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

Shares of Incyte Co. (NASDAQ:INCY) have been assigned a consensus recommendation of “Hold” from the eighteen research firms that are presently covering the stock, Marketbeat reports. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $73.69.

Several equities analysts have issued reports on INCY shares. Bank of America decreased their price objective on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. BMO Capital Markets cut their target price on Incyte from $56.00 to $52.00 and set a “market perform” rating for the company in a research note on Wednesday, May 1st. Truist Financial reissued a “buy” rating and issued a $83.00 price target (down from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $65.00 target price on shares of Incyte in a research note on Monday, March 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Incyte in a research report on Thursday, May 23rd. They issued a “hold” rating and a $55.00 price target for the company.

Incyte Price Performance

Shares of NASDAQ INCY opened at $61.75 on Thursday. The company has a market cap of $13.87 billion, a PE ratio of 18.71, a P/E/G ratio of 1.36 and a beta of 0.74. Incyte has a fifty-two week low of $50.27 and a fifty-two week high of $67.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. The business has a 50-day simple moving average of $56.89 and a two-hundred day simple moving average of $58.70.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.31). The business had revenue of $880.89 million during the quarter, compared to analyst estimates of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. As a group, equities analysts expect that Incyte will post 3.57 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Incyte

A number of hedge funds have recently added to or reduced their stakes in INCY. FMR LLC lifted its holdings in shares of Incyte by 38.2% during the 3rd quarter. FMR LLC now owns 1,556,751 shares of the biopharmaceutical company’s stock valued at $89,934,000 after acquiring an additional 430,121 shares in the last quarter. Mariner LLC lifted its position in Incyte by 12.4% in the 3rd quarter. Mariner LLC now owns 8,202 shares of the biopharmaceutical company’s stock valued at $474,000 after purchasing an additional 903 shares during the last quarter. MQS Management LLC boosted its position in shares of Incyte by 6.2% during the third quarter. MQS Management LLC now owns 5,581 shares of the biopharmaceutical company’s stock worth $322,000 after buying an additional 327 shares during the period. Vinva Investment Management Ltd boosted its position in Incyte by 120.0% during the 3rd quarter. Vinva Investment Management Ltd now owns 11,986 shares of the biopharmaceutical company’s stock worth $702,000 after acquiring an additional 6,539 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in Incyte by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 89,217 shares of the biopharmaceutical company’s stock worth $5,154,000 after purchasing an additional 335 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

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.