Incyte Corporation (NASDAQ:INCY) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Incyte Corporation (NASDAQ:INCY) have been given an average rating of “Hold” by the nineteen brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $92.7692.

Several equities analysts recently commented on INCY shares. JPMorgan Chase & Co. increased their price objective on shares of Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Citigroup upped their price target on shares of Incyte from $88.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Incyte in a report on Wednesday, October 8th. Bank of America boosted their price objective on shares of Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Finally, Oppenheimer downgraded Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th.

Insider Transactions at Incyte

In other news, EVP Sheila A. Denton sold 598 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total value of $60,613.28. Following the transaction, the executive vice president directly owned 26,569 shares of the company’s stock, valued at approximately $2,693,033.84. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Heeson sold 3,074 shares of Incyte stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $94.02, for a total value of $289,017.48. Following the sale, the executive vice president directly owned 29,241 shares of the company’s stock, valued at $2,749,238.82. This trade represents a 9.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,227 shares of company stock worth $396,327 over the last three months. Corporate insiders own 17.80% of the company’s stock.

Institutional Investors Weigh In On Incyte

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Incyte by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 213,947 shares of the biopharmaceutical company’s stock valued at $12,954,000 after purchasing an additional 1,419 shares during the period. Cerity Partners LLC raised its position in shares of Incyte by 103.5% in the first quarter. Cerity Partners LLC now owns 132,703 shares of the biopharmaceutical company’s stock worth $8,035,000 after acquiring an additional 67,495 shares during the period. State of Michigan Retirement System raised its position in shares of Incyte by 0.5% in the first quarter. State of Michigan Retirement System now owns 43,559 shares of the biopharmaceutical company’s stock worth $2,637,000 after acquiring an additional 200 shares during the period. CWM LLC boosted its stake in shares of Incyte by 87.1% during the 1st quarter. CWM LLC now owns 107,429 shares of the biopharmaceutical company’s stock worth $6,505,000 after acquiring an additional 50,005 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in shares of Incyte during the 1st quarter valued at about $237,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Down 1.2%

Shares of INCY stock opened at $104.15 on Friday. The stock’s fifty day moving average price is $90.34 and its 200 day moving average price is $78.13. Incyte has a 1-year low of $53.56 and a 1-year high of $109.28. The company has a market cap of $20.45 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 0.70 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 2.78.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.61. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the business posted $1.07 earnings per share. The firm’s revenue was up 20.0% compared to the same quarter last year. On average, research analysts expect that Incyte will post 4.86 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.