Incyte (NASDAQ:INCY) Earns “Outperform” Rating from William Blair

William Blair reiterated their outperform rating on shares of Incyte (NASDAQ:INCY) in a report issued on Monday morning, RTT News reports.

Other equities research analysts have also issued research reports about the company. Oppenheimer cut their target price on Incyte from $84.00 to $81.00 and set an outperform rating on the stock in a research report on Friday, July 26th. Royal Bank of Canada restated a sector perform rating and set a $67.00 target price on shares of Incyte in a research report on Tuesday, September 3rd. BMO Capital Markets restated an underperform rating and set a $48.00 target price (down previously from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft increased their price target on Incyte from $55.00 to $60.00 and gave the stock a hold rating in a report on Thursday, August 1st. Finally, Cantor Fitzgerald reiterated a neutral rating on shares of Incyte in a report on Monday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Incyte has a consensus rating of Hold and an average target price of $73.29.

Incyte Stock Performance

Shares of INCY stock opened at $63.13 on Monday. The stock has a market cap of $14.18 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 4.88 and a beta of 0.73. The stock has a 50-day moving average of $63.63 and a 200-day moving average of $59.52. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. Incyte has a 1-year low of $50.27 and a 1-year high of $70.36.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that Incyte will post 0.67 earnings per share for the current year.

Insider Activity at Incyte

In related news, EVP Barry P. Flannelly sold 1,306 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total transaction of $83,832.14. Following the completion of the sale, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at $3,725,715.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the sale, the executive vice president now directly owns 36,701 shares of the company’s stock, valued at $2,569,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 1,306 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total value of $83,832.14. Following the sale, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at $3,725,715.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,025 shares of company stock valued at $1,662,682. 17.50% of the stock is owned by insiders.

Institutional Trading of Incyte

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Incyte by 0.9% in the first quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company’s stock worth $1,294,120,000 after buying an additional 196,440 shares during the last quarter. Acadian Asset Management LLC increased its position in Incyte by 28.0% in the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after buying an additional 779,243 shares during the last quarter. LSV Asset Management increased its position in Incyte by 0.5% in the second quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock worth $167,911,000 after buying an additional 15,115 shares during the last quarter. Pacer Advisors Inc. increased its position in Incyte by 17,460.4% in the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after buying an additional 2,676,851 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Incyte by 70.5% in the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after buying an additional 1,101,041 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.