Incyte Corporation (NASDAQ:INCY) Given Consensus Recommendation of “Hold” by Analysts

Shares of Incyte Corporation (NASDAQ:INCY) have earned an average recommendation of “Hold” from the twenty-two analysts that are currently covering the stock, MarketBeat reports. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $111.10.

Several research analysts have recently issued reports on INCY shares. UBS Group upped their price objective on Incyte from $103.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. HC Wainwright reiterated a “buy” rating and set a $140.00 target price on shares of Incyte in a research report on Tuesday. Sanford C. Bernstein started coverage on shares of Incyte in a report on Thursday, May 21st. They set a “market perform” rating and a $99.00 target price on the stock. Truist Financial upped their price target on shares of Incyte from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Monday, June 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Incyte from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday.

Incyte Stock Up 0.8%

Shares of NASDAQ:INCY opened at $116.69 on Friday. The company has a fifty day moving average of $106.38 and a 200-day moving average of $101.52. The company has a market capitalization of $23.31 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.05 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. Incyte has a 52-week low of $69.69 and a 52-week high of $119.60.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the company earned $1.16 EPS. Incyte’s revenue was up 20.9% compared to the same quarter last year. On average, equities analysts predict that Incyte will post 6.61 EPS for the current fiscal year.

Institutional Trading of Incyte

A number of institutional investors and hedge funds have recently bought and sold shares of INCY. Insight Wealth Strategies LLC bought a new position in Incyte during the 2nd quarter worth $7,076,000. Tema ETFs LLC grew its position in shares of Incyte by 5.7% in the 2nd quarter. Tema ETFs LLC now owns 2,704 shares of the biopharmaceutical company’s stock valued at $307,000 after buying an additional 145 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Incyte by 15.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 56,300 shares of the biopharmaceutical company’s stock valued at $6,382,000 after buying an additional 7,700 shares during the last quarter. Arista Wealth Management LLC increased its stake in shares of Incyte by 17.7% in the second quarter. Arista Wealth Management LLC now owns 17,726 shares of the biopharmaceutical company’s stock valued at $2,009,000 after buying an additional 2,672 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its position in shares of Incyte by 3.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 38,575 shares of the biopharmaceutical company’s stock worth $4,373,000 after acquiring an additional 1,437 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

About Incyte

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.