Incyte (NASDAQ:INCY) Receives Neutral Rating from Royal Bank of Canada

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Royal Bank of Canada reissued their neutral rating on shares of Incyte (NASDAQ:INCY) in a research note released on Monday, January 6th, AnalystRatings.com reports.

INCY has been the topic of several other research reports. Mizuho downgraded shares of Incyte from a buy rating to a neutral rating and reduced their price objective for the company from $98.00 to $79.00 in a research note on Thursday, January 2nd. Citigroup reaffirmed an outperform rating and set a $96.00 price target (down previously from $100.00) on shares of Incyte in a research note on Friday, January 3rd. Oppenheimer cut their price target on shares of Incyte from $100.00 to $96.00 and set an outperform rating on the stock in a research note on Friday, January 3rd. JMP Securities cut their price target on shares of Incyte from $110.00 to $99.00 and set a market outperform rating on the stock in a research note on Friday, January 3rd. Finally, Credit Suisse Group cut their price target on shares of Incyte from $90.00 to $86.00 and set a neutral rating on the stock in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $91.54.

Shares of INCY stock traded up $0.07 during trading hours on Monday, hitting $80.61. The company’s stock had a trading volume of 243,300 shares, compared to its average volume of 1,760,126. The company has a current ratio of 5.02, a quick ratio of 5.01 and a debt-to-equity ratio of 0.02. The stock has a market cap of $17.55 billion, a price-to-earnings ratio of 98.30, a P/E/G ratio of 0.91 and a beta of 0.97. The business has a fifty day moving average of $88.16 and a 200-day moving average of $82.98. Incyte has a twelve month low of $72.00 and a twelve month high of $96.79.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.27. The business had revenue of $551.58 million for the quarter, compared to the consensus estimate of $534.73 million. Incyte had a net margin of 19.21% and a return on equity of 20.07%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 earnings per share. On average, equities analysts expect that Incyte will post 2.14 EPS for the current fiscal year.

In other news, insider Paul Trower sold 16,500 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $80.45, for a total value of $1,327,425.00. Following the transaction, the insider now directly owns 23,907 shares in the company, valued at approximately $1,923,318.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Yao Wenqing sold 2,040 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $85.00, for a total transaction of $173,400.00. Following the completion of the transaction, the executive vice president now owns 47,348 shares in the company, valued at $4,024,580. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 131,436 shares of company stock valued at $11,391,310. Company insiders own 17.10% of the company’s stock.

Large investors have recently modified their holdings of the stock. Commonwealth Bank of Australia lifted its position in Incyte by 49.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 376 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 124 shares during the last quarter. Pathstone Family Office LLC bought a new stake in Incyte in the 2nd quarter valued at about $34,000. Captrust Financial Advisors bought a new stake in Incyte in the 2nd quarter valued at about $35,000. Benjamin F. Edwards & Company Inc. lifted its position in Incyte by 617.7% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 445 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 383 shares during the last quarter. Finally, First Manhattan Co. bought a new stake in Incyte in the 2nd quarter valued at about $50,000. Hedge funds and other institutional investors own 90.90% of the company’s stock.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Analyst Recommendations for Incyte (NASDAQ:INCY)

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