Incyte Co. (NASDAQ:INCY – Get Free Report) has received a consensus recommendation of “Hold” from the twenty-one research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $76.74.
A number of equities analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their target price on shares of Incyte from $67.00 to $72.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Citigroup boosted their price target on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley boosted their target price on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th.
Get Our Latest Stock Report on Incyte
Insiders Place Their Bets
Institutional Trading of Incyte
Several hedge funds have recently modified their holdings of the business. MFA Wealth Advisors LLC purchased a new position in Incyte in the second quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Incyte in the 1st quarter valued at about $28,000. Fidelis Capital Partners LLC acquired a new stake in shares of Incyte in the first quarter valued at about $32,000. Innealta Capital LLC purchased a new stake in Incyte during the second quarter worth about $32,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Incyte during the second quarter worth about $36,000. 96.97% of the stock is owned by institutional investors and hedge funds.
Incyte Price Performance
Shares of INCY stock opened at $77.28 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The company has a market capitalization of $14.89 billion, a PE ratio of 552.04, a price-to-earnings-growth ratio of 6.68 and a beta of 0.71. The firm’s 50-day moving average is $66.49 and its two-hundred day moving average is $62.30. Incyte has a 12 month low of $50.35 and a 12 month high of $77.37.
Incyte (NASDAQ:INCY – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). The firm had revenue of $1.14 billion for 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 firm’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 EPS. Analysts predict that Incyte will post 0.52 earnings per share for the current 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.
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