Weekly Investment Analysts’ Ratings Changes for Incyte (INCY)

Incyte (NASDAQ: INCY) recently received a number of ratings updates from brokerages and research firms:

• 12/19/2024 – Incyte had its price target raised by analysts at Wells Fargo & Company from $68.00 to $70.00. They now have an “equal weight” rating on the stock.
• 12/17/2024 – Incyte is now covered by analysts at UBS Group AG. They set a “neutral” rating and a $77.00 price target on the stock.
• 12/13/2024 – Incyte had its “outperform” rating reaffirmed by analysts at William Blair.
• 12/13/2024 – Incyte was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 11/28/2024 – Incyte was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 11/20/2024 – Incyte was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 11/19/2024 – Incyte had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald.
• 11/14/2024 – Incyte had its price target raised by analysts at Royal Bank of Canada from $72.00 to $80.00. They now have a “sector perform” rating on the stock.

Incyte Price Performance

INCY traded up $0.10 during trading on Friday, reaching $69.63. 1,542,670 shares of the company traded hands, compared to its average volume of 1,302,235. The company has a market cap of $13.41 billion, a P/E ratio of 497.39, a PEG ratio of 7.90 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The firm has a fifty day simple moving average of $73.07 and a 200 day simple moving average of $67.16.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. On average, equities analysts forecast that Incyte Co. will post 0.4 EPS for the current year.

Insider Buying and Selling at Incyte

In related news, insider Thomas Tray sold 650 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the sale, the insider now owns 23,962 shares in the company, valued at approximately $1,692,675.68. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,023 shares of company stock worth $839,711 over the last 90 days. 17.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its position in shares of Incyte by 28.0% during the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after buying an additional 779,243 shares in the last quarter. LSV Asset Management lifted its stake in Incyte by 0.5% in the second quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock worth $167,911,000 after acquiring an additional 15,115 shares during the period. Pacer Advisors Inc. grew its holdings in Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after acquiring an additional 2,676,851 shares in the last quarter. AQR Capital Management LLC increased its position in Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after purchasing an additional 1,101,041 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Incyte in the 3rd quarter valued at about $156,611,000. 96.97% of the stock is currently owned by institutional investors.

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.