Analysts’ Weekly Ratings Updates for Incyte (INCY)

Incyte (NASDAQ: INCY) has recently received a number of price target changes and ratings updates:

  • 2/1/2018 – Incyte had its “buy” rating reaffirmed by analysts at Nomura.
  • 2/1/2018 – Incyte was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 1/26/2018 – Incyte was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 1/22/2018 – Incyte had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $110.00 price target on the stock, down previously from $120.00.
  • 1/16/2018 – Incyte was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 1/3/2018 – Incyte had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $172.00 price target on the stock.
  • 1/2/2018 – Incyte was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Incyte’s dependence on only Jakafi, for growth is concerning. Lower-than-expected sales would be a huge setback for the company. While we are positive on the company’s efforts to expand Jakafi’s label, any development/regulatory setback could pull down the stock significantly. In addition, Jakafi could face competition from generics. Meanwhile, the oncology market is attracting a lot of attention with several companies inking deals to tap into this high revenue-potential market. Sooner-than-expected entry of generic versions of Jakafi would be a big blow for the company. Though we are pleased with Incyte’s broad pipeline, we note that most candidates are in the mid and early stages of development. Shares have underperformed the industry in the last twelve months.”
  • 1/2/2018 – Incyte had its “market perform” rating reaffirmed by analysts at Citigroup Inc. They now have a $120.00 price target on the stock, down previously from $135.00.
  • 1/2/2018 – Incyte was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating. They now have a $136.00 price target on the stock.
  • 1/2/2018 – Incyte was given a new $120.00 price target on by analysts at Oppenheimer Holdings Inc.. They now have a “hold” rating on the stock.

Incyte Co. (NASDAQ INCY) opened at $84.50 on Monday. The company has a market cap of $17,832.65, a PE ratio of -105.63 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.81 and a current ratio of 4.82. Incyte Co. has a one year low of $80.85 and a one year high of $153.15.

In other news, Director Paul A. Friedman sold 28,507 shares of Incyte stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $105.24, for a total value of $3,000,076.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David W. Gryska sold 6,760 shares of Incyte stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $98.87, for a total transaction of $668,361.20. Following the completion of the transaction, the insider now owns 20,752 shares of the company’s stock, valued at approximately $2,051,750.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,963 shares of company stock valued at $4,222,953. Corporate insiders own 17.70% of the company’s stock.

Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).

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