Incyte Co. (NASDAQ:INCY) Receives $74.58 Consensus Price Target from Brokerages

Shares of Incyte Co. (NASDAQ:INCY) have been assigned an average recommendation of “Hold” from the twenty-one brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $76.74.

Several analysts have recently commented on INCY shares. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. Wells Fargo & Company raised their target price on Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Wolfe Research started coverage on Incyte in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 target price for the company. StockNews.com raised Incyte from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Royal Bank of Canada lifted their price objective on Incyte from $67.00 to $72.00 and gave the company a “sector perform” rating in a research report on Wednesday.

Incyte Stock Up 2.7 %

Shares of INCY stock opened at $76.13 on Wednesday. Incyte has a 1 year low of $50.35 and a 1 year high of $76.33. The stock has a market cap of $14.67 billion, a PE ratio of 543.79, a price-to-earnings-growth ratio of 6.57 and a beta of 0.73. The business’s fifty day moving average is $66.04 and its 200-day moving average is $61.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.87.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business posted $0.91 earnings per share. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. Equities analysts expect that Incyte will post 0.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the transaction, the executive vice president now owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Thomas Tray sold 572 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the transaction, the executive vice president now owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

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

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.