Incyte (NASDAQ:INCY) PT Lowered to $84.00 at Oppenheimer

Incyte (NASDAQ:INCY - Free Report) had its target price trimmed by Oppenheimer from $92.00 to $84.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the biopharmaceutical company's stock.

Other analysts have also recently issued reports about the company. Citigroup lowered their target price on Incyte from $82.00 to $81.00 and set a buy rating on the stock in a research report on Wednesday, February 14th. BMO Capital Markets raised their target price on shares of Incyte from $58.00 to $64.00 and gave the stock a market perform rating in a report on Wednesday, February 14th. Stifel Nicolaus upped their price objective on shares of Incyte from $67.00 to $68.00 and gave the company a hold rating in a research note on Wednesday, February 14th. Truist Financial reduced their price target on shares of Incyte from $91.00 to $84.00 and set a buy rating for the company in a research report on Wednesday, February 14th. Finally, Cantor Fitzgerald assumed coverage on shares of Incyte in a research note on Tuesday. They issued a neutral rating on the stock. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Incyte presently has an average rating of Moderate Buy and a consensus price target of $75.50.

Incyte Stock Up 0.2 %

Shares of Incyte stock traded up $0.09 during trading hours on Wednesday, hitting $51.74. 1,564,434 shares of the company's stock traded hands, compared to its average volume of 1,724,911. The company has a quick ratio of 3.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.01. Incyte has a twelve month low of $50.27 and a twelve month high of $75.74. The stock has a 50 day simple moving average of $57.18 and a 200-day simple moving average of $57.82. The company has a market cap of $11.62 billion, a PE ratio of 19.49, a PEG ratio of 1.20 and a beta of 0.65.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.09). Incyte had a return on equity of 12.56% and a net margin of 16.17%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the business earned $0.44 earnings per share. Incyte's revenue was up 9.3% on a year-over-year basis. Equities research analysts anticipate that Incyte will post 3.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Incyte

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Incyte in the 4th quarter valued at approximately $123,253,000. LSV Asset Management lifted its position in Incyte by 119.6% during the 4th quarter. LSV Asset Management now owns 2,691,827 shares of the biopharmaceutical company's stock worth $169,020,000 after buying an additional 1,465,792 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Incyte by 2,858.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,025,784 shares of the biopharmaceutical company's stock worth $64,409,000 after buying an additional 991,110 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Incyte by 585.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,145,362 shares of the biopharmaceutical company's stock worth $66,168,000 after purchasing an additional 978,342 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Incyte by 56.6% in the third quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company's stock valued at $155,053,000 after acquiring an additional 970,668 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

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.