Incyte (NASDAQ:INCY) Rating Reiterated by Truist Financial

Truist Financial reiterated their buy rating on shares of Incyte (NASDAQ:INCY) in a report released on Wednesday, Benzinga reports. They currently have a $83.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $84.00.

A number of other brokerages also recently weighed in on INCY. BMO Capital Markets lowered their target price on shares of Incyte from $56.00 to $52.00 and set a market perform rating on the stock in a research note on Wednesday. JMP Securities downgraded shares of Incyte from an outperform rating to a market perform rating in a report on Wednesday, February 14th. Citigroup cut their target price on shares of Incyte from $82.00 to $81.00 and set a buy rating for the company in a research report on Wednesday, February 14th. William Blair reaffirmed an outperform rating on shares of Incyte in a research note on Tuesday, February 6th. Finally, Bank of America cut their price target on shares of Incyte from $69.00 to $67.00 and set a neutral rating for the company in a research report on Wednesday, March 13th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Incyte has a consensus rating of Moderate Buy and a consensus price target of $74.93.

Incyte Stock Up 1.3 %

Shares of NASDAQ:INCY opened at $53.76 on Wednesday. The firm has a fifty day moving average price of $56.09 and a two-hundred day moving average price of $57.55. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.25 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.36. Incyte has a one year low of $50.27 and a one year high of $67.72.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the business posted $0.44 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts anticipate that Incyte will post 3.78 EPS for the current fiscal year.

Institutional Trading of Incyte

Several large investors have recently bought and sold shares of INCY. Cape Investment Advisory Inc. purchased a new position in shares of Incyte in the 4th quarter valued at approximately $25,000. Larson Financial Group LLC raised its holdings in Incyte by 4,220.0% in the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 422 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Incyte during the fourth quarter valued at $31,000. Redmont Wealth Advisors LLC bought a new stake in shares of Incyte during the 1st quarter valued at $28,000. Finally, Riverview Trust Co purchased a new stake in shares of Incyte in the 1st quarter worth about $29,000. 96.97% of the stock is owned by institutional investors.

About Incyte

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.