Incyte Co. (NASDAQ:INCY) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Incyte Co. (NASDAQ:INCY) have been given an average rating of “Hold” by the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $76.07.

A number of brokerages have issued reports on INCY. Truist Financial cut their target price on Incyte from $91.00 to $84.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. William Blair reissued an “outperform” rating on shares of Incyte in a research report on Tuesday, February 6th. Stifel Nicolaus upped their price target on Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $65.00 price target on shares of Incyte in a research report on Monday, March 25th. Finally, Bank of America dropped their price target on Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th.

Incyte Stock Performance

Shares of INCY opened at $52.35 on Friday. The business’s 50 day moving average is $57.46 and its two-hundred day moving average is $57.92. Incyte has a 52-week low of $50.27 and a 52-week high of $75.74. The firm has a market cap of $11.75 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.22 and a beta of 0.65. The company has a quick ratio of 3.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). Incyte had a net margin of 16.17% and a return on equity of 12.56%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts forecast that Incyte will post 3.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. ARK Investment Management LLC increased its holdings in shares of Incyte by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 531,625 shares of the biopharmaceutical company’s stock valued at $33,381,000 after purchasing an additional 37,932 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Incyte by 13.6% during the third quarter. State of Alaska Department of Revenue now owns 64,309 shares of the biopharmaceutical company’s stock valued at $3,714,000 after purchasing an additional 7,695 shares during the period. Royal Bank of Canada increased its holdings in shares of Incyte by 85.3% during the third quarter. Royal Bank of Canada now owns 987,052 shares of the biopharmaceutical company’s stock valued at $57,021,000 after purchasing an additional 454,416 shares during the period. RFG Advisory LLC acquired a new position in shares of Incyte during the fourth quarter valued at $206,000. Finally, Raymond James & Associates acquired a new position in shares of Incyte during the fourth quarter valued at $2,291,000. 96.97% of the stock is owned by institutional investors and hedge funds.

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.