Incyte Co. (NASDAQ:INCY) Receives $73.83 Average Target Price from Brokerages

Incyte Co. (NASDAQ:INCY) has been given an average rating of “Hold” by the twenty ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $73.83.

Several equities research analysts have weighed in on the company. Truist Financial reissued a “hold” rating and issued a $74.00 price target (down previously from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their target price on Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Royal Bank of Canada restated a “sector perform” rating and set a $67.00 price target on shares of Incyte in a report on Tuesday, September 3rd. Finally, Citigroup increased their price objective on Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, July 31st.

Insider Buying and Selling at Incyte

In other news, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Incyte news, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the completion of the sale, the executive vice president now directly owns 36,701 shares of the company’s stock, valued at approximately $2,569,070. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas Tray sold 572 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,899 shares of company stock valued at $1,736,746 in the last three months. 17.50% of the stock is currently owned by company insiders.

Institutional Trading of Incyte

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in shares of Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after purchasing an additional 2,676,851 shares during the last quarter. AQR Capital Management LLC boosted its stake in Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after purchasing an additional 1,101,041 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Incyte by 28.0% during the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock valued at $215,833,000 after buying an additional 779,243 shares during the period. Swedbank AB bought a new position in shares of Incyte during the 1st quarter valued at $37,440,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Incyte by 122.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 892,710 shares of the biopharmaceutical company’s stock worth $54,116,000 after purchasing 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 Performance

INCY stock opened at $65.76 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $64.33 and its two-hundred day simple moving average is $60.29. Incyte has a twelve month low of $50.27 and a twelve month high of $70.36. The firm has a market cap of $14.77 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 5.17 and a beta of 0.73.

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