Incyte’s (INCY) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Incyte (NASDAQ:INCY) in a research note released on Tuesday morning,Benzinga reports. They currently have a $140.00 price target on the biopharmaceutical company’s stock.

Several other equities analysts have also recently weighed in on the company. UBS Group boosted their price objective on Incyte from $103.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Sanford C. Bernstein started coverage on Incyte in a report on Thursday, May 21st. They issued a “market perform” rating and a $99.00 target price on the stock. Citigroup reaffirmed a “market perform” rating on shares of Incyte in a research report on Wednesday, July 15th. Oppenheimer reiterated a “market perform” rating and set a $107.00 price target on shares of Incyte in a report on Monday, June 8th. Finally, Stifel Nicolaus set a $123.00 price objective on Incyte in a research report on Tuesday, June 9th. Eight investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $111.10.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $116.69 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. The firm has a market cap of $23.31 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 1.05 and a beta of 0.76. The business’s 50-day simple moving average is $106.38 and its 200-day simple moving average is $101.52. Incyte has a 52 week low of $69.69 and a 52 week high of $119.60.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.43. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The company’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 earnings per share. As a group, equities research analysts expect that Incyte will post 6.61 earnings per share for the current fiscal year.

Institutional Trading of Incyte

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its position in Incyte by 369.3% in the first quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock valued at $763,000 after acquiring an additional 9,913 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Incyte by 15.1% in the 1st quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock valued at $299,000 after purchasing an additional 648 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Incyte by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock valued at $49,322,000 after purchasing an additional 48,751 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Incyte in the 1st quarter worth about $219,000. Finally, Focus Partners Wealth grew its holdings in shares of Incyte by 74.1% in the 1st quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock worth $1,273,000 after purchasing an additional 8,951 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.