Incyte Co. (NASDAQ:INCY) Receives Consensus Rating of “Hold” from Brokerages

Incyte Co. (NASDAQ:INCY) has been given a consensus rating of “Hold” by the eighteen analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $73.25.

INCY has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed an “underperform” rating and set a $48.00 price target (down previously from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. TD Cowen dropped their price objective on shares of Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Oppenheimer dropped their price objective on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a research note on Friday. Truist Financial reissued a “buy” rating and issued a $83.00 price objective (down previously from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Incyte in a research note on Thursday, May 23rd. They issued a “hold” rating and a $55.00 price objective for the company.

Incyte Stock Up 0.1 %

Shares of INCY opened at $68.61 on Monday. Incyte has a 52 week low of $50.27 and a 52 week high of $70.36. The firm has a market cap of $15.41 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 1.44 and a beta of 0.73. The firm’s 50-day simple moving average is $61.03 and its 200 day simple moving average is $58.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). Incyte had a net margin of 19.78% and a return on equity of 12.83%. The company had revenue of $880.89 million during the quarter, compared to analyst estimates of $935.85 million. On average, analysts forecast that Incyte will post 3.66 earnings per share for the current year.

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the completion of the sale, the executive vice president now directly owns 66,377 shares in the company, valued at $3,982,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Barry P. Flannelly sold 19,164 shares of Incyte stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the transaction, the executive vice president now directly owns 66,377 shares in the company, valued at $3,982,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Tray sold 1,093 shares of Incyte stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the transaction, the insider now owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The disclosure for this sale can be found here. Insiders sold a total of 29,711 shares of company stock worth $1,786,941 over the last three months. 17.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Cape Investment Advisory Inc. bought a new stake in Incyte in the fourth quarter worth about $25,000. MFA Wealth Advisors LLC bought a new stake in Incyte in the second quarter worth about $26,000. Larson Financial Group LLC raised its position in Incyte by 4,220.0% in the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 422 shares during the period. Redmont Wealth Advisors LLC bought a new stake in Incyte in the first quarter worth about $28,000. Finally, Riverview Trust Co bought a new stake in Incyte in the first quarter worth about $29,000. 96.97% of the stock is owned by institutional investors.

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.