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

Shares of Incyte Co. (NASDAQ:INCY) have earned an average rating of “Hold” from the eighteen analysts that are covering the company, MarketBeat.com reports. Ten analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $73.69.

A number of brokerages recently issued reports on INCY. TD Cowen dropped their price objective on Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. BMO Capital Markets lowered their price target on shares of Incyte from $56.00 to $52.00 and set a “market perform” rating on the stock in a report on Wednesday, May 1st. Truist Financial reaffirmed a “buy” rating and set a $83.00 price objective (down previously from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Tuesday, June 18th. Finally, Oppenheimer lowered their price objective on Incyte from $92.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th.

Insiders Place Their Bets

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

Institutional Trading of Incyte

Several large investors have recently modified their holdings of INCY. DekaBank Deutsche Girozentrale boosted its holdings in Incyte by 19.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 152,452 shares of the biopharmaceutical company’s stock valued at $8,652,000 after acquiring an additional 24,328 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Incyte during the 1st quarter valued at about $241,000. Atria Investments Inc bought a new stake in shares of Incyte during the 1st quarter valued at about $1,056,000. Swedbank AB purchased a new position in shares of Incyte during the first quarter valued at about $37,440,000. Finally, Virtu Financial LLC bought a new position in Incyte in the first quarter worth about $638,000. 96.97% of the stock is owned by institutional investors.

Incyte Trading Up 0.4 %

Shares of Incyte stock opened at $60.87 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. The stock has a market capitalization of $13.67 billion, a P/E ratio of 18.45, a P/E/G ratio of 1.31 and a beta of 0.74. Incyte has a 52-week low of $50.27 and a 52-week high of $67.36. The stock’s 50-day simple moving average is $57.40 and its 200 day simple moving average is $58.71.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS 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 business had revenue of $880.89 million for the quarter, compared to analysts’ expectations of $935.85 million. As a group, research analysts anticipate that Incyte will post 3.57 EPS for the current year.

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.