Analysts Set Incyte Co. (NASDAQ:INCY) Price Target at $73.29

Shares of Incyte Co. (NASDAQ:INCY) have been assigned a consensus rating of “Hold” from the nineteen brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $73.29.

Several equities analysts recently commented on INCY shares. Royal Bank of Canada increased their target price on shares of Incyte from $66.00 to $67.00 and gave the company a “sector perform” rating in a report on Thursday, August 15th. TD Cowen decreased their price objective on Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Citigroup increased their target price on Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Bank of America increased their price objective on Incyte from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd.

Insider Transactions at Incyte

In related news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the sale, the insider now directly owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Thomas Tray sold 1,093 shares of Incyte stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the transaction, the insider now directly owns 21,634 shares of the company’s stock, valued at approximately $1,274,458.94. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Barry P. Flannelly sold 8,148 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total transaction of $488,880.00. Following the completion of the sale, the executive vice president now owns 50,534 shares in the company, valued at approximately $3,032,040. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,282 shares of company stock valued at $2,876,911. Corporate insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Cape Investment Advisory Inc. purchased a new position in shares of Incyte in the 4th quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new position in Incyte in the second quarter worth about $26,000. Larson Financial Group LLC lifted its stake in shares of Incyte by 4,220.0% in the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 422 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Incyte during the first quarter valued at approximately $28,000. Finally, Riverview Trust Co bought a new stake in shares of Incyte during the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Trading Up 1.8 %

NASDAQ INCY opened at $64.38 on Friday. The stock’s 50-day simple moving average is $62.74 and its two-hundred day simple moving average is $58.90. Incyte has a twelve month low of $50.27 and a twelve month high of $70.36. The company has a quick ratio of 3.43, a current ratio of 1.92 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $14.46 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.14 and a beta of 0.73.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Research analysts forecast that Incyte will post 3.35 EPS for the current fiscal 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.