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

Shares of Incyte Co. (NASDAQ:INCY) have been given a consensus rating of “Hold” by the twenty research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $73.83.

Several research analysts have recently issued reports on INCY shares. JPMorgan Chase & Co. increased their price objective on shares of Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. William Blair restated an “outperform” rating on shares of Incyte in a report on Monday, September 9th. Finally, Truist Financial reaffirmed a “hold” rating and set a $74.00 target price (down from $83.00) on shares of Incyte in a report on Wednesday, September 18th.

Insiders Place Their Bets

In related news, insider Thomas Tray sold 572 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Incyte news, EVP Barry P. Flannelly sold 1,306 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total value of $83,832.14. Following the sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $3,725,715.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas Tray sold 572 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the transaction, the insider now directly owns 24,825 shares of the company’s stock, valued at $1,562,485.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,047 shares of company stock worth $2,225,626 in the last quarter. 17.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Incyte

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in Incyte by 48.8% in the 4th quarter. Wellington Management Group LLP now owns 131,649 shares of the biopharmaceutical company’s stock valued at $8,266,000 after acquiring an additional 43,160 shares during the period. Fulton Bank N.A. bought a new position in Incyte during the 1st quarter worth $1,425,000. FORVIS Wealth Advisors LLC acquired a new position in Incyte during the 1st quarter worth about $1,495,000. ProShare Advisors LLC grew its position in shares of Incyte by 14.4% in the 1st quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company’s stock valued at $3,594,000 after buying an additional 7,925 shares during the last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Incyte in the first quarter valued at about $463,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Performance

Incyte stock opened at $67.49 on Friday. Incyte has a 52 week low of $50.27 and a 52 week high of $70.36. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. The stock has a market cap of $15.15 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73. The stock has a 50 day moving average of $64.33 and a 200-day moving average of $60.26.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. Incyte’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share. On average, analysts expect that Incyte will post 0.66 EPS for the current fiscal 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.