Analysts Set Incyte Co. (NASDAQ:INCY) Price Target at $73.29

Shares of Incyte Co. (NASDAQ:INCY) have earned a consensus rating of “Hold” from the nineteen research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $73.29.

Several analysts recently issued reports on INCY shares. Oppenheimer cut their price target on Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Bank of America upped their target price on shares of Incyte from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. BMO Capital Markets reaffirmed an “underperform” rating and set a $48.00 price target (down previously from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Monday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $67.00 target price on shares of Incyte in a research report on Tuesday, September 3rd.

Insider Buying and Selling

In other Incyte news, EVP Barry P. Flannelly sold 8,148 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total transaction of $488,880.00. Following the completion of the sale, the executive vice president now directly owns 50,534 shares of the company’s stock, valued at $3,032,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the completion of the sale, the executive vice president now directly owns 36,701 shares of the company’s stock, valued at approximately $2,569,070. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 8,148 shares of Incyte stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total value of $488,880.00. Following the transaction, the executive vice president now directly owns 50,534 shares in the company, valued at approximately $3,032,040. The disclosure for this sale can be found here. Insiders have sold 25,025 shares of company stock worth $1,662,682 in the last three months. 17.50% of the stock is currently owned by insiders.

Institutional Trading of Incyte

Several institutional investors have recently made changes to their positions in INCY. Pacer Advisors Inc. lifted its holdings in shares of Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after buying an additional 2,676,851 shares during the last quarter. Norges Bank acquired a new stake in Incyte in the fourth quarter valued at approximately $123,253,000. AQR Capital Management LLC grew its position in Incyte by 70.5% in the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after acquiring an additional 1,101,041 shares in the last quarter. KBC Group NV increased its stake in shares of Incyte by 842.2% during the 4th quarter. KBC Group NV now owns 955,749 shares of the biopharmaceutical company’s stock worth $60,011,000 after purchasing an additional 854,311 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Incyte by 28.0% during the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock valued at $215,833,000 after purchasing an additional 779,243 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Performance

Incyte stock opened at $63.36 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average of $63.74 and a 200-day moving average of $59.55. The stock has a market cap of $14.23 billion, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 4.88 and a beta of 0.73. Incyte has a 52 week low of $50.27 and a 52 week high of $70.36.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the company earned $0.77 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts expect that Incyte will post 0.67 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.