Incyte Co. (NASDAQ:INCY) Receives $74.88 Consensus PT from Brokerages

Shares of Incyte Co. (NASDAQ:INCY) have been given a consensus recommendation of “Hold” by the nineteen brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $74.88.

Several brokerages recently weighed in on INCY. Morgan Stanley dropped their target price on Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, March 24th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Citigroup decreased their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Finally, Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research note on Tuesday, March 18th.

Insider Activity

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the transaction, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at $2,272,150.23. This represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,827 shares of company stock worth $3,322,618. Corporate insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Incyte

A number of institutional investors have recently modified their holdings of INCY. Retirement Systems of Alabama grew its position in Incyte by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock valued at $2,391,000 after purchasing an additional 139 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Incyte by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 20,371 shares of the biopharmaceutical company’s stock valued at $1,410,000 after buying an additional 150 shares during the last quarter. Trust Point Inc. increased its position in shares of Incyte by 5.0% during the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock valued at $227,000 after acquiring an additional 156 shares in the last quarter. Bank of Nova Scotia raised its holdings in Incyte by 0.8% in the 4th quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company’s stock worth $1,498,000 after acquiring an additional 171 shares during the last quarter. Finally, Mather Group LLC. lifted its position in Incyte by 26.4% in the 4th quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 173 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Trading Down 3.0 %

INCY stock opened at $60.58 on Friday. The company has a market capitalization of $11.72 billion, a PE ratio of 224.38, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. Incyte has a one year low of $50.35 and a one year high of $83.95. The company’s 50 day moving average price is $68.41 and its two-hundred day moving average price is $69.95.

Incyte (NASDAQ:INCY) last issued its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, analysts predict that Incyte will post 4.86 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.