set a $88.00 target price on shares of Incyte in a report on Sunday, June 24th. Raymond James reaffirmed a buy rating on shares of Incyte in a report on Friday, July 27th. Piper Jaffray Companies assumed coverage on Incyte in a report on Wednesday, May 30th. They set a buy rating and a $85.00 target price on the stock. Royal Bank of Canada upgraded Incyte from a sector perform rating to an outperform rating and set a $74.00 price target on the stock in a research report on Wednesday, August 15th. They noted that the move was a valuation call. Finally, Morgan Stanley downgraded Incyte from an overweight rating to an equal weight rating in a research report on Friday, July 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $100.51.
Incyte stock opened at $68.09 on Thursday. The stock has a market cap of $14.14 billion, a P/E ratio of 106.39 and a beta of 1.14. Incyte has a 52 week low of $60.22 and a 52 week high of $120.98. The company has a current ratio of 4.34, a quick ratio of 4.32 and a debt-to-equity ratio of 0.01.
In other Incyte news, EVP Paula J. Swain sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $73.21, for a total transaction of $732,100.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Vijay K. Iyengar sold 606 shares of the firm’s stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $71.34, for a total value of $43,232.04. The disclosure for this sale can be found here. Insiders have sold 20,606 shares of company stock worth $1,475,332 in the last quarter. 17.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Shikiar Asset Management Inc. lifted its position in shares of Incyte by 534.2% in the second quarter. Shikiar Asset Management Inc. now owns 113,200 shares of the biopharmaceutical company’s stock valued at $7,584,000 after acquiring an additional 95,350 shares in the last quarter. Blackhawk Capital Partners LLC. lifted its position in shares of Incyte by 133.0% in the second quarter. Blackhawk Capital Partners LLC. now owns 3,670 shares of the biopharmaceutical company’s stock valued at $246,000 after acquiring an additional 2,095 shares in the last quarter. Fred Alger Management Inc. lifted its position in shares of Incyte by 272.6% in the second quarter. Fred Alger Management Inc. now owns 111,450 shares of the biopharmaceutical company’s stock valued at $7,467,000 after acquiring an additional 81,535 shares in the last quarter. BP PLC purchased a new position in shares of Incyte in the second quarter valued at approximately $1,541,000. Finally, Norinchukin Bank The lifted its position in shares of Incyte by 14.9% in the first quarter. Norinchukin Bank The now owns 16,097 shares of the biopharmaceutical company’s stock valued at $1,341,000 after acquiring an additional 2,093 shares in the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.
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.
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