Incyte (INCY) Rating Lowered to Equal Weight at Barclays

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Incyte (NASDAQ:INCY) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Friday, Briefing.com Automated Import reports. They presently have a $82.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $90.00. Barclays‘s target price points to a potential upside of 1.31% from the company’s previous close.

Several other equities research analysts have also commented on INCY. Zacks Investment Research lowered shares of Incyte from a “strong-buy” rating to a “hold” rating in a research note on Monday. BidaskClub lowered shares of Incyte from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 24th. Stifel Nicolaus began coverage on shares of Incyte in a research note on Wednesday, April 10th. They set a “hold” rating and a $82.00 price objective on the stock. JPMorgan Chase & Co. reissued a “buy” rating on shares of Incyte in a research note on Tuesday. Finally, Royal Bank of Canada lowered shares of Incyte from an “outperform” rating to a “sector perform” rating and set a $89.00 price objective on the stock. in a research note on Wednesday, April 3rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $91.32.

Shares of INCY opened at $80.94 on Friday. The stock has a market cap of $16.46 billion, a PE ratio of 98.71 and a beta of 1.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.29 and a current ratio of 5.30. Incyte has a 1-year low of $57.00 and a 1-year high of $88.83.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.29. The firm had revenue of $497.86 million for the quarter, compared to analyst estimates of $488.00 million. Incyte had a net margin of 12.66% and a return on equity of 13.28%. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) EPS. Research analysts expect that Incyte will post 1.44 EPS for the current year.

In other news, EVP Paula J. Swain sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $86.68, for a total value of $866,800.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 17.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of INCY. Dimensional Fund Advisors LP lifted its stake in shares of Incyte by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 287,924 shares of the biopharmaceutical company’s stock worth $19,889,000 after buying an additional 864 shares in the last quarter. Man Group plc lifted its stake in shares of Incyte by 167.5% in the third quarter. Man Group plc now owns 36,635 shares of the biopharmaceutical company’s stock worth $2,531,000 after buying an additional 22,938 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Incyte by 33.3% in the third quarter. Advisors Asset Management Inc. now owns 4,237 shares of the biopharmaceutical company’s stock worth $293,000 after buying an additional 1,058 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Incyte by 18.7% in the third quarter. Nordea Investment Management AB now owns 10,188 shares of the biopharmaceutical company’s stock worth $703,000 after buying an additional 1,607 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Incyte by 3.3% in the third quarter. Legal & General Group Plc now owns 777,438 shares of the biopharmaceutical company’s stock worth $53,706,000 after buying an additional 25,136 shares in the last quarter. Hedge funds and other institutional investors own 91.26% of the company’s stock.

Incyte Company Profile

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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