Incyte - INCY Stock Forecast, Price & News

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia. Its clinical stage products include ruxolitinib, a steroid-refractory chronic graft-versus-host-diseases (GVHD); itacitinib, which is in Phase II/III clinical trial to treat naïve chronic GVHD; and pemigatinib for treating bladder cancer, cholangiocarcinoma, myeloproliferative syndrome, and tumor agnostic. In addition, the company engages in developing Parsaclisib, which is in Phase II clinical trial for follicular lymphoma, marginal zone lymphoma, and mantel cell lymphoma. Additionally, it develops Retifanlimab that is in Phase II clinical trials for MSI-high endometrial cancer, merkel cell carcinoma, and anal cancer, as well as in Phase II clinical trials for patients with non-small cell lung cancer. It has collaboration agreements with Novartis International Pharmaceutical Ltd.; Eli Lilly and Company; Agenus Inc.; Calithera Biosciences, Inc; MacroGenics, Inc.; Merus N.V.; Syros Pharmaceuticals, Inc.; Innovent Biologics, Inc.; Zai Lab Limited; Cellenkos, Inc.; and Nimble Therapeutics, as well as clinical collaborations with MorphoSys AG and Xencor, Inc. to investigate the combination of tafasitamab, plamotamab, and lenalidomide in patients with relapsed or refractory diffuse large B-cell lymphoma, and relapsed or refractory follicular lymphoma. The company was incorporated in 1991 and is headquartered in Wilmington, Delaware.

Incyte Stock Down 1.5 %

INCY traded down $1.10 during midday trading on Wednesday, hitting $73.86. 797,563 shares of the company's stock traded hands, compared to its average volume of 1,580,862. The company has a market cap of $16.43 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.22 and a beta of 0.64. The stock's fifty day simple moving average is $76.05 and its 200-day simple moving average is $75.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.91 and a quick ratio of 3.85. Incyte has a one year low of $61.91 and a one year high of $84.86.

Incyte (NASDAQ:INCY - Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.79 by $0.22. Incyte had a return on equity of 13.02% and a net margin of 28.46%. The company had revenue of $911.40 million for the quarter, compared to the consensus estimate of $818.25 million. During the same quarter last year, the company posted $0.65 earnings per share. The company's revenue for the quarter was up 29.1% compared to the same quarter last year. As a group, equities analysts anticipate that Incyte will post 2.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INCY has been the subject of several research analyst reports. Guggenheim cut Incyte to a "neutral" rating in a research note on Tuesday, August 9th. Stifel Nicolaus boosted their price target on Incyte from $75.00 to $77.00 in a research report on Tuesday, May 3rd. TheStreet upgraded shares of Incyte from a "c" rating to a "b" rating in a research report on Tuesday, August 2nd. StockNews.com lowered shares of Incyte from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 11th. Finally, Evercore ISI downgraded shares of Incyte from an "outperform" rating to an "inline" rating and reduced their price objective for the stock from $90.00 to $78.00 in a research report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $84.92.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 5,787 shares of the stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $79.38, for a total transaction of $459,372.06. Following the transaction, the executive vice president now owns 40,313 shares in the company, valued at $3,200,045.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Incyte news, insider Thomas Tray sold 1,564 shares of Incyte stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $83.13, for a total transaction of $130,015.32. Following the sale, the insider now owns 17,702 shares in the company, valued at $1,471,567.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vijay K. Iyengar sold 5,787 shares of Incyte stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $79.38, for a total transaction of $459,372.06. Following the transaction, the executive vice president now directly owns 40,313 shares of the company's stock, valued at $3,200,045.94. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company's stock.