Incyte (NASDAQ:INCY) Price Target Raised to $60.00 at Deutsche Bank Aktiengesellschaft

Incyte (NASDAQ:INCY) had its price target upped by Deutsche Bank Aktiengesellschaft from $55.00 to $60.00 in a research note released on Thursday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently commented on INCY. Royal Bank of Canada increased their price target on Incyte from $61.00 to $66.00 and gave the company a sector perform rating in a report on Wednesday. Cantor Fitzgerald reiterated a neutral rating on shares of Incyte in a research note on Tuesday, June 18th. JPMorgan Chase & Co. boosted their target price on shares of Incyte from $59.00 to $61.00 and gave the stock a neutral rating in a research report on Wednesday. BMO Capital Markets reaffirmed an underperform rating and issued a $48.00 price target (down from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. Finally, Oppenheimer dropped their price objective on Incyte from $84.00 to $81.00 and set an outperform rating on the stock in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $73.24.

Incyte Stock Down 0.6 %

INCY traded down $0.36 during midday trading on Thursday, hitting $64.06. 683,357 shares of the company’s stock traded hands, compared to its average volume of 2,550,281. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.89 and a quick ratio of 3.43. The company has a market cap of $12.34 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 1.15 and a beta of 0.73. The stock’s fifty day simple moving average is $61.74 and its 200-day simple moving average is $58.80. Incyte has a one year low of $50.27 and a one year high of $70.36.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 EPS. As a group, equities analysts anticipate that Incyte will post 3.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Vijay K. Iyengar sold 15,571 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the completion of the sale, the executive vice president now directly owns 36,701 shares of the company’s stock, valued at $2,569,070. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the transaction, the executive vice president now directly owns 36,701 shares in the company, valued at $2,569,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Barry P. Flannelly sold 19,164 shares of Incyte stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the sale, the executive vice president now owns 66,377 shares of the company’s stock, valued at $3,982,620. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,282 shares of company stock worth $2,876,911. Corporate insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Incyte

Large investors have recently bought and sold shares of the company. Cape Investment Advisory Inc. acquired a new stake in shares of Incyte during the 4th quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new position in Incyte in the 2nd quarter valued at approximately $26,000. Larson Financial Group LLC raised its stake in shares of Incyte by 4,220.0% during the fourth 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 during the last quarter. Redmont Wealth Advisors LLC bought a new position in Incyte during the 1st quarter worth $28,000. Finally, Riverview Trust Co acquired a new stake in shares of Incyte in the first quarter valued at about $29,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

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.