Incyte (NASDAQ:INCY) Downgraded to “Neutral” Rating by Guggenheim

Guggenheim downgraded shares of Incyte (NASDAQ:INCY) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, MarketBeat.com reports. Guggenheim currently has $92.00 price objective on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Wells Fargo & Company lifted their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Citigroup lowered their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, Stifel Nicolaus boosted their price target on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Incyte presently has a consensus rating of “Hold” and a consensus target price of $75.13.

Incyte Trading Up 0.4 %

Shares of INCY opened at $60.58 on Tuesday. The business’s 50-day moving average price is $70.78 and its 200-day moving average price is $70.13. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Incyte has a twelve month low of $50.35 and a twelve month high of $83.95. The stock has a market cap of $11.72 billion, a PE ratio of 224.38, a P/E/G ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last posted its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, equities analysts forecast that Incyte will post 4.86 EPS for the current fiscal year.

Insider Transactions at Incyte

In related news, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the transaction, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $1,914,561.36. The trade was a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,827 shares of company stock worth $3,322,618. Company insiders own 17.60% of the company’s stock.

Institutional Trading of Incyte

Large investors have recently modified their holdings of the business. Quintet Private Bank Europe S.A. bought a new position in Incyte in the 4th quarter worth $26,000. Global X Japan Co. Ltd. raised its stake in Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Incyte in the third quarter worth about $30,000. R Squared Ltd purchased a new stake in Incyte in the fourth quarter worth about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Incyte during the 3rd quarter valued at approximately $33,000. 96.97% of the stock is owned by institutional investors.

About Incyte

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.