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

Incyte Co. (NASDAQ:INCY) 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.

Insiders Place Their Bets

In other news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm’s 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 sale, the executive vice president now directly owns 36,390 shares in the company, valued at approximately $2,269,280.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the transaction, the executive vice president now owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Tray sold 572 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the sale, the insider now directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.60% of the stock is currently owned by company insiders.

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) 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.