Incyte Co. (NASDAQ:INCY) Receives Consensus Rating of “Hold” from Analysts

Shares of Incyte Co. (NASDAQ:INCY) have been assigned a consensus recommendation of “Hold” from the twenty-one research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $74.58.

INCY has been the subject of a number of recent research reports. Truist Financial reissued 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. Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $68.00 to $90.00 in a report on Tuesday. Guggenheim lifted their price target on shares of Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Citigroup lifted their price target on shares of Incyte from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $67.00 price target on shares of Incyte in a report on Tuesday, September 3rd.

Insiders Place Their Bets

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the sale, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Thomas Tray sold 572 shares of the 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the sale, the executive vice president now directly owns 36,390 shares in the company, valued at approximately $2,269,280.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Incyte

Several hedge funds have recently modified their holdings of INCY. Pacer Advisors Inc. boosted its stake 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 worth $163,200,000 after acquiring an additional 2,676,851 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after acquiring an additional 1,101,041 shares in the last quarter. Acadian Asset Management LLC boosted its stake 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 worth $215,833,000 after acquiring an additional 779,243 shares in the last quarter. Swedbank AB purchased a new stake in shares of Incyte during the 1st quarter worth about $37,440,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Incyte by 122.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 892,710 shares of the biopharmaceutical company’s stock worth $54,116,000 after acquiring an additional 490,680 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $73.60 on Wednesday. The company has a market capitalization of $14.18 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 5.31 and a beta of 0.73. Incyte has a 52 week low of $50.27 and a 52 week high of $74.07. 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 firm has a 50 day moving average of $65.39 and a 200 day moving average of $61.51.

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