Incyte Co. (NASDAQ:INCY) Receives Average Rating of “Hold” from Analysts

Shares of Incyte Co. (NASDAQ:INCY) have earned a consensus rating of “Hold” from the eighteen ratings firms that are presently covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $73.69.

INCY has been the subject of several research reports. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Oppenheimer cut their price target on Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Bank of America lowered their price objective on Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. BMO Capital Markets cut their target price on Incyte from $56.00 to $52.00 and set a “market perform” rating for the company in a research note on Wednesday, May 1st. Finally, TD Cowen lowered their price target on shares of Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st.

Insiders Place Their Bets

In other news, EVP Barry P. Flannelly sold 19,164 shares of Incyte stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total value of $1,149,840.00. Following the completion of the sale, the executive vice president now directly owns 66,377 shares of the company’s stock, valued at $3,982,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Incyte news, insider Thomas Tray sold 1,093 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the sale, the insider now directly owns 21,634 shares in the company, valued at approximately $1,274,458.94. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the transaction, the executive vice president now directly owns 66,377 shares of the company’s stock, valued at approximately $3,982,620. The disclosure for this sale can be found here. 17.50% of the stock is owned by insiders.

Institutional Trading of Incyte

Several hedge funds have recently modified their holdings of INCY. Vanguard Group Inc. increased its holdings in Incyte by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company’s stock worth $1,294,120,000 after purchasing an additional 196,440 shares during the period. LSV Asset Management increased its stake in shares of Incyte by 2.3% during the first quarter. LSV Asset Management now owns 2,754,777 shares of the biopharmaceutical company’s stock worth $156,940,000 after buying an additional 62,950 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Incyte by 7.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,514,634 shares of the biopharmaceutical company’s stock valued at $143,259,000 after acquiring an additional 177,852 shares in the last quarter. Norges Bank purchased a new position in Incyte in the fourth quarter worth approximately $123,253,000. Finally, Los Angeles Capital Management LLC lifted its stake in Incyte by 37.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,570,296 shares of the biopharmaceutical company’s stock worth $98,599,000 after acquiring an additional 424,934 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Price Performance

Shares of Incyte stock opened at $60.87 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43. The business has a 50 day simple moving average of $57.40 and a two-hundred day simple moving average of $58.71. The stock has a market capitalization of $13.67 billion, a P/E ratio of 18.45, a PEG ratio of 1.31 and a beta of 0.74. Incyte has a 12 month low of $50.27 and a 12 month high of $67.36.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). Incyte had a net margin of 19.78% and a return on equity of 12.83%. The firm had revenue of $880.89 million during the quarter, compared to analysts’ expectations of $935.85 million. As a group, analysts predict that Incyte will post 3.57 EPS for the current fiscal year.

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.