Incyte Co. (NASDAQ:INCY) Receives $77.16 Consensus Target Price from Analysts

Shares of Incyte Co. (NASDAQ:INCY) have been given an average recommendation of “Hold” by the twenty-one ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $77.16.

A number of research firms recently commented on INCY. Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and upped their price objective for the company from $68.00 to $90.00 in a research report on Tuesday, October 29th. Truist Financial reiterated a “hold” rating and set a $74.00 price objective (down previously from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft upped their price objective on Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Citigroup boosted their price target on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 30th.

Incyte Stock Up 0.9 %

INCY stock opened at $75.45 on Friday. Incyte has a twelve month low of $50.35 and a twelve month high of $83.95. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The firm has a market cap of $14.54 billion, a PE ratio of 538.93, a price-to-earnings-growth ratio of 8.48 and a beta of 0.71. The business has a 50 day moving average of $70.58 and a 200 day moving average of $64.99.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. On average, research analysts forecast that Incyte will post 0.4 EPS for the current fiscal year.

Insider Transactions at Incyte

In other news, insider Thomas Tray sold 572 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. The trade was a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction that occurred on Thursday, September 12th. The shares were 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 18.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,702 shares of company stock worth $856,166 in the last ninety days. Insiders own 17.60% of the company’s stock.

Institutional Trading of Incyte

Several institutional investors have recently made changes to their positions in INCY. Bessemer Group Inc. raised its position in shares of Incyte by 36.6% during the 1st quarter. Bessemer Group Inc. now owns 1,314 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 352 shares during the period. Advisors Asset Management Inc. raised its position in shares of Incyte by 8.5% during the 1st quarter. Advisors Asset Management Inc. now owns 23,983 shares of the biopharmaceutical company’s stock valued at $1,366,000 after buying an additional 1,869 shares during the period. Toronto Dominion Bank raised its position in shares of Incyte by 1.9% during the 1st quarter. Toronto Dominion Bank now owns 106,898 shares of the biopharmaceutical company’s stock valued at $6,090,000 after buying an additional 2,032 shares during the period. Lazard Asset Management LLC raised its position in shares of Incyte by 15.0% during the 1st quarter. Lazard Asset Management LLC now owns 72,727 shares of the biopharmaceutical company’s stock valued at $4,143,000 after buying an additional 9,477 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in shares of Incyte during the 1st quarter valued at approximately $1,040,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

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.