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

Shares of Incyte Co. (NASDAQ:INCY) have been given an average rating of “Hold” by the twenty ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $76.18.

INCY has been the topic of several recent analyst reports. William Blair restated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Guggenheim raised their price target on Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a report on Monday, September 16th. Oppenheimer upped their price objective on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wolfe Research initiated coverage on Incyte in a research report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 target price for the company. Finally, JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th.

Insider Buying and Selling

In related news, insider Thomas Tray sold 650 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the sale, the insider now owns 23,312 shares in the company, valued at approximately $1,615,754.72. This trade represents a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares in the company, valued at $2,311,000.04. This represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,023 shares of company stock worth $839,711 in the last 90 days. Insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Incyte

A number of hedge funds and other institutional investors have recently bought and sold shares of INCY. Raymond James & Associates grew its stake in shares of Incyte by 783.4% in the 2nd quarter. Raymond James & Associates now owns 34,790 shares of the biopharmaceutical company’s stock valued at $2,109,000 after purchasing an additional 30,852 shares during the last quarter. New York State Teachers Retirement System increased its stake in Incyte by 4.1% in the 2nd quarter. New York State Teachers Retirement System now owns 211,984 shares of the biopharmaceutical company’s stock valued at $12,850,000 after buying an additional 8,335 shares during the period. JB Capital LLC lifted its stake in shares of Incyte by 2.6% in the 2nd quarter. JB Capital LLC now owns 45,478 shares of the biopharmaceutical company’s stock worth $2,757,000 after acquiring an additional 1,159 shares during the period. Catalyst Financial Partners LLC purchased a new stake in shares of Incyte in the second quarter valued at about $442,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Incyte by 122.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 892,710 shares of the biopharmaceutical company’s stock worth $54,116,000 after acquiring an additional 490,680 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Stock Down 2.7 %

Shares of Incyte stock opened at $67.55 on Thursday. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. Incyte has a twelve month low of $50.35 and a twelve month high of $83.95. The company has a market cap of $13.01 billion, a price-to-earnings ratio of 482.53, a price-to-earnings-growth ratio of 8.36 and a beta of 0.69. The company’s 50 day moving average is $72.33 and its 200 day moving average is $66.49.

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 business 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%. Incyte’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS. Research analysts anticipate that Incyte will post 0.4 EPS 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.