Incyte (NASDAQ:INCY) Stock Rating Reaffirmed by Cowen

Cowen reiterated their buy rating on shares of Incyte (NASDAQ:INCY) in a research report released on Monday, AnalystRatings.com reports.

A number of other research firms also recently commented on INCY. Cantor Fitzgerald reduced their price objective on shares of Incyte from $75.00 to $65.00 and set a neutral rating on the stock in a research note on Friday, January 3rd. ValuEngine upgraded shares of Incyte from a sell rating to a hold rating in a research note on Saturday, January 4th. Mizuho downgraded shares of Incyte from a buy rating to a neutral rating and reduced their price objective for the company from $98.00 to $79.00 in a research note on Thursday, January 2nd. Credit Suisse Group reduced their price objective on shares of Incyte from $90.00 to $86.00 and set a neutral rating on the stock in a research note on Friday, January 3rd. Finally, BidaskClub downgraded shares of Incyte from a hold rating to a sell rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the stock. Incyte presently has a consensus rating of Hold and a consensus price target of $91.54.

NASDAQ INCY opened at $80.54 on Monday. Incyte has a 12 month low of $72.00 and a 12 month high of $96.79. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.02 and a quick ratio of 5.01. The company has a market capitalization of $17.55 billion, a price-to-earnings ratio of 98.22, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The company’s fifty day moving average price is $88.16 and its two-hundred day moving average price is $82.98.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.27. Incyte had a net margin of 19.21% and a return on equity of 20.07%. The firm had revenue of $551.58 million for the quarter, compared to the consensus estimate of $534.73 million. During the same period in the prior year, the firm posted $0.41 EPS. The firm’s revenue was up 22.7% compared to the same quarter last year. As a group, analysts anticipate that Incyte will post 2.14 EPS for the current year.

In related news, EVP Paula J. Swain sold 2,500 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $91.61, for a total value of $229,025.00. Following the sale, the executive vice president now owns 44,112 shares of the company’s stock, valued at approximately $4,041,100.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Yao Wenqing sold 2,040 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $85.00, for a total transaction of $173,400.00. Following the completion of the sale, the executive vice president now directly owns 47,348 shares in the company, valued at approximately $4,024,580. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,436 shares of company stock worth $11,391,310. Insiders own 17.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. CSat Investment Advisory L.P. increased its holdings in shares of Incyte by 180.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 676 shares of the biopharmaceutical company’s stock worth $58,000 after acquiring an additional 435 shares during the period. AQR Capital Management LLC increased its stake in Incyte by 18.1% during the 2nd quarter. AQR Capital Management LLC now owns 995,804 shares of the biopharmaceutical company’s stock valued at $83,548,000 after buying an additional 152,553 shares during the period. Morgan Stanley increased its stake in Incyte by 5.3% during the 2nd quarter. Morgan Stanley now owns 362,610 shares of the biopharmaceutical company’s stock valued at $30,806,000 after buying an additional 18,193 shares during the period. Envestnet Asset Management Inc. increased its stake in Incyte by 46.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 13,256 shares of the biopharmaceutical company’s stock valued at $984,000 after buying an additional 4,177 shares during the period. Finally, California State Teachers Retirement System increased its stake in Incyte by 2.4% during the 2nd quarter. California State Teachers Retirement System now owns 291,393 shares of the biopharmaceutical company’s stock valued at $24,757,000 after buying an additional 6,874 shares during the period. 90.90% of the stock is currently owned by institutional investors and hedge funds.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

See Also: What is an overbought condition?

Analyst Recommendations for Incyte (NASDAQ:INCY)

Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.