Incyte (NASDAQ:INCY) Share Price May Be About to Change Direction; Morgan Stanley Downgrades Them

July 13, 2018 - By Patrick Harkless

Incyte Corporation (NASDAQ:INCY) Logo

Investors sentiment increased to 1.22 in 2018 Q1. Its up 0.16, from 1.06 in 2017Q4. It is positive, as 45 investors sold Incyte Corporation shares while 131 reduced holdings. 57 funds opened positions while 157 raised stakes. 190.28 million shares or 0.76% less from 191.73 million shares in 2017Q4 were reported.

Tokio Marine Asset Management Commerce holds 73,596 shares or 1.08% of its portfolio. Fukoku Mutual Life Insur holds 0.01% of its portfolio in Incyte Corporation (NASDAQ:INCY) for 970 shares. Pillar Pacific Management Limited Liability stated it has 14,200 shares or 0.14% of all its holdings. Virtu Financial Limited Liability Corp has invested 0.03% in Incyte Corporation (NASDAQ:INCY). Atlantic Grp Inc Ltd Limited Liability Company invested 0% in Incyte Corporation (NASDAQ:INCY). 61,000 are held by Employees Retirement Sys Of Texas. Bessemer Gru invested in 26 shares. Strs Ohio accumulated 114,105 shares or 0.04% of the stock. Hanson Mcclain has 1,000 shares. 568,294 are owned by Morgan Stanley. Tirschwell & Loewy has invested 0.08% in Incyte Corporation (NASDAQ:INCY). 87,750 were reported by Friess Limited Liability Corporation. Swiss Bancshares reported 0.06% in Incyte Corporation (NASDAQ:INCY). Moreover, Atria Investments Llc has 0.02% invested in Incyte Corporation (NASDAQ:INCY) for 3,760 shares. Norinchukin National Bank & Trust The invested in 0.02% or 16,097 shares.

Since February 20, 2018, it had 1 insider buy, and 5 sales for $5.17 million activity. SWAIN PAULA J also sold $711,100 worth of Incyte Corporation (NASDAQ:INCY) on Monday, July 9. 1,958 shares valued at $167,507 were sold by Huber Reid M on Tuesday, February 20. $167,013 worth of stock was sold by GRYSKA DAVID W on Tuesday, February 20. Another trade for 15,000 shares valued at $914,100 was made by Hoppenot Herve on Wednesday, May 2.

Incyte (NASDAQ:INCY) Receives a Downgrade

Morgan Stanley cut shares of Incyte (NASDAQ:INCY) stock from a “Overweight” rating to a “Equal-Weight” rating in an analyst note revealed to investors on Friday morning.

Incyte Corporation (NASDAQ:INCY) Ratings Coverage

Among 16 analysts covering Incyte Corp (NASDAQ:INCY), 11 have Buy rating, 0 Sell and 5 Hold. Therefore 69% are positive. Incyte Corp has $175.0 highest and $6500 lowest target. $99.83’s average target is 41.40% above currents $70.6 stock price. Incyte Corp had 21 analyst reports since February 15, 2018 according to SRatingsIntel. The stock has “Overweight” rating by Barclays Capital on Thursday, April 5. As per Monday, April 23, the company rating was maintained by SunTrust. RBC Capital Markets maintained it with “Buy” rating and $11400 target in Wednesday, April 4 report. On Thursday, May 31 the stock rating was reinitiated by PiperJaffray with “Overweight”. The rating was downgraded by William Blair on Friday, April 6 to “Market Perform”. RBC Capital Markets downgraded Incyte Corporation (NASDAQ:INCY) rating on Tuesday, June 26. RBC Capital Markets has “Hold” rating and $7400 target. UBS upgraded the shares of INCY in report on Thursday, April 12 to “Buy” rating. The firm has “Hold” rating by Gabelli given on Monday, April 9. Oppenheimer maintained Incyte Corporation (NASDAQ:INCY) on Tuesday, May 1 with “Hold” rating. The rating was maintained by Piper Jaffray with “Buy” on Friday, June 15.

The stock decreased 0.76% or $0.54 during the last trading session, reaching $70.6. About 709,209 shares traded. Incyte Corporation (NASDAQ:INCY) has declined 50.56% since July 13, 2017 and is downtrending. It has underperformed by 63.13% the S&P500.

Analysts await Incyte Corporation (NASDAQ:INCY) to report earnings on August, 7. They expect $-0.06 earnings per share, 0.00 % or $0.00 from last year’s $-0.06 per share. After $-0.18 actual earnings per share reported by Incyte Corporation for the previous quarter, Wall Street now forecasts -66.67 % EPS growth.

Incyte Corporation focuses on the discovery, development, and commercialization of proprietary therapeutics in oncology in the United States and internationally. The company has market cap of $14.97 billion. It offers JAKAFI for the treatment of myelofibrosis and polycythemia vera cancers. It currently has negative earnings. The companyÂ’s clinical stage products include ruxolitinib cream that is in Phase II clinical trial for the treatment of alopecia areata and atopic dermatitis; and baricitinib, which is in Phase III clinical trial for treatment of rheumatoid arthritis.

More notable recent Incyte Corporation (NASDAQ:INCY) news were published by: Benzinga.com which released: “Incyte Downgraded As RBC Analyst Awaits More Revenue Visibility” on June 26, 2018, also Benzinga.com with their article: “The Market In 5 Minutes” published on July 13, 2018, Streetinsider.com published: “Incyte (INCY) PT Lowered to $100 at Nomura/Instinet” on July 13, 2018. More interesting news about Incyte Corporation (NASDAQ:INCY) were released by: Benzinga.com and their article: “Incyte Has Limited Catalysts In Next 6 Months; But 2019 Could Be Pivotal, Morgan Stanley Says In Downgrade” published on July 13, 2018 as well as Seekingalpha.com‘s news article titled: “Premarket analyst action – healthcare” with publication date: July 13, 2018.

Incyte Corporation (NASDAQ:INCY) Institutional Positions Chart

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