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

Incyte Co. (NASDAQ:INCY) has earned a consensus recommendation of “Hold” from the twenty brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $76.29.

Several research analysts recently commented on the company. Royal Bank of Canada increased their price target on Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, November 14th. Oppenheimer increased their price target on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a report on Friday, December 13th. BMO Capital Markets reiterated an “underperform” rating and set a $52.00 price target (up previously from $48.00) on shares of Incyte in a report on Wednesday, October 30th. Finally, Truist Financial restated a “hold” rating and issued a $74.00 price objective (down previously from $83.00) on shares of Incyte in a research note on Wednesday, September 18th.

Incyte Stock Performance

INCY stock opened at $70.54 on Monday. Incyte has a 1-year low of $50.35 and a 1-year high of $83.95. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The firm has a market cap of $13.59 billion, a PE ratio of 503.89, a P/E/G ratio of 7.90 and a beta of 0.71. The business’s 50-day moving average price is $73.13 and its two-hundred day moving average price is $67.62.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company earned $0.91 EPS. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. As a group, research analysts forecast that Incyte will post 0.4 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the transaction, the executive vice president now owns 58,042 shares of the company’s stock, valued at $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,023 shares of company stock valued at $839,711. 17.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Incyte

A number of hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Incyte in the third quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Incyte in the 3rd quarter worth about $33,000. Itau Unibanco Holding S.A. bought a new position in Incyte during the second quarter valued at about $36,000. Cromwell Holdings LLC increased its holdings in Incyte by 101.1% during the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 283 shares during the last quarter. Finally, Groupama Asset Managment raised its position in Incyte by 11.4% in the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 6,105 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

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.