BMO Capital Markets Lowers Incyte (NASDAQ:INCY) Price Target to $52.00

Incyte (NASDAQ:INCY) had its price objective reduced by investment analysts at BMO Capital Markets from $56.00 to $52.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “market perform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective would indicate a potential downside of 2.05% from the stock’s current price.

INCY has been the topic of a number of other reports. William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Oppenheimer lowered their price objective on Incyte from $92.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Stifel Nicolaus boosted their price objective on Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. JMP Securities cut Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $65.00 price objective on shares of Incyte in a research note on Monday, March 25th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.93.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $53.09 on Wednesday. The company has a current ratio of 3.47, a quick ratio of 3.36 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $56.23 and its two-hundred day simple moving average is $57.58. Incyte has a 1-year low of $50.27 and a 1-year high of $69.82. The stock has a market cap of $11.92 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 1.24 and a beta of 0.69.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.09). Incyte had a net margin of 19.78% and a return on equity of 12.83%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the business posted $0.44 earnings per share. Incyte’s revenue was up 9.3% on a year-over-year basis. As a group, analysts forecast that Incyte will post 3.81 EPS for the current fiscal year.

Institutional Trading of Incyte

Large investors have recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. bought a new position in shares of Incyte during the 4th quarter valued at approximately $25,000. Larson Financial Group LLC increased its position in shares of Incyte by 4,220.0% during the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 422 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Incyte during the 1st quarter valued at approximately $28,000. Riverview Trust Co bought a new position in shares of Incyte during the 1st quarter valued at approximately $29,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Incyte during the 4th quarter valued at approximately $31,000. Institutional investors own 96.97% of the company’s stock.

Incyte Company Profile

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.