Incyte Co. (NASDAQ:INCY) Given Consensus Recommendation of “Hold” by Analysts

Incyte Co. (NASDAQ:INCY) has earned a consensus recommendation of “Hold” from the nineteen ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $75.25.

Several equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Citigroup dropped their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Stifel Nicolaus lifted their price objective on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Friday, January 10th.

Incyte Stock Down 4.4 %

Shares of INCY opened at $70.26 on Tuesday. The company has a 50-day simple moving average of $71.78 and a 200-day simple moving average of $70.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. Incyte has a 52 week low of $50.35 and a 52 week high of $83.95. The firm has a market capitalization of $13.60 billion, a P/E ratio of 260.23, a P/E/G ratio of 0.41 and a beta of 0.70.

Incyte (NASDAQ:INCY) last issued its 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 net margin of 0.77% and a return on equity of 0.05%. On average, equities research analysts expect that Incyte will post 4.86 earnings per share for the current year.

Insider Activity at Incyte

In other news, insider Thomas Tray sold 650 shares of the firm’s 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 directly owns 23,312 shares of the company’s stock, valued at $1,615,754.72. This trade represents a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Sheila A. Denton sold 14,069 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the completion of the transaction, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,914,561.36. This represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,721 shares of company stock valued at $2,030,925. 17.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INCY. Geode Capital Management LLC grew its stake in shares of Incyte by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company’s stock valued at $278,346,000 after acquiring an additional 103,910 shares in the last quarter. AQR Capital Management LLC boosted its position in Incyte by 29.7% in the fourth quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company’s stock valued at $241,519,000 after buying an additional 801,090 shares in the last quarter. LSV Asset Management grew its position in Incyte by 18.6% during the 4th quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company’s stock worth $239,500,000 after acquiring an additional 544,080 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Incyte during the third quarter worth about $156,611,000. Finally, Bellevue Group AG grew its holdings in Incyte by 0.3% during the 4th quarter. Bellevue Group AG now owns 2,157,478 shares of the biopharmaceutical company’s stock worth $149,017,000 after acquiring an additional 6,927 shares during the last quarter. 96.97% of the stock is owned by 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.