Incyte Co. (NASDAQ:INCY) Receives Consensus Rating of “Hold” from Analysts

Shares of Incyte Co. (NASDAQ:INCY) have been given a consensus recommendation of “Hold” by the eighteen research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $73.25.

Several research firms have commented on INCY. Deutsche Bank Aktiengesellschaft began coverage on shares of Incyte in a research note on Thursday, May 23rd. They set a “hold” rating and a $55.00 target price on the stock. Oppenheimer reduced their price objective on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a research report on Friday. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Tuesday, June 18th. TD Cowen reduced their price objective on shares of Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Truist Financial restated a “buy” rating and set a $83.00 price objective (down previously from $84.00) on shares of Incyte in a research report on Wednesday, May 1st.

Insider Buying and Selling

In related news, insider Thomas Tray sold 1,093 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the sale, the insider now directly owns 21,634 shares in the company, valued at $1,274,458.94. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Barry P. Flannelly sold 8,148 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total value of $488,880.00. Following the sale, the executive vice president now directly owns 50,534 shares of the company’s stock, valued at $3,032,040. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas Tray sold 1,093 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of the sale, the insider now directly owns 21,634 shares in the company, valued at $1,274,458.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,711 shares of company stock worth $1,786,941. Corporate insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Incyte

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Moody National Bank Trust Division grew its position in shares of Incyte by 1.3% in the second quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock valued at $861,000 after purchasing an additional 179 shares during the last quarter. Fisher Asset Management LLC grew 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 worth $2,773,000 after buying an additional 187 shares in the last quarter. 180 Wealth Advisors LLC grew its position in Incyte by 4.5% during the first quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock worth $271,000 after buying an additional 204 shares in the last quarter. Berger Financial Group Inc grew its position in Incyte by 0.4% during the fourth quarter. Berger Financial Group Inc now owns 60,468 shares of the biopharmaceutical company’s stock worth $3,797,000 after buying an additional 212 shares in the last quarter. Finally, Allworth Financial LP grew its position in Incyte by 40.0% during the fourth quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 229 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Stock Up 0.1 %

INCY stock opened at $68.61 on Monday. The company has a quick ratio of 3.43, a current ratio of 3.47 and a debt-to-equity ratio of 0.01. Incyte has a fifty-two week low of $50.27 and a fifty-two week high of $70.36. The firm’s 50-day simple moving average is $61.03 and its 200 day simple moving average is $58.64. The stock has a market cap of $15.41 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 1.44 and a beta of 0.73.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The firm had revenue of $880.89 million during the quarter, compared to analyst estimates of $935.85 million. As a group, sell-side analysts predict that Incyte will post 3.66 EPS for the current 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.