Incyte Co. (NASDAQ:INCY) Given Consensus Recommendation of “Hold” by Analysts

Shares of Incyte Co. (NASDAQ:INCY) have been assigned an average rating of “Hold” from the nineteen research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $73.76.

Several equities analysts have issued reports on the company. Guggenheim raised their price objective on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Oppenheimer decreased their price objective on Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a report on Friday, July 26th. JPMorgan Chase & Co. raised their target price on shares of Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Monday.

Insider Activity

In other news, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the transaction, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the transaction, the executive vice president now owns 36,390 shares of the company’s stock, valued at $2,269,280.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas Tray sold 572 shares of the firm’s 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 transaction, the insider now owns 24,825 shares in the company, valued at $1,562,485.50. The disclosure for this sale can be found here. Insiders sold a total of 34,047 shares of company stock valued at $2,225,626 over the last quarter. Company insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cape Investment Advisory Inc. acquired a new stake in Incyte in the fourth quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Incyte in the second quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new position in Incyte during the first quarter valued at about $28,000. Riverview Trust Co acquired a new position in Incyte during the first quarter worth about $29,000. Finally, Fidelis Capital Partners LLC acquired a new position in Incyte during the first quarter worth about $32,000. 96.97% of the stock is currently owned by institutional investors.

Incyte Stock Performance

Shares of INCY opened at $66.41 on Tuesday. The company has a market capitalization of $14.91 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 5.03 and a beta of 0.73. Incyte has a 52-week low of $50.27 and a 52-week high of $70.36. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average price of $64.03 and a 200 day moving average price of $59.61.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the company posted $0.77 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Research analysts predict that Incyte will post 0.67 EPS for the current fiscal year.

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.