Incyte Co. (NASDAQ:INCY) Given Consensus Recommendation of “Hold” by Brokerages

Incyte Co. (NASDAQ:INCY) has earned an average recommendation of “Hold” from the twenty analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $73.83.

Several equities research analysts have weighed in on the stock. Wolfe Research initiated coverage on shares of Incyte in a research note on Tuesday. They issued an “outperform” rating and a $84.00 price target for the company. JPMorgan Chase & Co. boosted their target price on Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Citigroup increased their price target on Incyte from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Monday, September 16th. Finally, BMO Capital Markets reaffirmed an “underperform” rating and set a $48.00 target price (down from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd.

Insiders Place Their Bets

In related news, EVP Vijay K. Iyengar sold 15,571 shares of Incyte stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the sale, the executive vice president now directly owns 36,701 shares in the company, valued at approximately $2,569,070. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Barry P. Flannelly sold 8,148 shares of the firm’s stock in a transaction that occurred on 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 owns 50,534 shares in the company, valued at $3,032,040. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the completion of the transaction, the executive vice president now owns 36,701 shares in the company, valued at approximately $2,569,070. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,047 shares of company stock valued at $2,225,626 in the last 90 days. 17.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Incyte

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Incyte by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company’s stock valued at $1,294,120,000 after buying an additional 196,440 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Incyte by 28.0% in the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after acquiring an additional 779,243 shares during the period. LSV Asset Management raised its stake in shares of Incyte by 0.5% during the 2nd quarter. LSV Asset Management now owns 2,769,892 shares of the biopharmaceutical company’s stock valued at $167,911,000 after purchasing an additional 15,115 shares during the period. Pacer Advisors Inc. lifted its holdings in Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after purchasing an additional 2,676,851 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after purchasing an additional 1,101,041 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Incyte Trading Up 0.7 %

INCY opened at $67.49 on Friday. Incyte has a twelve month low of $50.27 and a twelve month high of $70.36. The company has a fifty day moving average of $64.33 and a 200-day moving average of $60.26. The stock has a market cap of $15.15 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) 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 business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, sell-side analysts predict that Incyte will post 0.66 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.