Incyte Co. (NASDAQ:INCY) Receives Consensus Rating of “Hold” from Analysts

Incyte Co. (NASDAQ:INCY) has received an average recommendation of “Hold” from the eighteen analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $73.53.

Several research analysts have issued reports on the company. Morgan Stanley dropped their price objective on Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, March 24th. Guggenheim cut Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price on the stock. in a report on Tuesday, March 18th. Royal Bank of Canada increased their target price on Incyte from $64.00 to $67.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 30th. StockNews.com upgraded Incyte from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 30th. Finally, JMP Securities restated a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th.

Insiders Place Their Bets

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This trade represents a 37.11% 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 Sheila A. Denton sold 599 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the transaction, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,809,101.52. This trade represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,475 shares of company stock worth $2,424,751. Insiders own 17.80% of the company’s stock.

Hedge Funds Weigh In On Incyte

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Incyte by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 19,997,823 shares of the biopharmaceutical company’s stock valued at $1,210,868,000 after purchasing an additional 417,346 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Incyte by 92.3% during the 1st quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock valued at $405,787,000 after purchasing an additional 3,233,356 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Incyte by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company’s stock valued at $278,346,000 after purchasing an additional 103,910 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Incyte by 4.9% during the 1st quarter. LSV Asset Management now owns 3,637,974 shares of the biopharmaceutical company’s stock valued at $220,279,000 after purchasing an additional 170,484 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Incyte by 4.0% during the 1st quarter. Invesco Ltd. now owns 3,168,750 shares of the biopharmaceutical company’s stock valued at $191,868,000 after purchasing an additional 120,543 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

Incyte stock opened at $63.31 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The stock has a fifty day moving average price of $60.49 and a two-hundred day moving average price of $68.43. Incyte has a 52-week low of $53.56 and a 52-week high of $83.95. The firm has a market capitalization of $12.25 billion, a P/E ratio of 234.49, a P/E/G ratio of 0.41 and a beta of 0.68.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.15. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $996.17 million. During the same period in the prior year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, analysts anticipate that Incyte will post 4.86 EPS for the current fiscal year.

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.