Incyte (INCY) Earns Buy Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their buy rating on shares of Incyte (NASDAQ:INCY) in a research note issued to investors on Wednesday morning, AnalystRatings.com reports. JPMorgan Chase & Co. currently has a $90.00 price objective on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the company. Goldman Sachs Group upgraded Incyte from a buy rating to a conviction-buy rating in a research report on Tuesday, January 15th. UBS Group downgraded Incyte from a buy rating to a neutral rating and lifted their price objective for the stock from $75.00 to $82.00 in a research report on Wednesday, January 16th. Zacks Investment Research downgraded Incyte from a hold rating to a strong sell rating in a research report on Wednesday, January 23rd. Gabelli upgraded Incyte from a hold rating to a buy rating and set a $105.00 price objective on the stock in a research report on Wednesday, January 23rd. Finally, William Blair upgraded Incyte from a market perform rating to an outperform rating and lifted their price objective for the stock from $85.00 to $100.00 in a research report on Thursday, January 24th. One investment 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 stock. The company currently has a consensus rating of Hold and an average price target of $92.07.

NASDAQ INCY opened at $77.20 on Wednesday. The company has a market capitalization of $16.65 billion, a PE ratio of 94.15 and a beta of 1.31. Incyte has a 1-year low of $57.00 and a 1-year high of $88.83. The company has a current ratio of 5.22, a quick ratio of 5.21 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.29. The business had revenue of $497.86 million for the quarter, compared to the consensus estimate of $488.00 million. Incyte had a return on equity of 13.28% and a net margin of 12.66%. The business’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) earnings per share. On average, research analysts predict that Incyte will post 1.78 earnings per share for the current fiscal year.

In other Incyte news, EVP Paula J. Swain sold 10,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $87.01, for a total transaction of $870,100.00. Following the completion of the sale, the executive vice president now owns 38,295 shares of the company’s stock, valued at $3,332,047.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.10% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Metropolitan Life Insurance Co. NY increased its stake in Incyte by 0.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 34,590 shares of the biopharmaceutical company’s stock worth $2,200,000 after acquiring an additional 120 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Incyte by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,688 shares of the biopharmaceutical company’s stock valued at $489,000 after buying an additional 135 shares in the last quarter. ETF Managers Group LLC grew its stake in shares of Incyte by 9.8% in the first quarter. ETF Managers Group LLC now owns 1,717 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 153 shares in the last quarter. Grandfield & Dodd LLC grew its stake in shares of Incyte by 2.1% in the fourth quarter. Grandfield & Dodd LLC now owns 8,137 shares of the biopharmaceutical company’s stock valued at $517,000 after buying an additional 169 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Incyte by 2.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 7,747 shares of the biopharmaceutical company’s stock valued at $493,000 after buying an additional 180 shares in the last quarter. 92.20% of the stock is owned by institutional investors.

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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