Incyte Co. (NASDAQ:INCY) Receives $77.16 Consensus Price Target from Brokerages

Shares of Incyte Co. (NASDAQ:INCY) have been assigned an average recommendation of “Hold” from the twenty-one analysts that are currently covering the company, Marketbeat.com reports. One research 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 brokers that have covered the stock in the last year is $77.16.

Several research analysts recently issued reports on INCY shares. The Goldman Sachs Group increased their target price on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Guggenheim boosted their target price on Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Citigroup increased their price target on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Oppenheimer raised their price objective on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th.

Incyte Stock Up 1.7 %

Shares of NASDAQ:INCY opened at $74.80 on Friday. Incyte has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The business’s 50-day moving average is $70.21 and its 200-day moving average is $64.85. The company has a market capitalization of $14.41 billion, a price-to-earnings ratio of 534.32, a P/E/G ratio of 8.27 and a beta of 0.71.

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). The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Incyte’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. Equities research analysts predict that Incyte will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the transaction, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Tray sold 572 shares of Incyte stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,702 shares of company stock valued at $856,166. Corporate insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Incyte

Several large investors have recently modified their holdings of the stock. MFA Wealth Advisors LLC purchased a new stake in Incyte in the 2nd quarter worth about $26,000. Brooklyn Investment Group purchased a new position in shares of Incyte in the third quarter worth about $30,000. Innealta Capital LLC purchased a new position in shares of Incyte in the second quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Incyte in the third quarter valued at approximately $33,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Incyte during the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

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.