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

Shares of Incyte Co. (NASDAQ:INCY) have received an average recommendation of “Hold” from the twenty-one brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $77.16.

A number of brokerages have weighed in on INCY. BMO Capital Markets reiterated an “underperform” rating and set a $52.00 target price (up previously from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Wolfe Research initiated coverage on shares of Incyte in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price objective for the company. William Blair restated an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Guggenheim boosted their price objective on Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, September 16th.

Incyte Trading Up 1.9 %

NASDAQ:INCY opened at $71.72 on Friday. Incyte has a 12 month low of $50.35 and a 12 month 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’s 50 day moving average is $69.90 and its 200 day moving average is $64.47. The stock has a market capitalization of $13.82 billion, a PE ratio of 512.32, a price-to-earnings-growth ratio of 8.12 and a beta of 0.71.

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

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the firm’s 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 sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at $4,624,786.56. This trade represents a 5.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Tray sold 572 shares of the company’s stock in a transaction dated 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 approximately $1,562,485.50. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,702 shares of company stock valued at $856,166. Insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Incyte

A number of large investors have recently made changes to their positions in the business. MFA Wealth Advisors LLC purchased a new position in shares of Incyte during the second quarter valued at about $26,000. Brooklyn Investment Group bought a new position in shares of Incyte in the 3rd quarter worth approximately $30,000. Innealta Capital LLC purchased a new position in shares of Incyte in the 2nd quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Incyte in the 3rd quarter valued at approximately $33,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Incyte in the second quarter worth $36,000. 96.97% of the stock is currently owned by institutional investors.

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.