Incyte (NASDAQ:INCY) Upgraded at Guggenheim

Guggenheim upgraded shares of Incyte (NASDAQ:INCY) from a neutral rating to a buy rating in a report published on Monday morning, MarketBeat.com reports. Guggenheim currently has $125.00 price target on the biopharmaceutical company’s stock.

Other research analysts also recently issued reports about the company. Stifel Nicolaus raised their price target on Incyte from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. JPMorgan Chase & Co. increased their price objective on Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a report on Wednesday, October 8th. Wells Fargo & Company upped their price target on shares of Incyte from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Wall Street Zen upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $92.77.

Incyte Stock Performance

Shares of INCY opened at $105.70 on Monday. The stock has a market capitalization of $20.75 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 0.70 and a beta of 0.73. Incyte has a 12 month low of $53.56 and a 12 month high of $106.47. The firm has a fifty day simple moving average of $87.43 and a 200 day simple moving average of $75.80. The company has a current ratio of 3.20, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01.

Insider Activity

In other Incyte news, EVP Lee Heeson sold 3,074 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the sale, the executive vice president owned 29,241 shares of the company’s stock, valued at $2,749,238.82. The trade was a 9.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 3,629 shares of company stock valued at $335,714 over the last three months. Insiders own 17.80% of the company’s stock.

Institutional Trading of Incyte

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Czech National Bank lifted its holdings in Incyte by 6.4% during the 2nd quarter. Czech National Bank now owns 39,271 shares of the biopharmaceutical company’s stock worth $2,674,000 after purchasing an additional 2,378 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Incyte by 0.7% during the first quarter. Principal Financial Group Inc. now owns 213,947 shares of the biopharmaceutical company’s stock valued at $12,954,000 after buying an additional 1,419 shares during the period. Hussman Strategic Advisors Inc. increased its position in shares of Incyte by 20.0% during the second quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the biopharmaceutical company’s stock valued at $4,290,000 after buying an additional 10,500 shares during the period. Amalgamated Bank lifted its holdings in shares of Incyte by 1.9% in the first quarter. Amalgamated Bank now owns 31,551 shares of the biopharmaceutical company’s stock worth $1,910,000 after buying an additional 591 shares in the last quarter. Finally, Poinciana Advisors Group LLC bought a new position in shares of Incyte in the second quarter valued at approximately $229,000. Institutional investors own 96.97% of the company’s stock.

Incyte Company Profile

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.