Incyte Co. (NASDAQ:INCY) Receives $75.25 Consensus Price Target from Brokerages

Shares of Incyte Co. (NASDAQ:INCY) have been given a consensus rating of “Hold” by the nineteen ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $75.25.

INCY has been the subject of a number of recent analyst reports. Royal Bank of Canada reduced their target price on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company lifted their price target on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. UBS Group began coverage on Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. Stifel Nicolaus lifted their price target on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Finally, StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th.

Incyte Price Performance

Incyte stock opened at $70.79 on Tuesday. Incyte has a one year low of $50.35 and a one year high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The business has a fifty day moving average of $71.82 and a two-hundred day moving average of $70.16. The company has a market cap of $13.70 billion, a P/E ratio of 262.19, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last released its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. As a group, analysts predict that Incyte will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 650 shares of Incyte stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the sale, the insider now owns 23,312 shares in the company, valued at $1,615,754.72. The trade was a 2.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,809,101.52. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,320 shares of company stock worth $2,072,849 in the last 90 days. 17.60% of the stock is owned by company insiders.

Institutional Trading of Incyte

Institutional investors have recently modified their holdings of the company. CWA Asset Management Group LLC purchased a new stake in shares of Incyte during the 4th quarter worth about $1,933,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Incyte during the 3rd quarter worth about $770,000. Greenwood Capital Associates LLC purchased a new stake in shares of Incyte during the 3rd quarter worth about $433,000. Tri Ri Asset Management Corp purchased a new stake in shares of Incyte during the 3rd quarter worth about $3,292,000. Finally, Cypress Capital Group purchased a new position in Incyte in the 3rd quarter worth approximately $971,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

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.