Incyte Co. (NASDAQ:INCY) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Incyte Co. (NASDAQ:INCY) have been assigned a consensus rating of “Hold” from the seventeen research firms that are currently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with 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 $74.93.

A number of equities analysts have recently issued reports on INCY shares. TD Cowen cut their price objective on Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. JMP Securities cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. Cantor Fitzgerald initiated coverage on shares of Incyte in a research note on Tuesday, April 23rd. They set a “neutral” rating on the stock. BMO Capital Markets cut their price objective on shares of Incyte from $56.00 to $52.00 and set a “market perform” rating for the company in a research note on Wednesday, May 1st. Finally, Jefferies Financial Group assumed coverage on shares of Incyte in a research report on Friday, February 23rd. They issued a “buy” rating and a $81.00 target price on the stock.

Institutional Investors Weigh In On Incyte

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Incyte in the fourth quarter worth $123,253,000. LSV Asset Management grew its stake in shares of Incyte by 119.6% in the fourth quarter. LSV Asset Management now owns 2,691,827 shares of the biopharmaceutical company’s stock worth $169,020,000 after acquiring an additional 1,465,792 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Incyte by 2,858.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,025,784 shares of the biopharmaceutical company’s stock valued at $64,409,000 after purchasing an additional 991,110 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Incyte by 585.8% during the third quarter. Los Angeles Capital Management LLC now owns 1,145,362 shares of the biopharmaceutical company’s stock valued at $66,168,000 after purchasing an additional 978,342 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Incyte by 56.6% in the third quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock worth $155,053,000 after purchasing an additional 970,668 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Price Performance

INCY stock opened at $54.37 on Wednesday. The firm has a 50 day simple moving average of $55.83 and a two-hundred day simple moving average of $57.54. The stock has a market cap of $12.21 billion, a PE ratio of 16.48, a P/E/G ratio of 1.35 and a beta of 0.69. Incyte has a one year low of $50.27 and a one year high of $67.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Incyte had a return on equity of 12.83% and a net margin of 19.78%. The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. On average, analysts predict that Incyte will post 3.54 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.