Incyte (NASDAQ:INCY) Upgraded at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Incyte (NASDAQ:INCY) from a hold rating to a buy rating in a report released on Monday, Marketbeat.com reports. Stifel Nicolaus currently has $107.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $75.00.

Other equities analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 30th. Citigroup reissued a “buy” rating on shares of Incyte in a research report on Tuesday, June 3rd. Wells Fargo & Company raised their price target on Incyte from $58.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. Morgan Stanley dropped their price objective on Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Incyte from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $74.53.

Incyte Stock Down 0.8%

Shares of Incyte stock opened at $68.27 on Monday. The firm has a market cap of $13.22 billion, a PE ratio of 213.35, a P/E/G ratio of 0.58 and a beta of 0.67. The business’s 50 day simple moving average is $62.97 and its 200 day simple moving average is $66.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.00 and a current ratio of 2.04. Incyte has a 52-week low of $53.56 and a 52-week high of $83.95.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. Incyte had a net margin of 0.48% and a return on equity of 2.77%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $996.17 million. During the same period last year, the company earned $0.64 earnings per share. The firm’s revenue was up 19.5% compared to the same quarter last year. On average, analysts predict that Incyte will post 4.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Incyte

Several hedge funds have recently bought and sold shares of INCY. Quintet Private Bank Europe S.A. bought a new position in shares of Incyte during the fourth quarter worth approximately $26,000. Banque Transatlantique SA bought a new position in Incyte during the 1st quarter worth $26,000. Raiffeisen Bank International AG bought a new position in Incyte during the 4th quarter worth $34,000. SVB Wealth LLC bought a new stake in shares of Incyte in the first quarter valued at about $39,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Incyte in the fourth quarter valued at about $42,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

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.