Incyte (NASDAQ:INCY) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of Incyte (NASDAQ:INCY) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a “hold” rating and a $55.00 price target on the biopharmaceutical company’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential downside of 4.03% from the stock’s previous close.

A number of other analysts also recently issued reports on INCY. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. JMP Securities downgraded Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Tuesday, February 6th. Truist Financial reissued a “buy” rating and set a $83.00 price target (down previously from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. Finally, BMO Capital Markets lowered their price target on Incyte from $56.00 to $52.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 1st. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.69.

Incyte Stock Performance

INCY stock opened at $57.31 on Thursday. The business’s 50-day moving average price is $55.09 and its two-hundred day moving average price is $57.70. The company has a current ratio of 3.47, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01. The firm has a market cap of $12.87 billion, a PE ratio of 17.37, a P/E/G ratio of 1.78 and a beta of 0.69. Incyte has a 1-year low of $50.27 and a 1-year high of $67.36.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.31). Incyte had a net margin of 19.78% and a return on equity of 12.83%. The firm had revenue of $880.89 million during the quarter, compared to analyst estimates of $935.85 million. As a group, research analysts forecast that Incyte will post 3.54 earnings per share for the current year.

Hedge Funds Weigh In On Incyte

A number of institutional investors and hedge funds have recently made changes to their positions in INCY. Cape Investment Advisory Inc. bought a new position in Incyte in the 4th quarter valued at about $25,000. Larson Financial Group LLC lifted its position in Incyte by 4,220.0% in the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 422 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in Incyte in the 1st quarter valued at about $28,000. Riverview Trust Co bought a new position in Incyte in the 1st quarter valued at about $29,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Incyte in the 4th quarter valued at about $31,000. Institutional investors own 96.97% of the company’s stock.

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.