Incyte Co. (NASDAQ:INCY) Receives $73.83 Average PT from Analysts

Incyte Co. (NASDAQ:INCY) has been given a consensus rating of “Hold” by the twenty-one ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $73.21.

INCY has been the topic of a number of recent analyst reports. JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Guggenheim lifted their target price on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Monday, September 16th. Citigroup lifted their price objective on Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Oppenheimer dropped their target price on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, July 26th.

Insider Transactions at Incyte

In related news, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the sale, the insider now directly owns 24,825 shares in the company, valued at approximately $1,562,485.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Vijay K. Iyengar sold 15,571 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the transaction, the executive vice president now directly owns 36,701 shares in the company, valued at approximately $2,569,070. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,899 shares of company stock worth $1,736,746 in the last 90 days. Corporate insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Incyte

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators boosted its holdings in shares of Incyte by 37.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 164 shares during the period. 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. Ballentine Partners LLC increased its stake in shares of Incyte by 4.0% during the second quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock worth $287,000 after purchasing an additional 182 shares during the period. 180 Wealth Advisors LLC increased its stake in shares of 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 purchasing an additional 204 shares during the period. Finally, Empirical Finance LLC boosted its stake in Incyte by 3.7% in the 1st quarter. Empirical Finance LLC now owns 6,395 shares of the biopharmaceutical company’s stock valued at $364,000 after purchasing an additional 230 shares during the period. 96.97% of the stock is owned by institutional investors.

Incyte Stock Up 1.1 %

Shares of NASDAQ:INCY opened at $66.12 on Friday. The company has a 50 day moving average of $64.27 and a 200-day moving average of $60.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84. The stock has a market cap of $12.73 billion, a price-to-earnings ratio of 183.67, a P/E/G ratio of 5.30 and a beta of 0.73. Incyte has a one year low of $50.27 and a one year high of $70.36.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $0.77 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts forecast that Incyte will post 0.66 earnings per share for the current 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.