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

Incyte Co. (NASDAQ:INCY) has been given a consensus rating of “Hold” by the twenty research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $75.71.

INCY has been the topic of several analyst reports. UBS Group started coverage on Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price on the stock. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and lifted their target price for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. Citigroup raised their price target on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer upped their price objective on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, January 14th.

Incyte Price Performance

NASDAQ:INCY opened at $74.95 on Friday. The firm’s fifty day moving average is $71.81 and its two-hundred day moving average is $69.04. The firm has a market cap of $14.44 billion, a price-to-earnings ratio of 535.40, a PEG ratio of 0.54 and a beta of 0.70. Incyte has a one year low of $50.35 and a one year 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.

Insider Transactions at Incyte

In other news, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction on Friday, November 29th. The stock was 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 $2,311,000.04. The trade was a 16.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,695 shares of company stock valued at $1,444,356 over the last 90 days. 17.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Incyte

A number of institutional investors have recently bought and sold shares of the company. Orion Portfolio Solutions LLC acquired a new stake in shares of Incyte during the 3rd quarter worth approximately $770,000. CWA Asset Management Group LLC acquired a new stake in Incyte during the fourth quarter worth $1,933,000. Greenwood Capital Associates LLC purchased a new stake in Incyte in the third quarter valued at $433,000. Tri Ri Asset Management Corp acquired a new position in shares of Incyte in the 3rd quarter valued at $3,292,000. Finally, Cypress Capital Group purchased a new position in shares of Incyte during the 3rd quarter worth $971,000. 96.97% of the stock is owned by hedge funds and other 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.