Shares of Incyte Co. (NASDAQ:INCY – Get Free Report) 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.
Read Our Latest Stock Report on Incyte
Insiders Place Their Bets
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 – Get Free Report) 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.
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