Analysts Set Incyte Co. (NASDAQ:INCY) Price Target at $73.69

Incyte Co. (NASDAQ:INCY) has been given an average recommendation of “Hold” by the eighteen brokerages that are covering the company, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $73.69.

A number of research analysts have recently commented on INCY shares. BMO Capital Markets decreased their price objective on shares of Incyte from $56.00 to $52.00 and set a “market perform” rating for the company in a research report on Wednesday, May 1st. Oppenheimer cut their price objective on Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Bank of America decreased their target price on Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Incyte in a report on Thursday, May 23rd. They set a “hold” rating and a $55.00 price target for the company. Finally, StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd.

Incyte Stock Performance

INCY opened at $60.62 on Thursday. The business’s 50-day simple moving average is $57.40 and its 200 day simple moving average is $58.75. Incyte has a 52-week low of $50.27 and a 52-week high of $67.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. The firm has a market capitalization of $13.61 billion, a PE ratio of 18.37, a PEG ratio of 1.32 and a beta of 0.74.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The company had revenue of $880.89 million for the quarter, compared to the consensus estimate of $935.85 million. As a group, sell-side analysts expect that Incyte will post 3.57 earnings per share for the current fiscal year.

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,164 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the transaction, the executive vice president now directly owns 66,377 shares in the company, valued at $3,982,620. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Incyte news, EVP Barry P. Flannelly sold 19,164 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the transaction, the executive vice president now owns 66,377 shares of the company’s stock, valued at $3,982,620. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Tray sold 1,093 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the sale, the insider now owns 21,634 shares in the company, valued at $1,274,458.94. The disclosure for this sale can be found here. 17.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Incyte

A number of hedge funds and other institutional investors have recently bought and sold shares of INCY. Cape Investment Advisory Inc. acquired a new stake in shares of Incyte during the fourth quarter valued at about $25,000. Larson Financial Group LLC boosted its position in Incyte by 4,220.0% during the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 422 shares during the period. Redmont Wealth Advisors LLC bought a new stake in Incyte during the 1st quarter worth approximately $28,000. Riverview Trust Co acquired a new position in Incyte in the 1st quarter valued at approximately $29,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Incyte in the 4th quarter valued at approximately $31,000. Institutional investors own 96.97% of the company’s stock.

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.