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.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on INCY. Morgan Stanley lowered their target price on shares of Incyte from $77.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 3rd. Stifel Nicolaus upped their price target on Incyte from $75.00 to $77.00 in a research report on Tuesday, May 3rd. Wells Fargo & Company assumed coverage on Incyte in a research report on Thursday, July 28th. They set an "equal weight" rating and a $76.00 price objective on the stock. StockNews.com downgraded Incyte from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 11th. Finally, TheStreet raised shares of Incyte from a "c" rating to a "b" rating in a research report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $84.92.

Incyte Trading Down 0.4 %

Shares of NASDAQ:INCY traded down $0.32 during mid-day trading on Tuesday, reaching $74.96. 1,062,560 shares of the company were exchanged, compared to its average volume of 1,585,883. Incyte has a 1 year low of $61.91 and a 1 year high of $84.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.91 and a quick ratio of 3.85. The firm's 50-day simple moving average is $76.05 and its 200 day simple moving average is $75.22. The firm has a market cap of $16.67 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 1.20 and a beta of 0.64.

Incyte (NASDAQ:INCY - Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.22. Incyte had a return on equity of 13.02% and a net margin of 28.46%. The business had revenue of $911.40 million during the quarter, compared to analysts' expectations of $818.25 million. During the same period in the previous year, the firm posted $0.65 earnings per share. The company's revenue was up 29.1% on a year-over-year basis. Equities research analysts forecast that Incyte will post 2.46 EPS for the current year.

Insiders Place Their Bets

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