Incyte Corporation (NASDAQ:INCY) Receives $103.94 Average Price Target from Analysts

Incyte Corporation (NASDAQ:INCY) has been assigned an average recommendation of “Hold” from the twenty-one research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $104.00.

Several equities research analysts recently issued reports on INCY shares. The Goldman Sachs Group reissued a “neutral” rating and set a $90.00 price objective on shares of Incyte in a research note on Thursday, January 8th. Wells Fargo & Company dropped their price target on Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. Morgan Stanley set a $102.00 price objective on Incyte in a report on Wednesday, February 11th. Mizuho set a $121.00 target price on shares of Incyte and gave the company an “outperform” rating in a research note on Monday, December 8th. Finally, Barclays boosted their price target on shares of Incyte from $116.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday.

Incyte Stock Down 0.4%

INCY stock opened at $101.32 on Tuesday. The stock has a fifty day moving average of $102.32 and a 200-day moving average of $95.06. Incyte has a fifty-two week low of $53.56 and a fifty-two week high of $112.29. The company has a market capitalization of $20.16 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 0.81 and a beta of 0.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.25 and a current ratio of 3.32.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, February 10th. The biopharmaceutical company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). Incyte had a net margin of 25.03% and a return on equity of 26.34%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. As a group, equities research analysts predict that Incyte will post 4.86 earnings per share for the current year.

Insider Transactions at Incyte

In other Incyte news, EVP Steven H. Stein sold 20,105 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the sale, the executive vice president owned 63,129 shares in the company, valued at $6,471,353.79. This trade represents a 24.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael James Morrissey sold 54,008 shares of Incyte stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $97.29, for a total value of $5,254,438.32. Following the sale, the executive vice president directly owned 31,830 shares of the company’s stock, valued at approximately $3,096,740.70. This trade represents a 62.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 95,225 shares of company stock worth $9,519,745 in the last three months. Insiders own 17.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in INCY. Vanguard Group Inc. grew its holdings in shares of Incyte by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 20,135,393 shares of the biopharmaceutical company’s stock valued at $1,371,220,000 after purchasing an additional 137,570 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Incyte by 21.8% during the second quarter. AQR Capital Management LLC now owns 8,201,455 shares of the biopharmaceutical company’s stock valued at $558,519,000 after buying an additional 1,465,286 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Incyte by 11.3% in the fourth quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock worth $491,500,000 after buying an additional 506,842 shares during the period. LSV Asset Management lifted its stake in shares of Incyte by 3.2% in the 3rd quarter. LSV Asset Management now owns 3,986,097 shares of the biopharmaceutical company’s stock valued at $338,061,000 after acquiring an additional 124,266 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Incyte by 13.2% in the 4th quarter. Invesco Ltd. now owns 3,473,781 shares of the biopharmaceutical company’s stock valued at $343,105,000 after acquiring an additional 405,611 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.