Incyte Co. (NASDAQ:INCY) Receives $76.29 Consensus Target Price from Brokerages

Shares of Incyte Co. (NASDAQ:INCY) have been given a consensus recommendation of “Hold” by the twenty ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $76.29.

Several research analysts have recently weighed in on the company. Citigroup boosted their price target on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. boosted their price objective on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Truist Financial restated a “hold” rating and issued a $74.00 target price (down previously from $83.00) on shares of Incyte in a report on Wednesday, September 18th.

Incyte Stock Performance

Shares of INCY stock opened at $72.46 on Monday. The company has a market capitalization of $13.96 billion, a price-to-earnings ratio of 517.61, a price-to-earnings-growth ratio of 7.90 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. Incyte has a one year low of $50.35 and a one year high of $83.95. The company’s 50-day moving average is $72.95 and its 200 day moving average is $67.78.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company earned $0.91 EPS. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. Sell-side analysts expect that Incyte will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Tray sold 650 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the sale, the insider now owns 23,312 shares of the company’s stock, valued at $1,615,754.72. The trade was a 2.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,023 shares of company stock valued at $839,711. 17.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Incyte

A number of hedge funds have recently made changes to their positions in INCY. CWA Asset Management Group LLC bought a new position in Incyte in the 4th quarter worth approximately $1,933,000. Orion Portfolio Solutions LLC purchased a new position in shares of Incyte in the third quarter worth $770,000. Greenwood Capital Associates LLC bought a new position in shares of Incyte during the third quarter worth $433,000. Tri Ri Asset Management Corp purchased a new position in Incyte during the third quarter valued at $3,292,000. Finally, Cypress Capital Group bought a new stake in Incyte in the 3rd quarter valued at $971,000. 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.