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

Shares of Incyte Co. (NASDAQ:INCY) have earned an average rating of “Hold” from the nineteen research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $74.88.

A number of research analysts recently weighed in on the stock. Citigroup dropped their price target on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. William Blair downgraded Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 18th. Morgan Stanley reduced their target price on Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, March 24th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Finally, StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th.

Incyte Stock Performance

Shares of INCY opened at $60.58 on Friday. The firm has a market capitalization of $11.72 billion, a P/E ratio of 224.38, a P/E/G ratio of 0.41 and a beta of 0.89. Incyte has a 52 week low of $50.35 and a 52 week high of $83.95. The stock has a 50 day moving average price of $68.41 and a two-hundred day moving average price of $69.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97.

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

Insiders Place Their Bets

In other Incyte news, EVP Sheila A. Denton sold 599 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the sale, the executive vice president now directly owns 25,848 shares in the company, valued at $1,809,101.52. This represents a 2.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,827 shares of company stock worth $3,322,618 in the last quarter. 17.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Incyte

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWA Asset Management Group LLC purchased a new position in shares of Incyte during the fourth quarter worth about $1,933,000. Orion Portfolio Solutions LLC purchased a new position in Incyte in the 3rd quarter worth approximately $770,000. Tri Ri Asset Management Corp purchased a new stake in shares of Incyte during the 3rd quarter valued at $3,292,000. Pallas Capital Advisors LLC bought a new stake in shares of Incyte during the 4th quarter worth $1,006,000. Finally, SG Americas Securities LLC grew its position in Incyte by 262.2% in the fourth quarter. SG Americas Securities LLC now owns 99,407 shares of the biopharmaceutical company’s stock worth $6,866,000 after acquiring an additional 71,963 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other 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.