Incyte Co. (NASDAQ:INCY) Given Average Recommendation of “Hold” by Brokerages

Shares of Incyte Co. (NASDAQ:INCY) have earned a consensus recommendation of “Hold” from the eighteen research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $73.53.

Several research analysts have weighed in on the company. Citigroup lowered their price target on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. JPMorgan Chase & Co. lowered their price target on Incyte from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. William Blair lowered Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. Truist Financial lowered their price target on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Finally, Stifel Nicolaus boosted their price target on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th.

Incyte Stock Up 0.9%

Shares of Incyte stock opened at $63.31 on Friday. The business’s 50 day simple moving average is $60.49 and its 200 day simple moving average is $68.43. Incyte has a 52-week low of $53.56 and a 52-week high of $83.95. The firm has a market cap of $12.25 billion, a PE ratio of 234.49, a P/E/G ratio of 0.41 and a beta of 0.68. 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 (NASDAQ:INCY) last announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. During the same quarter last year, the firm earned $0.64 EPS. Incyte’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, analysts predict that Incyte will post 4.86 earnings per share for the current fiscal year.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the sale, the executive vice president now directly owns 33,567 shares in the company, valued at $2,272,150.23. The trade was a 37.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sheila A. Denton sold 14,069 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,914,561.36. This trade represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,475 shares of company stock worth $2,424,751. 17.80% of the stock is owned by company insiders.

Institutional Trading of Incyte

Institutional investors have recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. acquired a new position in Incyte in the 4th quarter valued at $26,000. Global X Japan Co. Ltd. raised its holdings in Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 230 shares in the last quarter. R Squared Ltd acquired a new position in Incyte in the 4th quarter valued at $30,000. Banque Transatlantique SA acquired a new position in Incyte in the 1st quarter valued at $26,000. Finally, Raiffeisen Bank International AG acquired a new position in Incyte in the 4th quarter valued at $34,000. 96.97% of the stock is currently owned by institutional investors.

About Incyte

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.