Incyte Co. (NASDAQ:INCY) Receives $76.07 Consensus Target Price from Brokerages

Incyte Co. (NASDAQ:INCY) has received a consensus recommendation of “Hold” from the fifteen research firms that are covering the company, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $76.07.

Several research analysts have recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $65.00 price objective on shares of Incyte in a research note on Monday, March 25th. Bank of America lowered their price target on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Stifel Nicolaus increased their price objective on shares of Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. William Blair restated an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Finally, Jefferies Financial Group initiated coverage on Incyte in a research note on Friday, February 23rd. They issued a “buy” rating and a $81.00 price target for the company.

Incyte Stock Down 0.8 %

Incyte stock opened at $53.43 on Friday. The stock has a fifty day simple moving average of $57.87 and a two-hundred day simple moving average of $58.06. The company has a current ratio of 3.55, a quick ratio of 3.36 and a debt-to-equity ratio of 0.01. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.16 and a beta of 0.65. Incyte has a 12 month low of $50.27 and a 12 month high of $75.74.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). Incyte had a net margin of 16.17% and a return on equity of 12.56%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the company posted $0.44 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. Equities analysts predict that Incyte will post 3.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. grew its stake in shares of Incyte by 4.8% in the 1st quarter. D.A. Davidson & CO. now owns 3,300 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 150 shares in the last quarter. Clear Street Markets LLC grew its position in Incyte by 93.6% in the first quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 175 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its stake in Incyte by 2.8% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,616 shares of the biopharmaceutical company’s stock worth $441,000 after acquiring an additional 183 shares during the last quarter. Fisher Asset Management LLC raised its position in Incyte by 0.4% during the fourth quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company’s stock valued at $2,773,000 after purchasing an additional 187 shares during the period. Finally, Vontobel Holding Ltd. lifted its stake in shares of Incyte by 1.2% in the 3rd quarter. Vontobel Holding Ltd. now owns 16,684 shares of the biopharmaceutical company’s stock valued at $964,000 after purchasing an additional 195 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

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.