Incyte Co. (NASDAQ:INCY) Receives Consensus Rating of “Hold” from Brokerages

Shares of Incyte Co. (NASDAQ:INCY) have been assigned an average rating of “Hold” from the twenty analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $75.59.

INCY has been the subject of a number of research analyst reports. BMO Capital Markets reiterated an “underperform” rating and issued a $52.00 price target (up from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. The Goldman Sachs Group increased their price target on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Finally, JMP Securities reiterated a “market perform” rating on shares of Incyte in a research report on Tuesday.

Incyte Trading Down 2.9 %

NASDAQ:INCY opened at $66.33 on Friday. Incyte has a 52 week low of $50.35 and a 52 week high of $83.95. The stock has a market cap of $12.78 billion, a price-to-earnings ratio of 473.82, a PEG ratio of 0.53 and a beta of 0.70. The company’s 50 day moving average price is $71.69 and its 200-day moving average price is $69.18. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. On average, equities research analysts forecast that Incyte will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the transaction, the executive vice president now owns 66,967 shares in the company, valued at $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Tray sold 650 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the sale, the insider now owns 23,312 shares in the company, valued at approximately $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,695 shares of company stock worth $1,444,356. Corporate insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Incyte

Institutional investors have recently modified their holdings of the stock. Orion Portfolio Solutions LLC purchased a new position in Incyte during the 3rd quarter worth $770,000. CWA Asset Management Group LLC purchased a new position in shares of Incyte during the fourth quarter valued at $1,933,000. Greenwood Capital Associates LLC bought a new stake in shares of Incyte in the third quarter valued at about $433,000. Tri Ri Asset Management Corp purchased a new stake in Incyte in the third quarter worth about $3,292,000. Finally, Cypress Capital Group bought a new position in Incyte during the 3rd quarter worth about $971,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

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.