Brokerages Set Incyte Co. (NASDAQ:INCY) Price Target at $75.71

Shares of Incyte Co. (NASDAQ:INCY) have been assigned a consensus rating of “Hold” from the twenty brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $75.59.

A number of equities analysts recently weighed in on 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. BMO Capital Markets reaffirmed an “underperform” rating and set a $52.00 target price (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. UBS Group started coverage on Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday. Finally, StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Incyte Trading Up 1.4 %

Shares of INCY opened at $70.01 on Friday. The business’s 50-day moving average price is $71.47 and its 200 day moving average price is $69.16. The stock has a market capitalization of $13.49 billion, a P/E ratio of 500.11, a P/E/G ratio of 0.53 and a beta of 0.70. Incyte has a 1-year low of $50.35 and a 1-year high of $83.95. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Analysts expect that Incyte will post 0.35 earnings per share for the current year.

Insider Activity

In other news, insider Thomas Tray sold 650 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $70.64, for a total transaction of $45,916.00. Following the completion of the transaction, the insider now owns 23,962 shares of the company’s stock, valued at approximately $1,692,675.68. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,695 shares of company stock valued at $1,444,356. 17.60% of the stock is owned by company insiders.

Institutional Trading of Incyte

A number of institutional investors and hedge funds have recently modified their holdings of the company. Orion Portfolio Solutions LLC acquired a new stake in Incyte during the third quarter worth $770,000. CWA Asset Management Group LLC acquired a new stake in shares of Incyte during the 4th quarter valued at about $1,933,000. Greenwood Capital Associates LLC bought a new stake in Incyte in the third quarter valued at about $433,000. Tri Ri Asset Management Corp acquired a new position in Incyte in the third quarter worth about $3,292,000. Finally, Cypress Capital Group bought a new position in Incyte during the third quarter worth about $971,000. 96.97% of the stock is currently owned by institutional investors.

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.