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

Incyte Co. (NASDAQ:INCY) has been assigned a consensus rating of “Hold” from the twenty ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $76.18.

A number of brokerages have recently weighed in on INCY. Citigroup raised their price target on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Tuesday, November 19th. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. Finally, Oppenheimer lifted their price target on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th.

Insider Buying and Selling at Incyte

In related news, 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 transaction, the insider now owns 23,312 shares in the company, valued at $1,615,754.72. This trade represents a 2.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at $4,624,786.56. This represents a 5.96 % 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.

Institutional Investors Weigh In On Incyte

Hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in Incyte in the third quarter worth approximately $30,000. Innealta Capital LLC bought a new stake in Incyte in the second quarter worth approximately $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Incyte during the 3rd quarter valued at $33,000. Itau Unibanco Holding S.A. acquired a new position in Incyte during the second quarter worth $36,000. Finally, Deseret Mutual Benefit Administrators raised its holdings in Incyte by 37.1% during the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Trading Down 2.7 %

Shares of INCY opened at $67.55 on Thursday. The firm’s 50-day moving average is $72.33 and its two-hundred day moving average is $66.49. Incyte has a twelve month low of $50.35 and a twelve month high of $83.95. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $13.01 billion, a P/E ratio of 482.53, a PEG ratio of 8.36 and a beta of 0.69.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. On average, research analysts predict that Incyte will post 0.4 earnings per share 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.