Incyte Co. (NASDAQ:INCY) Receives Average Recommendation of “Hold” from Brokerages

Incyte Co. (NASDAQ:INCY) has been given a consensus recommendation of “Hold” by the seventeen analysts that are covering the stock, Marketbeat reports. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $74.93.

Several equities research analysts have commented on INCY shares. Bank of America cut their price target on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Stifel Nicolaus increased their price target on Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $65.00 price target on shares of Incyte in a research report on Monday, March 25th. William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Finally, Truist Financial reissued a “buy” rating and issued a $83.00 target price (down from $84.00) on shares of Incyte in a research note on Wednesday, May 1st.

Institutional Investors Weigh In On Incyte

A number of large investors have recently modified their holdings of INCY. ARK Investment Management LLC increased its position in Incyte by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 531,625 shares of the biopharmaceutical company’s stock worth $33,381,000 after purchasing an additional 37,932 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Incyte by 29.3% in the 4th quarter. Russell Investments Group Ltd. now owns 963,090 shares of the biopharmaceutical company’s stock valued at $60,465,000 after acquiring an additional 217,979 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Incyte by 85.3% during the 3rd quarter. Royal Bank of Canada now owns 987,052 shares of the biopharmaceutical company’s stock valued at $57,021,000 after acquiring an additional 454,416 shares in the last quarter. RFG Advisory LLC bought a new stake in Incyte during the 4th quarter worth $206,000. Finally, Raymond James & Associates bought a new stake in Incyte during the 4th quarter worth $2,291,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Trading Up 0.5 %

NASDAQ:INCY opened at $54.37 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43. The business’s 50-day simple moving average is $55.83 and its 200-day simple moving average is $57.54. Incyte has a fifty-two week low of $50.27 and a fifty-two week high of $67.36. The stock has a market capitalization of $12.21 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.35 and a beta of 0.69.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Incyte had a return on equity of 12.83% and a net margin of 19.78%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 earnings per share. Sell-side analysts expect that Incyte will post 3.54 earnings per share for the current fiscal year.

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.