Incyte Co. (NASDAQ:INCY) Receives Consensus Rating of “Hold” from Brokerages

Incyte Co. (NASDAQ:INCY) has earned a consensus recommendation of “Hold” from the nineteen ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $74.88.

Several research analysts have commented on the stock. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Truist Financial cut their price target on shares of Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Stifel Nicolaus lifted their price objective on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a report on Monday, February 10th. Wells Fargo & Company increased their target price on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th.

Insiders Place Their Bets

In other news, EVP Sheila A. Denton sold 599 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,809,101.52. This represents a 2.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. This represents a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,827 shares of company stock worth $3,322,618 over the last three months. Company insiders own 17.60% of the company’s stock.

Institutional Trading of Incyte

A number of hedge funds and other institutional investors have recently modified their holdings of INCY. Quintet Private Bank Europe S.A. purchased a new stake in Incyte in the fourth quarter worth about $26,000. Global X Japan Co. Ltd. boosted its position in shares of Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 230 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Incyte in the 4th quarter worth approximately $30,000. Brooklyn Investment Group bought a new position in Incyte during the 3rd quarter valued at approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Incyte during the third quarter valued at $33,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Down 0.1 %

Shares of NASDAQ:INCY opened at $60.60 on Friday. The firm has a market capitalization of $11.73 billion, a PE ratio of 224.45, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. Incyte has a 52-week low of $50.35 and a 52-week high of $83.95. The firm has a fifty day moving average of $69.53 and a 200 day moving average of $70.04.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, research analysts anticipate that Incyte will post 4.86 EPS for the current fiscal year.

Incyte Company Profile

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.