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

Shares of Incyte Co. (NASDAQ:INCY) have received a consensus recommendation of “Hold” from the twenty-one analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $77.16.

A number of analysts have recently commented on the company. Morgan Stanley lifted their price target on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Citigroup boosted their target price on shares of Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Oppenheimer boosted their price objective on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, BMO Capital Markets reissued an “underperform” rating and issued a $52.00 price target (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th.

Insider Buying and Selling at Incyte

In related news, insider Thomas Tray sold 572 shares of Incyte stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the sale, the executive vice president now directly owns 58,042 shares of the company’s stock, valued at $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,702 shares of company stock worth $856,166. 17.60% of the stock is owned by corporate insiders.

Institutional Trading of Incyte

Several institutional investors have recently made changes to their positions in the company. MFA Wealth Advisors LLC bought a new stake in Incyte in the 2nd quarter worth about $26,000. Brooklyn Investment Group bought a new stake in Incyte during the third quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Incyte during the third quarter worth $33,000. Innealta Capital LLC purchased a new position in Incyte in the second quarter worth $32,000. Finally, Cromwell Holdings LLC grew its stake in Incyte by 101.1% in the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 283 shares during the period. Institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

Incyte stock opened at $71.72 on Friday. Incyte has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The stock has a fifty day moving average of $69.90 and a 200-day moving average of $64.47. The stock has a market capitalization of $13.82 billion, a P/E ratio of 512.32, a price-to-earnings-growth ratio of 8.12 and a beta of 0.71.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. On average, sell-side analysts expect that Incyte will post 0.4 earnings per share 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.