Morgan Stanley lowers its price target (NASDAQ: INCY) to $ 85.00
Incyte (NASDAQ: INCY) saw its price target lowered by Morgan Stanley investment analysts from $ 86.00 to $ 85.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an âequal weightâ rating on the shares of the biopharmaceutical company. Morgan Stanley’s price target points to a potential rise of 4.44% from the current share price.
Several other equity analysts have also weighed on INCY recently. TheStreet downgraded Incyte’s shares from a âb-â rating to a âcâ rating in a research note on Monday March 15th. SVB Leerink downgraded Incyte’s shares from a âmarket performanceâ rating to an âunderperformanceâ rating and reduced their target share price from $ 89.00 to $ 70.00 in a research note Wednesday, February 10. A stock research analyst rated the stock with a sell rating, eight assigned a sustaining rating, and eight issued a buy rating on the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $ 99.50.
NASDAQ INCY shares opened at $ 81.39 on Tuesday. The company has a debt to equity ratio of 0.01, a quick ratio of 3.53, and a current ratio of 3.56. The company’s 50-day simple moving average is $ 82.58 and its 200-day simple moving average is $ 84.82. The stock has a market cap of $ 17.90 billion, a price-to-earnings ratio of -51.84, a PEG ratio of 0.98, and a beta of 0.96. Incyte has a 52 week low of $ 75.52 and a 52 week high of $ 110.36.
Incyte (NASDAQ: INCY) last released its quarterly earnings data on Tuesday, May 4. The biopharmaceutical company reported EPS of $ 0.67 for the quarter, beating the consensus estimate of $ 0.42 by $ 0.25. The company posted revenue of $ 604.72 million in the quarter, compared to the consensus estimate of $ 657.73 million. Incyte posted a negative return on equity of 13.66% and a negative net margin of 13.62%. The company’s quarterly revenue increased 6.4% compared to the same quarter last year. During the same period of the previous year, the company posted earnings per share ($ 2.86). On average, sell-side analysts predict that Incyte will post -1.45 EPS for the current year.
In other Incyte news, executive vice president Michael James Morrissey sold 20,000 shares in a trade on Monday, March 29. The stock was sold for an average price of $ 81.08, for a total value of $ 1,621,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via the SEC website. In addition, the Dashyant Dhanak EVP sold 396 shares of the stock in a trade on Thursday, April 1. The stock was sold for an average price of $ 81.57, for a total value of $ 32,301.72. Disclosure of this sale can be found here. Company insiders own 16.10% of the company’s shares.
A number of institutional investors and hedge funds have recently bought and sold shares of INCY. Benjamin F. Edwards & Company Inc. increased its holdings of Incyte shares by 49.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 383 shares of the biopharmaceutical company valued at $ 33,000 after acquiring 127 additional shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings of Incyte shares by 1,366.7% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 440 shares of the biopharmaceutical company valued at $ 36,000 after acquiring 410 additional shares in the last quarter. Bessemer Group Inc. increased its holdings of Incyte shares by 121.0% in the fourth quarter. Bessemer Group Inc. now owns 431 shares of the biopharmaceutical company valued at $ 37,000 after acquiring 236 additional shares during the last quarter. Compagnie Lombard Odier SCmA increased its stake in Incyte shares by 156.0% during the first quarter. Compagnie Lombard Odier SCmA now owns 640 shares of the biopharmaceutical company valued at $ 52,000 after acquiring 390 additional shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings of Incyte shares by 74.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 614 shares of the biopharmaceutical company valued at $ 53,000 after acquiring 263 additional shares in the last quarter. Institutional investors and hedge funds hold 91.37% of the company’s shares.
Incyte Corporation, a biopharmaceutical company, is focused on the discovery, development and commercialization of proprietary therapeutics in the United States and around the world. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor for the treatment of adults; and ICLUSIG, a kinase inhibitor for treating chronic myeloid leukemia and Philadelphia chromosome positive acute lymphoblastic leukemia.
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