Incyte (NASDAQ:INCY) Shares Down 6%

Incyte Co. (NASDAQ:INCYGet Rating) shares traded down 6% during mid-day trading on Tuesday . The stock traded as low as $72.02 and last traded at $72.74. 19,666 shares were traded during mid-day trading, a decline of 99% from the average session volume of 1,531,317 shares. The stock had previously closed at $77.40.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com raised Incyte from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Wells Fargo & Company started coverage on Incyte in a report on Thursday, July 28th. They issued an “equal weight” rating and a $76.00 price objective for the company. Oppenheimer reduced their price objective on Incyte from $109.00 to $98.00 in a report on Wednesday. Guggenheim downgraded Incyte from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, Evercore ISI downgraded Incyte from an “outperform” rating to an “inline” rating and reduced their price objective for the stock from $90.00 to $78.00 in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Incyte presently has a consensus rating of “Moderate Buy” and an average price target of $84.92.

Incyte Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.67 and a current ratio of 3.71. The stock has a market capitalization of $16.07 billion, a PE ratio of 17.27, a PEG ratio of 0.93 and a beta of 0.64. The stock has a 50-day moving average price of $76.35 and a two-hundred day moving average price of $75.25.

Incyte (NASDAQ:INCYGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.22. Incyte had a return on equity of 12.77% and a net margin of 29.95%. The firm had revenue of $911.40 million for the quarter, compared to analysts’ expectations of $818.25 million. During the same period in the previous year, the firm earned $0.65 EPS. The business’s quarterly revenue was up 29.1% on a year-over-year basis. As a group, equities analysts forecast that Incyte Co. will post 2.31 earnings per share for the current year.

Insider Activity

In related news, insider Thomas Tray sold 1,564 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $83.13, for a total value of $130,015.32. Following the transaction, the insider now directly owns 17,702 shares of the company’s stock, valued at approximately $1,471,567.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Vijay K. Iyengar sold 5,787 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $79.38, for a total value of $459,372.06. Following the transaction, the executive vice president now directly owns 40,313 shares of the company’s stock, valued at approximately $3,200,045.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas Tray sold 1,564 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $83.13, for a total value of $130,015.32. Following the completion of the transaction, the insider now directly owns 17,702 shares in the company, valued at $1,471,567.26. The disclosure for this sale can be found here. Insiders own 15.80% of the company’s stock.

Institutional Trading of Incyte

Hedge funds have recently modified their holdings of the company. Fiera Capital Corp purchased a new stake in shares of Incyte during the 4th quarter worth approximately $653,000. Diversified Trust Co raised its holdings in shares of Incyte by 96.8% during the 1st quarter. Diversified Trust Co now owns 5,723 shares of the biopharmaceutical company’s stock worth $455,000 after acquiring an additional 2,815 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Incyte during the 4th quarter worth approximately $44,000. State of Michigan Retirement System raised its holdings in shares of Incyte by 0.3% during the 1st quarter. State of Michigan Retirement System now owns 47,459 shares of the biopharmaceutical company’s stock worth $3,769,000 after acquiring an additional 155 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of Incyte by 30.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 21,033 shares of the biopharmaceutical company’s stock worth $1,544,000 after acquiring an additional 4,961 shares in the last quarter. 92.78% of the stock is owned by hedge funds and other institutional investors.

Incyte Company Profile

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Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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