Incyte (NASDAQ:INCY) Receives "Neutral" Rating from UBS Group

Incyte (NASDAQ:INCY - Get Free Report)'s stock had its "neutral" rating reissued by investment analysts at UBS Group in a research report issued on Tuesday,Benzinga reports. They presently have a $61.00 price target on the biopharmaceutical company's stock. UBS Group's price objective indicates a potential downside of 11.30% from the stock's previous close.

Other equities analysts have also recently issued reports about the stock. Truist Financial lifted their price target on shares of Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a research report on Tuesday, May 27th. William Blair downgraded Incyte from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 18th. Royal Bank of Canada boosted their price objective on Incyte from $64.00 to $67.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 30th. Guggenheim cut Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price objective for the company. in a research report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. decreased their price objective on Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Incyte presently has a consensus rating of "Hold" and an average target price of $72.53.

Incyte Trading Up 2.3%

Shares of NASDAQ:INCY traded up $1.53 during trading on Tuesday, hitting $68.77. 1,647,247 shares of the company's stock were exchanged, compared to its average volume of 2,233,032. The firm has a 50-day moving average price of $61.28 and a two-hundred day moving average price of $67.21. Incyte has a 1-year low of $53.56 and a 1-year high of $83.95. The firm has a market cap of $13.31 billion, a P/E ratio of 254.71, a PEG ratio of 0.41 and a beta of 0.68. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.15. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm's quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 EPS. Equities analysts predict that Incyte will post 4.86 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 19,807 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now owns 33,567 shares of the company's stock, valued at approximately $2,272,150.23. The trade was a 37.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.80% of the company's stock.

Institutional Investors Weigh In On Incyte

A number of hedge funds have recently made changes to their positions in INCY. Inspire Investing LLC boosted its position in Incyte by 11.7% in the first quarter. Inspire Investing LLC now owns 23,052 shares of the biopharmaceutical company's stock valued at $1,396,000 after buying an additional 2,411 shares in the last quarter. Invst LLC acquired a new stake in shares of Incyte during the first quarter valued at about $315,000. Strs Ohio acquired a new position in shares of Incyte in the first quarter valued at approximately $2,064,000. Jacobi Capital Management LLC raised its holdings in Incyte by 5.8% in the 1st quarter. Jacobi Capital Management LLC now owns 11,573 shares of the biopharmaceutical company's stock valued at $701,000 after buying an additional 636 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Incyte by 65.6% during the 1st quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company's stock worth $152,062,000 after buying an additional 994,609 shares during the period. 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.