Incyte Co. (NASDAQ:INCY) Given Average Recommendation of “Hold” by Analysts

Incyte Co. (NASDAQ:INCY) has earned an average rating of “Hold” from the twenty analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $76.29.

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Tuesday, November 19th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. Royal Bank of Canada lifted their price target on Incyte from $72.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, November 14th. Truist Financial restated a “hold” rating and issued a $74.00 price objective (down previously from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. Finally, StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th.

Insider Buying and Selling

In related news, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the sale, the insider now owns 23,312 shares of the company’s stock, valued at approximately $1,615,754.72. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,023 shares of company stock valued at $839,711. Company insiders own 17.60% of the company’s stock.

Institutional Trading of Incyte

Several institutional investors and hedge funds have recently made changes to their positions in INCY. Raymond James & Associates raised its position in Incyte by 783.4% during the second quarter. Raymond James & Associates now owns 34,790 shares of the biopharmaceutical company’s stock valued at $2,109,000 after purchasing an additional 30,852 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of Incyte by 4.1% during the 2nd quarter. New York State Teachers Retirement System now owns 211,984 shares of the biopharmaceutical company’s stock valued at $12,850,000 after purchasing an additional 8,335 shares during the last quarter. JB Capital LLC raised its holdings in shares of Incyte by 2.6% during the 2nd quarter. JB Capital LLC now owns 45,478 shares of the biopharmaceutical company’s stock valued at $2,757,000 after buying an additional 1,159 shares in the last quarter. Catalyst Financial Partners LLC bought a new stake in Incyte in the 2nd quarter worth approximately $442,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Incyte by 122.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 892,710 shares of the biopharmaceutical company’s stock worth $54,116,000 after buying an additional 490,680 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Up 0.1 %

INCY stock opened at $69.91 on Thursday. The firm has a market capitalization of $13.47 billion, a PE ratio of 499.39, a P/E/G ratio of 8.36 and a beta of 0.69. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. Incyte has a twelve month low of $50.35 and a twelve month high of $83.95. The stock’s 50 day moving average is $72.65 and its 200-day moving average is $66.85.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Incyte’s revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the business posted $0.91 earnings per share. Sell-side analysts expect that Incyte will post 0.4 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.