Incyte Co. (NASDAQ:INCY) Receives $76.07 Consensus PT from Brokerages

Incyte Co. (NASDAQ:INCY) has been assigned an average rating of “Hold” from the fifteen brokerages that are covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $76.07.

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. Bank of America lowered their target price on Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. JMP Securities cut Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Jefferies Financial Group started coverage on shares of Incyte in a research report on Friday, February 23rd. They issued a “buy” rating and a $81.00 price objective on the stock. Finally, Truist Financial cut their price objective on shares of Incyte from $91.00 to $84.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ARK Investment Management LLC raised its position in Incyte by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 531,625 shares of the biopharmaceutical company’s stock worth $33,381,000 after acquiring an additional 37,932 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Incyte by 13.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 64,309 shares of the biopharmaceutical company’s stock valued at $3,714,000 after buying an additional 7,695 shares in the last quarter. Royal Bank of Canada grew its holdings in Incyte by 85.3% during the 3rd quarter. Royal Bank of Canada now owns 987,052 shares of the biopharmaceutical company’s stock valued at $57,021,000 after buying an additional 454,416 shares during the last quarter. American Century Companies Inc. increased its position in Incyte by 25.7% during the third quarter. American Century Companies Inc. now owns 248,771 shares of the biopharmaceutical company’s stock worth $14,372,000 after buying an additional 50,930 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Incyte by 55.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 42,945 shares of the biopharmaceutical company’s stock worth $2,481,000 after acquiring an additional 15,319 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Trading Down 0.8 %

INCY opened at $53.43 on Friday. 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 has a 52 week low of $50.27 and a 52 week high of $75.74. The business’s 50 day moving average is $57.87 and its two-hundred day moving average is $58.06. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.16 and a beta of 0.65.

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