Incyte (NASDAQ:INCY) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Wednesday, BidAskClub reports.

INCY has been the topic of several other research reports. Royal Bank of Canada lifted their target price on Incyte to $89.00 and gave the company an “outperform” rating in a research report on Friday, February 15th. Stifel Nicolaus assumed coverage on Incyte in a research report on Wednesday, April 10th. They set a “hold” rating and a $82.00 target price on the stock. Argus lifted their target price on Incyte from $83.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, February 25th. William Blair raised Incyte from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $85.00 to $100.00 in a research report on Thursday, January 24th. Finally, Barclays reaffirmed a “buy” rating and set a $90.00 target price on shares of Incyte in a research report on Sunday, April 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Incyte currently has a consensus rating of “Buy” and an average price target of $91.82.

Shares of Incyte stock opened at $75.41 on Wednesday. The company has a quick ratio of 4.29, a current ratio of 4.31 and a debt-to-equity ratio of 0.01. Incyte has a 52 week low of $57.00 and a 52 week high of $88.83. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of 91.96 and a beta of 1.39.

Incyte (NASDAQ:INCY) last announced its earnings results on Thursday, February 14th. The biopharmaceutical company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.15. The company had revenue of $528.40 million for the quarter, compared to analysts’ expectations of $485.72 million. Incyte had a return on equity of 6.17% and a net margin of 5.82%. Incyte’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 earnings per share. As a group, research analysts predict that Incyte will post 1.4 EPS for the current year.

In related news, EVP Barry P. Flannelly sold 1,000 shares of Incyte stock in a transaction on Monday, January 28th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Paula J. Swain sold 10,000 shares of Incyte stock in a transaction on Monday, April 1st. The stock was sold at an average price of $87.01, for a total value of $870,100.00. Following the sale, the executive vice president now owns 38,295 shares in the company, valued at $3,332,047.95. The disclosure for this sale can be found here. Insiders have sold 31,000 shares of company stock worth $2,628,800 over the last quarter. 17.10% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY lifted its holdings in Incyte by 0.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 34,590 shares of the biopharmaceutical company’s stock worth $2,200,000 after acquiring an additional 120 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Incyte by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,688 shares of the biopharmaceutical company’s stock worth $489,000 after acquiring an additional 135 shares during the period. Grandfield & Dodd LLC lifted its holdings in Incyte by 2.1% during the fourth quarter. Grandfield & Dodd LLC now owns 8,137 shares of the biopharmaceutical company’s stock worth $517,000 after acquiring an additional 169 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Incyte by 2.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 7,747 shares of the biopharmaceutical company’s stock worth $493,000 after acquiring an additional 180 shares during the period. Finally, ETF Managers Group LLC lifted its holdings in Incyte by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 1,564 shares of the biopharmaceutical company’s stock worth $99,000 after acquiring an additional 213 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

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.

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Analyst Recommendations for Incyte (NASDAQ:INCY)

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