Incyte (NASDAQ:INCY) Earns “Buy” Rating from HC Wainwright

Incyte (NASDAQ:INCY)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $140.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 21.05% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada increased their price target on Incyte from $95.00 to $99.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Incyte in a research report on Monday, June 29th. Citigroup reissued a “market perform” rating on shares of Incyte in a research note on Wednesday, July 15th. UBS Group increased their target price on Incyte from $103.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Finally, Sanford C. Bernstein started coverage on Incyte in a research note on Thursday, May 21st. They issued a “market perform” rating and a $99.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, Incyte currently has an average rating of “Hold” and an average target price of $109.95.

Incyte Trading Down 1.4%

Shares of INCY stock opened at $115.65 on Tuesday. Incyte has a 12-month low of $67.17 and a 12-month high of $119.60. The company has a market capitalization of $23.10 billion, a P/E ratio of 16.33, a P/E/G ratio of 1.06 and a beta of 0.76. The firm has a 50-day moving average price of $105.29 and a 200 day moving average price of $101.16. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.43. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. Research analysts forecast that Incyte will post 6.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INCY. NewEdge Advisors LLC raised its position in shares of Incyte by 369.3% during the first quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock worth $763,000 after acquiring an additional 9,913 shares during the last quarter. Jones Financial Companies Lllp increased its position in Incyte by 15.1% in the first quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock worth $299,000 after purchasing an additional 648 shares during the period. Goldman Sachs Group Inc. raised its holdings in Incyte by 6.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock worth $49,322,000 after purchasing an additional 48,751 shares during the last quarter. United Services Automobile Association bought a new stake in Incyte during the 1st quarter worth about $219,000. Finally, Focus Partners Wealth raised its holdings in Incyte by 74.1% during the 1st quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock worth $1,273,000 after purchasing an additional 8,951 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.