Incyte (NASDAQ:INCY) receives new price target of $76.00 from Morgan Stanley


Incyte (NASDAQ:INCY – Get an assessment) saw its target price raised by Morgan Stanley from $73.00 to $76.00 in a report on Wednesday, Benzinga reports. The company currently has an “equal weight” rating on shares of the biopharmaceutical company. Morgan Stanley’s price target points to a potential decline of 3.89% from the company’s previous close.

INCY has been the subject of a number of other reports. StockNews.com began covering Incyte shares in a report on Thursday, March 31. They issued a “Strong Buy” rating for the company. TheStreet upgraded Incyte’s shares from a “c+” rating to a “b” rating in a report released on Monday. Guggenheim cut its price target on Incyte shares from $118.00 to $104.00 in a Monday, Jan. 3, report. SVB Leerink downgraded Incyte from a “market performing” rating to an “underperforming” rating and lowered its target price for the company from $60.00 to $56.00 in a Wednesday research report February 9. Finally, Zacks Investment Research upgraded Incyte’s shares from a “sell” rating to a “hold” rating and set a price target of $85.00 on the stock in a report on Tuesday 5 april. One equity research analyst gave the stock a sell rating, four gave the company a hold rating, six gave the company a buy rating and one gave the company a strong buy rating. Based on MarketBeat data, Incyte currently has an average rating of “Buy” and an average target price of $87.82.

The NASDAQ INCY lost $0.39 on Wednesday, hitting $79.08. 18,001 shares were traded, against an average volume of 1,738,124. The company has a market capitalization of $17.50 billion, a P/E ratio of 18.52, a P/E/G ratio of 0, 90 and a beta of 0.73. Incyte has a 52-week low of $61.91 and a 52-week high of $88.26. The company has a debt ratio of 0.01, a quick ratio of 3.62 and a current ratio of 3.65. The stock has a fifty-day moving average price of $74.51 and a two-hundred-day moving average price of $71.12.

Incyte (NASDAQ:INCY – Get Rating) last released its quarterly earnings data on Tuesday, February 8. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.65 per ($0.72). The company posted revenue of $862.50 million in the quarter, versus a consensus estimate of $813.38 million. Incyte had a net margin of 31.76% and a return on equity of 14.66%. The company’s revenues increased by 9.4% compared to the same quarter last year. In the same quarter a year earlier, the company earned earnings per share of $0.73. Sell-side analysts expect Incyte to post earnings per share of 2.52 for the current fiscal year.

In related news, Executive Vice President Jonathan Elliott Dickinson sold 7,375 shares in a trade that took place on Monday, January 31. The stock was sold at an average price of $74.19, for a total value of $547,151.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Executive Vice President Barry P. Flannelly sold 43,993 shares in a trade on Friday, April 8. The stock was sold at an average price of $83.49, for a total value of $3,672,975.57. Following the sale, the executive vice president now owns 65,163 shares of the company, valued at $5,440,458.87. The disclosure of this sale can be found here. Over the past ninety days, insiders have purchased 711,335 shares of the company valued at $49,689,821. Insiders of the company hold 15.80% of the shares of the company.

Several large investors have recently bought and sold INCY shares. Dark Forest Capital Management LP acquired a new stake in Incyte stock in the third quarter valued at approximately $33,000. AlphaMark Advisors LLC purchased a new stake in Incyte during Q4 worth approximately $35,000. Glassman Wealth Services increased its equity stake in Incyte by 52.1% during the 4th quarter. Glassman Wealth Services now owns 502 shares of the biopharmaceutical company worth $37,000 after buying 172 additional shares in the last quarter. Desjardins Global Asset Management Inc. acquired a new position in Incyte stock during Q4 worth approximately $43,000. Finally, National Bank of Canada FI acquired a new position in shares of Incyte during the 4th quarter for a value of approximately $44,000. Institutional investors hold 91.33% of the company’s shares.

Incyte Company Profile (Get an assessment)

Incyte Corporation, a biopharmaceutical company, is focused on the discovery, development and commercialization of proprietary therapeutic products in the United States and around the world. The company offers JAKAFI, a medicine for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that acts as an oncogenic inducer in various types of liquid and solid tumors; 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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Eleanor C. William